When it comes to the business side of trucking, especially for small trucking companies and owner-operators, things can get messy. Even with all of the mobile and cloud solutions, the trucking industry still runs on paper.
However, with today’s technology, there are more resources aimed at helping small operations and owner-operators keep their finances and accounting in order.
REMEMBER: The tips below are suggestions. Always consult a financial and tax professional.
Are you running your own small trucking business or interested in starting one? Here are the a sample of accounting tools that can help your trucking business.
- Truckn Pro: This software offers three editions, with the lowest package starting at $79. You can manage payroll, vehicle maintenance logs, trip planners and many other exclusive features. All of this is purchased under a one-time fee! Many other programs have monthly or quarterly payments.
- QuickBooks: This well-known software is the leader in the U.S. market for accounting software. A new update has made it easier to use on a smartphone or tablet, making it very convenient for those on the road. You can also sync all of your finances and account info across devices like real-time payables, your receivables and monitor your cash flow. Bonus: QuickBooks will prepare your data for tax time. There is a free, month-long trial. Subscriptions start at $10 a month for small businesses and $5 a month for individual contractors.
- RigBooks: A great option for companies operating between one and five trucks. RigBooks has four different packages, which include tools for invoicing, tracking loads and preparing taxes.
- Truck Bytes: Many truckers find this program to be ideal for newcomers to the industry or long-time trucking vets who don’t have employees. Truck Bytes is a free accounting software with the ability to manage truckloads, customers, verify payments, run expense reports and more. They also have a paid plan, but you can still get started with the free version to test drive.
- ProTransport: An excellent option if you own and operate a fleet of five or more trucks. This software allows you to manage multiple drivers and trucks easily and features an extensive catalog of financial and productivity reports. This tool can also integrate with QuickBooks.
As you begin to get your bookkeeping in order, we hope one or more of the tools above can help out. If you’re overwhelmed with all of the options, here are a few good places to start. If you want to get your accounting in line, try implementing these methods into your business:
- Open a separate checking account for your business.
- Save every receipt.
- Save all of your logbooks.
- Use a different credit card for business expenses.
- Save (and organize) all of your records.
We hope you’ll keep these tips in mind moving forward so that you can take care of your finances and keep your focus on the road. Be sure to take a look at our blog for other helpful posts. You can sign up for the world’s largest FREE load board here and start enjoying the benefits immediately.