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Ensure Proper Documentation & Business Analysis of Your Trucking Business Using Owner Operator Bookkeeping Software

For every trucking business owner, the bookkeeping part is undoubtedly a heavy burden. But it is important that he establishes an efficient bookkeeping system from the start itself conducting business. Managing a business which complies with the laws and business requirements warrants the setup and maintenance of some organized system of accounting. For an accounting procedure to succeed, it is fundamental that some mode of financial accounting like the receivables and going to be established, and that all these records present a true bookkeeping picture for analysis as well as for tax purposes. So its extreme important to use owner operator bookkeeping software for an effective and useful bookkeeping and accounting purpose.

How to create an effective bookkeeping system?

Bookkeeping is an indispensable part of a business; one can state a number of reasons like: audit purpose, preparation of bookkeeping documents, as a basis for strategic decision making purposes and preparation of investor prospectus and other documents. All said and done, there are still a lot of business owners that do not keep appropriate tabs on their business financial part. This can lead to larger headaches when the tax personnel comes knocking, eventually. In order to maintain sufficient bookkeeping records, one should adopt owner operator bookkeeping software for proper analysis and documentation. It helps to understand various aspects of business within few hours and to take decisions based on the analysis.

One should also embark on preparing the balance sheet as part of the accounting system. This system will keep an eye on all of the assets and liabilities of one’s business process. In other words, only short term liabilities are taken into account in the deduction from total assets. The long term liabilities are put in as if they were regarded as assets. Keeping accurate bookkeeping records while conducting business is very vital for marketing and operation purposes, principally when one needs to submit statutory accounts and tax related documents. Using smart and advanced owner operator bookkeeping software is good for the business. It is good for the business and one ought to make sure that one is up to date with the record keeping part and accounting documentation aspects so as to prevent further problems related to business.

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Manage Your Trucking Business Effectively Using Advanced Trucking Business Software

Computers and internet have become a reason of transformation of several businesses. Transportation and logistics industry is among one of them who have got benefited in the most effective manner. Innovative trucking business software has changed the whole scenario of managing loads and trucks.  Trucking business software is being developed in strict co-ordination with the trucking companies, various eminent carriers, freight brokerage companies, and customers. This is very important in order to make this software really useful and applicable in all aspects of trucking and transportation of cargo.

Initially the trucking business software was introduced to serve the needs of specific companies. Later, with increase popularity and convenience of management of trucking needs several companies have started using them, resulting great market potential for companies engaged in development of trucking software.

How trucking software helps to manage a hazel-free trucking business?

With functionalities of managing all trucking business transactions more effectively, and providing ideal interface and mechanism of organizing every data related to transportation industry. Trucking business software soon proved their significance for overall transportation industry and their effectiveness in supply chain execution.

Trucking business software provides an overall solution for the transportation industry and makes the execution of the supply chain much more efficient than before. These software not only manages the trucking and the freight delivery needs but also give features which are co-related to the operations, invoice, billing and other transaction that take place between the customers, carriers and the freight brokers. The internet has made the management of these transactions and other requirements more efficient.

If you are really keen to access all the information related to your company dealing in trucking, brokerage and freight services then trucking business software will be the best suitable option for you. The easy interface and effective user handling provides unique approach of convenient handling. Anyone can manage all the work with the help of this trucking business software that are made after long research and analysis of trucking industry. All you need to know is operating a computer and software.

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The Truckers Helper LLC is committed to providing high-quality dispatching and load management tools at wholesale price so that you receive the best help for managing your business superbly. Let us help you manage a trucking business that doesn’t give you headache or nightmare. Call us now to know more about our dispatching and load management tools.

https://www.truckershelper.com

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Streamline Your Payroll Processing using a Trucking Payroll Software – Check How Here

One of the most common questions often asked in a trucking business is how to streamline the payroll processing for running a faster and smarter trucking business. Here’s the guide to get started with smarter trucking payroll software that claims to take your worries to the minimal level.

Any trucking business that is using trucking payroll software effectively to meet the needs has to serve two key purposes. The first one is to provide you with the information and reports you need to run your business. Second is to ensure that, in the event of an audit, by any government entity (IFTA, Safety Compliance or IRS) that you have the records and information to survive that audit with a minimum of work or effort on your part.

The Truckers Helper – innovative trucking payroll software – is designed to fit both of these needs. So, while some data may seem like it’s more than you really care to track, in the event of an audit, this information is going to be required by the auditor and its presence in your data will impress the auditor and establish the clear audit trail he is looking for.

How Trucking Payroll Software Works for a Trucking Business?

In today’s complex accounting systems, being sure that you are paying the correct amount can be as simple as using a trucking payroll software that will manage the payroll or the driver settlements. Gone were the days when we had to have a bookkeeper tracking miles and writing checks by hand. Trucking payroll software takes the data of the dispatch and creates the invoice, but it can also handle the driver payments.

Trucking payroll software simplifies the process of calculating compensation for your drivers. It makes every aspect of the job simpler, including tasks like these:

Calculating Driver’s Pay: The system will do the math for you, or if you prefer, you can enter the information manually. It will even handle the task of figuring separate pay rates for members of driving teams.

Calculating Payment the Old-School Way: Calculating payment the old-school way can become a nightmare when you try deducting advances for fuel or other purposes. This is yet another task trucking payroll software can handle for you with to-the-penny accuracy.

Invoicing Your Clients Accurately: Invoicing your clients accurately and promptly is just as important as calculating pay rates. Trucking payroll software makes this easy with features that let you link invoices to specific dispatches, including special charges for stop off, lumpers, or accessories. It also makes it super easy to track unpaid invoices and identify dispatches that have not yet been invoiced.

These are just a few of the exciting capabilities trucking payroll software provides.

Here are some of the other advantages of using Trucking Payroll Software:

Executive-Level Protection: Use of trucking payroll software gives executive level of protection to your business information. It safeguards your irreplaceable data with the same world-class features used by MNCs like Walmart, Google, and Amazon.

Ensure Easy Access to the System: Trucking payroll software enables you to access your system easily from anywhere with an internet connection. All you need is a web-capable device and you can take care of business from wherever you are.

On-Demand Tech Support: Trucking payroll software offers on-demand tech support from the staffs and trained professionals. You’re just a call or email away from receiving satisfactory support on how to use trucking payroll software.

As you can see, the trucking payroll software can make every aspect of running your trucking business simpler. Find out for yourself how good the trucking payroll software is by taking a free trial starting today. Get in touch with Trucker’s Helper to obtain error-free trucking payroll software to eliminate nightmares out of your trucking business.

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Having fully functional trucking programs ensure a competitive and advance business solution without any error. Thus, we at The Truckers Helper LLC have designed the trucking programs specifically for the trucking and transportation industry to help truckers and fleet owners just like you. Get in touch with our customer representative on 800-875-7435 to collect more information.

https://www.truckershelper.com/

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Acclaimed Trucking Software for Small Fleets – Giving Increased Small Fleet Business Guarantee

Choosing trucking software for small fleets business can seem overwhelming because there are so many different providers. If your business has a fleet to manage, you still might be hesitant about investing in trucking software for small fleets or devoting multiple hours to researching the available options.

If you are running a small trucking fleet business, you may already know about the challenges of moving freight. But there are a few other duties you have to take care of too. Building up your client base, maintaining your home base, developing good leadership and management skills and making sure you are up to date with the latest technology and legal requirements are all part of your job.

How Trucking Software for Small Fleets Guarantee Profitable Business?

If you Google for best trucking software for small fleets, you will see dozens of options. Most of them are designed that tracks hundreds of vehicles. If you are expanding from being an owner-operator to starting your own fleet, those trucking software for small fleets can be intimidating with features and a long learning curve. It’s a lot better to use something more on your scale – small – but can grow with you.

A Fleet Manager can use Trucking Software for Small Fleets for Several Usages:

Trucking software for small fleets can greatly improve the dispatching process for your fleet. You can easily setup the pick-up and drop-off details as well as the shipment information. Besides, trucking software for small fleets allow:

·         Manage dispatches easily

·         Multi-user login access

·         Schedule maintenance

·         Generate and send invoices

·         Manage accounts

·         Unlimited customer, carrier, broker, driver and vendor entry

·         Profit & loss report

·         Provide driver login access

·         LTL – less than truckload

·         IFTA reporting

Small fleet managers have the same tasks as large fleet managers but they operate on a smaller scale. For example, a larger carrier may have many different fleet managers to manage its drivers but a small trucking company could just have one person for the entire fleet.

How Can Fleet Managers use Trucking Software for Small Fleets?

As a small fleet manager, trucking software for small fleets can greatly improve the dispatching process for your fleet. You can easily setup a maintenance schedule, pick-up and drop-off details as well as the shipment information for each load.

Reasons to Choose Trucking Software for Small Fleets by the Fleet Managers

·         Create and monitor load

·         Create and assign dispatch details

·         Analyze historical records for Finances & Equipment

·         Track fuel consumption, economy & costs

·         Contact drivers on the go using the application

Here at Trucker’s Helper, we’re always glad to help both new and established independent truckers succeed. Trucking software for small fleets by Trucker’s Helper is making running every aspect of your fleet business company easier and more profitable. Our trucking software gives you access to cutting-edge technology that is as simple to use as it is powerful. Plus, our handy trucking software safeguards your records with the same security tools used by giant corporations. You can enjoy these advantages with a free trial to give you plenty of time to decide if the trucking software for small fleets by Trucker’s Helper is right for you. Take our trucking software for small fleets for a free trail test drive starting today!

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How can a trucking Payroll & Management Software help Your Business?

A Transportation Management System, or TMS, is an answer that deals with the dispatching of trucks or bearers, and additionally armada support, charging, driver pay, driver records, IFTA reports and DOT consistence. Moreover, a Transportation Management System streamlines activities by enhancing bearer courses, and detailing key examination while enhancing client benefit crosswise over business territories.

Advantages of Trucking Management Software

he scratch advantages of a TMS are the disposal of excess information section, better truck usage, enhanced perceivability and correspondence among dispatchers and drivers, upgraded client benefit, the capacity to oversee more troublesome, yet higher-paying, cargo, streamlined bookkeeping and combination with QuickBooks, rearranged driver administration, DOT administrative consistence, improved IFTA fuel charge revealing, and solid business knowledge with hearty KPIs

How Can It Work?

TMS Software guarantees that basic data streams progressively, all through all aspects of the business. From dispatching to bookkeeping, from upkeep to consistence, from charging to driver pay, and everything in the middle of; a TMS gives a solitary incorporated arrangement, where all basic data identified with drivers, clients, gear, income, rates and charges is put away and oversaw.

Advantages of Trucking Payroll Software

·                     Calculate your conclusions, benefits, gatherings, additional time, move differentials, garnishments, &expense repayments with each compensation run.

·                     Calculate your duty liabilities, present your assessment stores, and record your profits.

·                     handle your Direct Deposits by means of secure exchanges. Run paperless with 100% Direct Deposit or Paycard Enrollment, and wipe out transportation charges.

·                     Handle your Workers Comp. with every finance run. This will dispose of your Down Payment and keep away from year-end review modifications. Kills bother, and enhances income.

·                     HR Payroll programming empowers your workers to View their Check Stubs, W-2's, and Employee Benefits Online.

·                     Create an Employee Handbook and transfer all your Employee Benefits and Policies for your workers to see on the web.

·                     Set you up with an entire Time and Attendance System that will bolster specifically into trucking payroll software.

At Truckers Helper, we offer the most developed and simple to utilize trucking payroll software and management software to customers. Check our site of connect with our help official to get the element rundown and know a greater amount of our administrations.

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The Truckers Helper LLC is a renowned distributor of trucking payroll software for free which help truckers and fleet owners to create error-free paychecks in minutes. Long gone were the days when owners use pen and paper to create paychecks. https://www.truckershelper.com

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Get everything you need to manage your fleets easily from The Truckers Helper LLC. Our trucking software for small fleets allow every fleet owner to easily track down their needs to solve competitive business tactics without going through the hassles of paperwork. https://www.truckershelper.com/best-trucking-software-about-us

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Operate Your Trucking Business using Smart & Advanced Trucking Software for Small Fleets

Software technology has completely changed the functioning of the trucking business; as it has brought an element of efficiency in the whole system. Capitalizing on this new technology, the trucking industry is looking forward to adopting new innovations. Trucking software for small fleets has enabled the trucking business owners, to bury conventional methods and get adapted to the modern way of functioning. As a result the whole trucking industry has become competent with respect to various other contemporary industries.

Modern trucking software for small fleets provides a classified version of all the features required to manage trucking business. Owners of trucking business can now attain a broader view of their entire business. Moreover, they can keep a track on the activities of their business by utilizing the classified information stored in this software. Some of the arranged features of modern trucking software for small fleets are as follows-

·         Ship date and delivery date

·         Place of origin and destination of the journey

·         Load identification number and name of the carrier/driver

·         Status of the load such as whether load is open, pending or on route

·         Feature to edit any information of the load

Trucking Software: An Overview

All these features enable the user to identify the status or position of the trade at a particular point of time, and also help him to extract the desired information. One of the special features in the software, known as Pay report, supports the trucking business owners to know the complete payment description to a driver, for a particular load or carrier; and also the amount of payment and other related information.

Trucking software for small fleets has simplified the process of accounting and bookkeeping. Now, no more manual accounting is needed, as the features in the software like Account Manager can be utilized all the requisite accounts. Invoice can also be prepared through this software, and latter on a print of the invoice can be taken out. All the important records of the trucking business can be maintained through this software. Prints of various records, including accounts and invoices can be taken out, to substantiate the information filed for tax and audit purpose.

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Manage Your Trucking Business Smoothly Using the Best Trucking ERP Solution

Transport companies ought to keep a track of all their assets mainly vehicles at all times. A part from tracking, they need to schedule vehicles for maintenance, manage future bookings and resources. Often, these data is maintained manually in files, which creates problems when it comes to auditing and rectifications. Best trucking ERP solution helps to perform all the afore-mentioned tasks and more importantly, all from a centralized platform. Enterprise resource planning software is a business tool that integrates with all the third party solutions thus giving 360 degree view of all your key business processes.

Today Trucking ERP solution offer several new functionalities like vendor portals, product-wise view and single view of complete supply chain and a lot more. Further, there are functions to create sales order entry to raise the order, shipment of order and invoice of that shipment, purchase order entries to purchase goods and much more.

Here is how best trucking ERP Solution helps to manage Logistics

·         Vendor portal

·         Scheduling maintenance

·         Real time tracking

·         Optimize inventory control

·         Improves distribution

·         Staff management

Update Your Business with Smart and Advance ERP Solution

Logistics is a highly competitive industry where changing market conditions and requirements of customers press as never before. Logistics businesses can thrive only on real-time streamlined information and processes. With the best trucking ERP solution, you’ll feel a difference. Once ERP is implemented, you get optimized delivery and supply processes, efficiency use your business resources, avoid problems with unavailability for infrastructure.

The best trucking ERP solution represents an advanced way of organizing, shipping and transportation operations with ease and convenience. Basically, these systematically developed solutions are applicable for wholesale and retail stores, import and export sectors, service and distribution businesses and transport and shipping industries. Complex cargo processes also get planned with use of trucking ERP solution. This is simple to use solution takes minimal time for integration and increases the overall productivity significantly.

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Get Trucking Business Software to Double Your Profit

At Truckers Helper LLC, you get the most efficiently working trucking business software which you may not find elsewhere. Get the trucking business software from us and be free from managing paperwork manually. The software also provides beyond compare services which will double your business’ profit margin unconditionally. Order it today!https://www.truckershelper.com/product-category/trucking-software

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Is Your Trucking Accounting Software Everything You Need It to Be?

Trucking accounting software is a necessity for today’s transportation professionals. Whether you own one truck or thousands, keeping it up-to-date is the business demand. And this let us ask you “Is your trucking accounting software ready to serve you the best way?” No! Get the accounting software for trucking business from The Truckers Helper & stay worry-free. We want out product to provide true one-stop capabilities for our valued customers. So, get it today! https://truckershelper.com/best-trucking-software-about-us

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Trucking Bookkeeping for Drivers: Smart Tips for the One-the-Go Trucker

As a professional truck driver, you know that there’s a lot more to the industry than sitting behind the wheel of a big rig. Piloting an 18-wheel vehicle is no easy task on its own, but there’s a host of other things to be mindful of besides getting to and from your destination safely. Compliance is perhaps the biggest of them all. The truck carrier profession can often seem like one big resolution.

Trucking bookkeeping is one of the most important activities of successful owner-operators. The receipts and records you keep are used in some areas of your business – income tax reporting and minimization, warranty issues, maintenance information and monthly profitability, to name a few. The more organized and thorough you can be in your receipt gathering, the better, whether you hire a business services provider or not. You can simplify the trucking bookkeeping task by following six simple practices that translate to higher profit with less hassle.

Every owner operator needs to understand trucking bookkeeping for truck drivers. Fortunately, you don’t need a degree in accounting to handle this aspect of the business.

Here Are Six Tips for Handling Chores of Trucking Bookkeeping Correctly:

Use the right accounting system: Most businesses use either a cash-based or accrual based system. With the cash-based system, you count income when you receive money and expenses when you pay them. This is usually the best trucking bookkeeping for truck drivers system.

Maintain Your Records Daily: This is essential to having an accurate picture of where your business is going money-wise. Once you’ve set up your system, keeping the records should only takes few minutes a day.

Handle Checks with Care: This is important because business checks are almost as easy to use as cash, which sometimes invites fraud or misuse. Make sure you sign checks in a clear, legible way that discourages forgery. And, when you review canceled checks from your bank, make sure they’re for authorized expenses. Of course, the vast majority of employees and business partners are completely trustworthy. But, as the old saying goes, it always pays to check twice.

Use a Banking Account with a Month-End Cutoff: This is one of the most overlooked rules of trucking bookkeeping for truck drivers. Yet it’s also one of the most important, since coordinating your monthly records will prevent mistakes and misunderstandings.

Keep Your Books Audit-Proof: This applies to both IRS and state fuel tax matters. Maintain separate checking accounts for your personal and business expenses. Save receipts for every business-related purchase. In fact, you may want to create digital copies of each receipt by scanning them into your computer. That way, if the tax collector does come a calling, you’ll have all your ducks in a row.

Use the right Trucking Bookkeeping for Truck Drivers: Of all the tips mentioned above, this one is the most vital. It’s also why trucking bookkeeping software is highly recommended. The trucking bookkeeping software was built by Truckers Helper LLC for truckers. It offers important features that general purpose programs just can’t match, ones that can make all the difference when it comes to your trucking business.

Find out how good the trucking bookkeeping software is for your trucking business by taking it for a free trial starting today. For further information, contact Truckers Helper LLC.

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Raise Your Fortune in Trucking Using Smart & Advanced Dispatching and Load Management Tools

Trucking software is playing a vital role in management of trucking businesses. It serves total needs of trucking businesses and also helps in maximization of ROI. It helps maintaining healthy and fruitful relationships with customers, freight brokers and other associated entities of trucking business. It directly assists trucking managers in maintaining logistics and supply chain operations. It helps minimize transportation costs while executing with greater control as well as visibility at the same time. It also consist of smart and advanced dispatching and load management tools for trucking managers which helps to push your business to the top position amongst your competitors.

Set the Stage of Your Success Using Improved and Efficient Technology

Dispatching and load management tools in trucking software is specially designed for the ever growing needs of trucking functionalities such as fuel carriers and fuel logistics services. It vividly assists to enhance staff productivity, better customer service, better employee performance, and enhanced asset utilization. It renders the capability of tighter and smarter control over operational activities like operational costs, overhead costs, etc. It can help to expend your business area by providing inventory management and other qualitative management tools.

Optimize Dispatching& Load Capacity Choosing Right Tools for Business

Automated scheduling and dispatch of carriers allow you to save on the important time and resources by speeding up the process. The dispatching and loads management tool system is adequately adapted to make schedules and routes to optimize efficiency and minimize expenses making it more viable for the business. It avoids any delay due to manual approval and documentation for dispatch by automatically pushing the freight to the nest stage once it is ready.

Dispatching board is a unique tool. You will use it to manage what loads you get if it tells you anything you could even do it while you’re driving. That’s right, you heard it right why spend hours on excel putting in work when you could simply save your time with this too. Carriers with full truck loads and less than-truck loads can be managed for greater output with same resources with smart truckload planning using dispatching and load management tools. Trucking companies are trying to optimize the load capacity for single as well as multi-carrier fleets by opting for trucking software with plans and distributes loads in a way that there is proper utilization of load capacity.

Proper scheduling with Efficient Management Offers a Lasting Impression

Trucking applications help establish a fine tuning with the clients, manufactures, brokers, distributors, as well as third party logistics firms. It also helps in complete transportation and warehousing needs of the business. Its dispatching and load management tools align all the activities of transportation involving movement of goods from there sourcing to the final locations. Its better quality insight offering tools and techniques meet the demands of the clients and also in sustaining the efficiency of the supply chain in a business. Through, efficient supply chain the company can achieve better cost control as well as continuous improvement. The software is able enough to improve delivery and shipment time which results in better customer relations, customer retention and customer satisfaction.

Most of the programs today work with any computer including Macintosh and Linux, which means you have more options available. All you need to do is sign up with one of the company providing dispatching and load management tools in its software. Once you open your account, you can expect to track your trucks and workloads with ease or get quotes anytime you choose. All you need to do once you have your data in place is send them to the right location. One-click of a button is all it takes to get your business done right.

The programs today offer you more flexibility with reliable tools and features including:

Detailed statistics

Affordability

Ability to post loads onto the online truck stop

One-click invoices with quick Book tools and features

Detailed carrier data with D.O.T tracking abilities and M.C. numbering

It is obvious that the software must have dispatching and load management tools to enable the truckers for easy understanding of their investments and profits. It should be saturated with features and tools that allow you to create reports, income files, invoices, and much more.

The main aim of the trucking business is to deliver goods on time with maximum accuracy. Therefore, if you use trucking software with dispatch and load management tools then you can have valuable hawk eye to watch the transportation operations virtually supporting your supply chain criteria.

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Manage Supply Chain with Effective Trucking Software Solution

When you consider the requirements of maintaining and monitoring a trucking fleet, it will be quite difficult to look after every minute detail. But this can be easily done by using reliable trucking software.  On the surface the trucking business sounds simple. Most people not in freight transportation might think to themselves “Trucking is easy”. Most of the people those are in freight transportation know how many details must be managed just to move that freight from one place to another. So trucking software is a must for smooth management of trucking business. There are also trucking software for small fleets which helps the owner to run his business without wasting time in hectic paper works.

Powerful Business Solutions from Trucking Software Applications

Software technology has completely changed the functioning of the trucking business; as it has brought an element of efficiency in the whole system. Capitalizing on this new technology, the trucking industry is looking forward to adopting new innovations. Trucking software for small fleets has enabled the trucking business owners, to bury conventional methods and get adapted to the modern way of functioning. As a result the whole trucking industry has become competent with respect to various other contemporary industries.

Modern trucking software for small fleets provides a classified version of all the features required to manage trucking business. Owners of trucking business can now attain a broader view of their entire business. Moreover, they can keep a track on the activities of their business by utilizing the classified information stored in this software.

Features of trucking software for small fleets

· Ship date and delivery date

· Place of origin and destination of the journey

· Load identification number and name of the carrier/driver

· Status of the load

· Edit feature and many more

 All these features enable the user to identify the status or position of the trade at a particular point of time, and also help him to extract the desired information. One of the special features in the software is that it supports the trucking business owners to know the complete payment description to a driver, for a particular load or career, and also the amount of payment and other related information.

 Trucking Software: Answer to All Trucking Needs

Trucking software for small fleets has simplified the process of accounting and book keeping. Now, no more manual accounting is needed, as the features in the software like account manager can be utilized to maintain all the requisite accounts. Invoice can also be prepared through this software and latter on a print of the invoice can be taken out. All the important records of the trucking business can be maintained through this software. Prints of various records, including accounts and invoices can be taken out, to substantiate the information filed for tax and audit purposes.

Trucking software helps establish a fine tuning with the clients, Manufactures, brokers, distributors, as well as third-party logistics firms. The main aim of the trucking business is to deliver goods on time with maximum accuracy. Therefore, if you use trucking software for small fleets, then you can have valuable hawk eye to watch the transportation operations virtually supporting your supply chain criteria.

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Common Trucking Bookkeeping Mistakes Freight Brokers Often Make

Freight brokers do have a lot of responsibilities, from carriers to ensure each piece of cargo gets to the right place and matching shippers. Another essential task in this busy industry is trucking bookkeeping. Freight brokers who don’t prioritize trucking bookkeeping can end up losing money in the long run. Here are a few common trucking bookkeeping mistakes freight brokers often make and guide to help you avoid them.

DIY Efforts to Make: Many business owners insist on handling the books themselves or delegating the task to an inexperienced employee or family member to save money. While you may firstly save money and time, costly results can effect in higher bond premiums, more expensive financing terms, and other unforeseen expenses in the long run. Hiring competent trucking bookkeeping software will save you money because the job will be done quickly and efficiently with fewer errors.

Rescheduling Important Tasks: Keep any business running is tough as it requires a lot of hard work and dedication. Many freight brokers find themselves surrounded with busy schedules doing the day-to-day work to emphasize on important trucking bookkeeping tasks such as reconciling bank and credit card accounts each month. Reconciling statements helps you catch errors and know how much cash or credit you actually have. Although rescheduling this task may be tempting, you should reconcile your bank and credit card statements every month, preferably as soon as each statement is available. That way, you can identify any missing deposits, fraudulent charges, lost checks and address these problems in a timely manner.

Not Tracking Receivables and Invoices: If you are not probably accounting for receivables, you cannot get paid. Getting paid equals cash, the lifeblood of every business. Experienced freight brokers know that the delay between when you must pay your carriers and when you receive payment from your customers can strain your cash flow. If collecting and tracking invoices takes too much time, consider invoice factoring. For a small fee, an invoice factoring company will purchase your invoices. You’ll get paid immediately without the time and expense of dealing with collections.

Ignoring Liabilities: When collateral looks at your business financials to underwrite a bond one of their major considerations is whether you have enough assets to cover your liabilities. Inexperienced tricking bookkeeping auditor sometimes remembers to record a liability, but then forget to reverse the liability when the payment is made. This error results in an overstatement of liabilities and an understatement of net income, making your business look less financially stable than it actually is. You can avoid this type of error by hiring an experienced trucking bookkeeping auditor. It’s also a good idea to have another set of eyes (either an owner or a CPA) review the balance sheet regularly and look for unusual account balances.

Miscategorizing Expenses: Another common error often made by inexperienced trucking bookkeeping accountants is miscategorizing the expenses or creating too many expense categories. Most businesses and industries have a fairly standard set of expense categories. Miscategorizing expenses or creating too many categories can be a big red flag, signaling to a surety or loan underwriter that your books are not well prepared. Set up your trucking bookkeeping software correctly from the start with the help of an experienced bookkeeper and don’t add new expense categories without careful consideration. If you are unsure of how to classify an expense, ask your CPA or bookkeeper for guidance.

Missing Information on Invoices: When invoicing your customers, you need to provide sufficient details on each line item. For example, is the charge a flat fee, or do you invoice per mile, per piece, or by weight? If you include additional charges, such reimbursement for fees or fuel, you should list these as separate line items. Make sure the charges are properly detailed so there is no confusion. Including the necessary details on your invoices will prevent pushback from your customers for charges they don’t recognize. Any missing information can cause delays in payment – a headache no business owner would like to take.

Want to have a hassle-free trucking business? Get trucking bookkeeping software and an experienced auditor to work actively. Help your freight brokers avoid these common mistakes so that you don’t have to suffer later. Make the right decision today!