Showing 1-20 of 93 products
NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read more
Recent recommendations: 56 recommendations
For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read more
Recent recommendations: 37 recommendations
Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insights... Read more
Recent recommendations: 34 recommendations
FINSYNC provides multi-user cash flow management in the cloud to US-based small and medium-sized businesses. Businesses can upgrade from payments to invoicing, bill pay, payroll, project tracking, time tracking, expense reimbursement,... Read more
Recent recommendations: 32 recommendations
Your cloud-based, all-in-one business management solution. Striven is ready for your business right out of the box. With fully integrated accounting, CRM, inventory, project management, human resources features, it's the only software... Read more
Recent recommendations: 19 recommendations
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read more
Recent recommendations: 4 recommendations
Infor CloudSuite Financials is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the cloud. It delivers... Read more
Recent recommendations: 2 recommendations
zHUB is a Focus Softnet implementation partner. The FOCUS9 ERP Cloud software solution includes Advanced Financial Management, Sales Management, Accounts Receivables & Payables, Inventory Management, Manufacturing & Resource Planning,... Read more
Recent recommendations: 2 recommendations
Oracle JD Edwards EnterpriseOne is a cloud-based Enterprise Resource Planning (ERP) and supply chain management solution that provides ERP applications and tools for finance, consumer goods, human resources, distribution and manufacturing... Read more
Recent recommendations: 1 recommendations
nQativ’s Activity HD is an accounting and payroll solution suitable for small to mid-size companies. It offers tools to sort, filter and present data, plus security features to satisfy data confidentiality requirements. Activity... Read more
Recent recommendations: 1 recommendations
Sage Fixed Assets is a hybrid asset management solution that helps businesses track and manage the fixed assets through different steps of asset lifecycle. The solution offers integrated accounting features and multiple methods to... Read more
Recent recommendations: 1 recommendations
Sage X3 is a powerful ERP software solution designed for medium-to-large national and global manufacturers, distributors, and after-sales providers and can establish a foundation for your digital transformation. Sage X3 comes with... Read more
Deskera ERP is designed as a powerful and intuitive suite of business solutions with one goal in mind – to make digital transformation simple. This transformation has to be simple and economical. It is why Deskera has trusted users... Read more
Recent recommendations: 49 recommendations
Microsoft Dynamics 365 is a financial management solution that helps businesses track and manage operations related to accounting, costing, budgeting, analysis and more. The platform offers a rule-based chart of accounts and dimensions,... Read more
QuickBooks Online Advanced is a cloud-based accounting solution that helps small to large enterprises manage expenses, projects, invoices and more. It comes with a centralized dashboard, which enables users to gain insights into business... Read more
Wave is an online accounting platform exclusively designed for small business owners, freelancers, and consultants. Wave's software provides features including accounting, invoicing, billing, payment tracking, payroll management, finance... Read more
Happay is a cloud-based expense management solution that helps medium to large businesses manage and track expenses. It uses AI and machine learning technologies to automate processes related to expense claims management, reimbursement,... Read more
QuickBooks Enterprise is an accounting solution designed for SMBs across different industry verticals such as construction, nonprofit distribution, manufacturing, and retail. WIth QB Enterprise solution, any business owner can expand... Read more
TimeSolv is a cloud-based time tracking and billing solution that caters to accountants, consultants, architects, and freelancers, helping them manage daily business operations. TimeSolv integrates project management features such... Read more
Zoho Books is a cloud-based accounting solution suitable for small organizations. It features contact management, invoices, expenses, sales and purchase orders, project time tracking and inventory management. Zoho Books comes with... Read more
Trucking accounting software, also known as transportation accounting software, is used by fleet management companies to integrate various accounting and transportation-specific tasks, including:
- Automating core accounting
- Tracking and reporting on driver expenses
- Assisting with tax compliance
- Monitoring fuel costs
- Managing depreciation for fleet equipment
- Organizing payroll
We’ve created this guide to help prospective buyers in the trucking industry evaluate the various accounting products on the market and choose the best solution for their business.
Here we'll cover:
What Is Transportation Accounting Software?
Trucking companies have specialized needs when it comes to accounting. Not only do they need to manage their books, bill and invoice clients and manage equipment depreciation, but they also have to keep track of inventory, heavy machinery and extensive travel for their drivers.
Therefore, aside from standard accounting features like general ledger, accounts payable and accounts receivable, these accounting systems will have freight, per-mile and other transportation-specific pricing, and will support driver and vehicle tracking, reservations and dispatch and mobile solutions to facilitate driver-dispatcher communication.
Aside from standard accounting features like general ledger and accounts payable/receivable—the inventory, heavy machinery and extensive travel associated with transportation and trucking presents unique challenges and needs. Software dedicated for this industry will have freight, per-mile and other transportation-specific pricing, and will support driver and vehicle tracking, reservations and dispatch and mobile solutions to facilitate driver-dispatcher communication.
Common Features of Trucking Accounting Software
Look for the following features in a transportation or trucking industry accounting software program:
|Core accounting||“Core accounting” is an umbrella term that encompasses the basic accounting functions required to run a business. This includes general ledger, accounts receivable, accounts payable and bank reconciliation.|
|Fixed assets||Fixed assets include any machinery and facilities owned by a business and in operation for longer than a year. Systems help manage inventory, tax compliance, insurance costs and track depreciation for trucks and other fleet equipment.|
|Expense management||Allows drivers to capture business expenses due to travel (including mileage, lodging, food etc.), create expense reports and submit claims to management for reimbursement.|
|Financial reporting||Automates the process of running financial reports including expense reports, profit and loss (P&L) statements and balance sheets. Increases transparency into financial records and allows for more accurate data tracking.|
|Payroll||An integrated payroll module can help track driver expenses, wages and benefits and simplify tax preparation. Features such as direct deposit help streamline the payment process so employees are paid promptly and the wages are available for immediate use.|
|Safety and compliance||Between fuel taxes and other surcharges and restricting driver hours, transportation software helps improve compliance in this heavily regulated industry. This includes driver qualification, physicals, drug screens, MVRs, remedial action and flags to the dispatcher for drivers not in compliance.|
|Fleet maintenance||The Department of Transportation—as well as the business itself—wants every accident and maintenance detail to be reported. Fleet management modules make it easy to report accidents, process claims, schedule repairs and routine maintenance and track the value for tax and financial management purposes.|
|Reservations, routing and dispatch||Software designed specifically for the transportation industry usually includes dispatching capabilities, which allow the user to integrate load orders, plan routes, optimize trips and estimate costs to support rate quoting. Additional modules like flight tracking can provide estimated plane departure or arrival times, and passenger vehicles like airplanes or limousines will benefit from a reservation system that can manage customer profiles, send email confirmations and even accept online requests.|
|Mobile solutions||Mobile solutions are critical for effective communication between the drivers and the corporate office. Mobile features for transportation and trucking will let the dispatcher send orders, pickup and delivery information and route maps to the drivers’ smart phone or onboard GPS. Then, trip/freight status can be electronically sent back to the dispatcher (with GPS verification), while the driver uses a smart phone to scan and send load documents and trip reports.|
Evaluating Transportation and Trucking Accounting Software
Various fleet management organizations use transportation accounting software, including:
- Long-haul shippers and local delivery fleets
- Public transport, such as metro buses and taxi companies
- City utilities and waste management
- Law enforcement
Transportation accounting software automates many of the dispatching and fleet management tasks, freeing up your drivers’ and dispatchers’ time. When selecting your software, then, the first thing to consider is any frustration employees experience at routine or mundane tasks, as well as the places you’re spending money that’s not directly producing revenue.
Specific questions to ask when evaluating these systems are:
- Do you carry passengers or freight?
- Do your customers need to make reservations? If so, do you want them to be able to do that online?
- How complicated is your routing? Would you benefit from an automated routing solution?
- Do your drivers already have smart phones or GPS to integrate as part of your mobile solution?
- How many vehicles do you have?
Answering these questions will help you narrow down the list of trucking accounting products and focus on those best suited for your business.
For example, if you’re a taxi or car service company and your clients are the cargo, you’ll want to look for a transportation accounting solution with a passenger app. This will allow clients to hail a taxi from their smartphone, but will also allow passengers to pay through the app when the ride is over. This reduces ride-theft and streamlines the payment process.
If you manage a shipping company, you may want to consider a system with telematics capabilities. Telematics software records data on your employees driving habits, including average speeds, fuel usage and braking tendencies. This can provide you with insights into traffic routes and fuel costs, helping you to cut expenses and encourage good driver behavior.
Market Trends to Understand
Prospective buyers should keep the following market trends in mind as they evaluate trucking accounting solutions:
BYOD: The practice of allowing employees to use their personal mobile devices for work-related tasks (i.e., laptops, smartphones and tablets) instead of corporate-issued technology is having a profound impact across industries. While helping to cut IT spending on hardware, critics have raised concerns about possible security issues. As the trucking industry is especially reliant on mobile devices and applications, it’s an interesting trend to consider and fleet managers should carefully weigh the pros and cons before deciding on a course of action.
On-demand truck services: Also known as “Uber for trucking,” these apps help connect shippers with licensed carriers. The shippers gain access to trucks and GPS services and carriers can fill the empty space in their trucks and reduce the number of “empty” miles a trucker drives. Read more about this service here (fourth idea from the top).
Apps for truckers: Mobile applications aimed at the transportation field are having a big impact on the industry. These include alternative maps apps, such as Path Pro, that target truckers, highlighting weigh stations, rest areas and other trucker-specific locations of interest; KeepTruckin that helps users track miles and time they are driving to stay in line with government regulations; and, NOAA Radar that helps keep drivers informed of weather patterns in their areas.