5 Ways Trucklogics Improves Accounting For Trucking Businesses

One of the toughest aspects of running a business is expense tracking. Whether you’re following your income and expenses, invoices, or taxes, if you do track things the old fashioned way you bound to make mistakes.

Even with a spreadsheet system like Excel, you’re going to find yourself losing track of your income and expenses eventually. You’re not an accountant, after all.

But with TruckLogics, you can simplify every aspect of trucking business management. As you grow your truck fleet with TruckLogics, you’ll come to love all of our income and expense tracking features.

Fuel Expenses

With TruckLogics, you can quickly record details from every fuel purchase by logging each time you purchase fuel, the vehicle that was filled, the number of gallons, fuel type, and total cost of the sale, the odometer reading, and the location of purchase. You can also upload an image of the receipt of that transaction itself!

Driver Settlements

Instead of bogging yourself down with complicated driver settlements, TruckLogics helps you calculate pay with deductions, reimbursements, or advances within minutes.

• Hauling Charges: Calculate driver pay based on your settings. You can choose how you will pay your driver, and the hauling charge will be determined instantly.
• Fuel Surcharges: Determine your fuel surcharge based on mileage, a percentage of the revenue, or a flat rate per trip.
• Add Accessorial Fees: Add accessorial fees by choosing the fee type from the drop-down menu or choose your own custom fee type. 
• Add Reimbursements & Deductions Amount: Reimburse drivers for expenses by adding the total and reason to the settlement, and our software automatically adds the reimbursement to their balance.
• Advance pay for the Driver: Calculate deductions for advance pay and late deliveries from the final settlement balance by adding the cost and reason for the deduction.

Equipment Expenses

Running your company means you need to balance the book, which means you need to watch your equipment expenses! When you need to track your expenses, as well as your repairs, you need to get truck maintenance software. 

With TruckLogics, you can record payment details by information, method of payment (cash, check, credit card, or EFT), and the total amount of the transaction. You just select the expense category from the drop-down menu or add your own custom categories for your business. You can also split an expense between categories by clicking “split.”

Invoice Creation

Need truck invoice software? After you create and dispatch a load in TruckLogics, your invoice is ready to go. All you need to add is a fuel surcharge, then send it to the client.

We don’t believe in wasting time and money, so our automated reminders will remind you when and how you’ll get paid.

Reporting

TruckLogics provides you with robust reporting features to see where all your money is going.

You can run profit and loss reports for insight into your bottom line, equipment maintenance reports to see how much money your vehicles are making you, and year-end tax reports that you can use to help file your taxes faster.

Try TruckLogics

No matter what your business needs are, TruckLogics is here to make it easier. You get a 15-day free trial today to see how easy accounting can be with TruckLogics.