Sticking to a regular schedule for data entry and review, using fuel cards for managing expenses, and consulting with an accounting expert when necessary can help improve efficiency. Many companies use trucking accounting software to make managing their finances easier and more efficient. Axon claims to be an all-in-one accounting software for trucking companies with mid-size and larger fleets that will help increase productivity. So if your accounting department is overwhelmed by the workload, Axon may be able to help.

Advance Your Trucking Business with Double-Entry Accounting on FreshBooks

Accounting explains your company’s financial history, health and overall performance. Without a good understanding of this information, you won’t know if you are succeeding or failing. That limits your ability to make informed decisions, operate effectively and position your company for future growth. Some of the links that appear on the website are from software companies from which CRM.org receives compensation. Axon does suffer from some minor criticism because some of its users claim this is not the most user-friendly accounting tool for the trucking industry. If you are looking for a robust bookkeeping tool that can be applied to the trucking and shipping industry, you might prefer something more standard like Quickbooks Online.

See exactly how your trucking company is performing with profit and loss, accounts aging and expense reports. Trucking businesses want accounting software that’s web-based, accommodates multiple users, tracks project financials effortlessly and creates easy-to-read reports. They also want an affordable solution that can keep pace with them as their company grows. Tax season is already stressful, but the right accounting software can make it a seamless process. Some software even offers free filing, which means they’ll generate tax reports for you based on your year’s finances and submit them.

Which trucking software accounting option is best for me? Our conclusion

Equally important is the ongoing customer support provided by the software company. Post-purchase, it’s crucial to have access to assistance for any technical issues, updates, and questions that may arise. The best trucking accounting software providers typically offer multi-channel support, including phone, email, and chat support options. Another example is Axon, a trucking accounting software, which offers integration with both QuickBooks and Zoho Books. Such integrations enable trucking companies to synchronize data between the accounting software and Trucking Management System (TMS) for improved efficiency. FreshBooks now offers an industry standard double-entry accounting system for the owner who want to take their business to the next level.

Bookkeeping Software Built for Your Trucker Business

For example, their IFTA mileage tracker auto-records toll and non-toll mileage to automatically create IFTA tax reports. Our guide below covers everything you need to know about accounting software for trucking but first, here is a quick list of our top choices. Are you looking for ways to expand your business or cover operating expenses? All businesses need to keep track of their expenses, but it’s more challenging in some industries than others.

Invoice Management & Billing Solutions

1. Meanwhile, the HVUT is an annual fee that truckers must pay if they drive a vehicle that’s at least 55,000 pounds for more than 5,000 miles on public highways.
2. Sage Intacct automates inter-entity transactions, including transfers and eliminations.
3. It’s a decision-making strategy that results in a stronger balance sheet at the end of the day as you learn how to optimize your business in a predictive instead of reactive manner.
4. These include focused tools for freight haulers, freight brokers, and oilfield trucking.
5. You can then submit the report electronically to state authorities to avoid any potential late fees.

It also manages employee and contractor paperwork like W-2 and 1099 forms. General accounting software is typically the cheapest, followed by trucking-specific accounting software. Depending on the provider, most companies can find software that costs $5 to $25 per month. Trucking management software is most often used by companies managing medium to large fleets. Owner operators and small fleet owners may have a hard time justifying the higher cost of a full TMS if they are unlikely to use the extra features.

While a free software solution is always a nice thing, some larger trucking businesses may find TruckBuyts to be a bit too simplistic, lacking things like driver settlements features. Firstly, Rigbooks comes with a fantastic mobile app for owner-operator TMS. The mobile app is well designed, intuitive and covers all the basic tools of management software for owner-operator truckers. To make things easier, our accounting software now includes double-entry accounting – an industry standard features that helps you keep all of your debits and credits in adjusting journal entries check. With a complete picture of the financial status of your business you are better able to make informed decisions about your business finances.

These spreadsheets can be specifically tailored to the trucking industry, enabling trucking companies to track their finances and performance efficiently. However, they might not offer the full range of features available in specialized trucking accounting software. It is important to evaluate if these options meet the particular need of a trucking company’s bookkeeping requirements. Q7 Trucking Business Software by Frontline Software Technology is one example of a comprehensive accounting solution for small trucking businesses. It offers a trucking management system (TMS) that integrates fleet management and dispatch operations with important accounting functions like A/P, A/R, and banking. While trucking accounting software typically refers to a standalone product, some trucking accounting solutions are just one component of a comprehensive trucking management system.

There may be separate types of user accounts to differentiate between back-end workers and drivers on the road. It is important to have different account categories for truck purchases, repairs, and truck loading and unloading tools. Invoices can be auto-generated, fuel card data can be imported directly from any major provider, and taxes (including IFTA) can be calculated.