Running a trucking company is not a simple task. From handling fuel expenses, monitoring loads to managing payroll and ensuring tax compliance, there is a great deal to manage. This is where they play a role in QuickBooks Trucking software. QuickBooks is easy to use in accounting tools, it can be a disruptor for QuickBooks for trucking companies.
Whether you are a single-owner to operate or oversee a fleet, this is helpful for you to manage your business finances all in one location. In this straightforward, we will tell you about what the QuickBooks Trucking software is, how it helps for you and why it is such an important option QuickBooks for trucking business.
What is QuickBooks Trucking Software?
QuickBooks Trucking software is not an individual product designed by Intuit. It refers to the way trucking companies frequently utilize QuickBooks, often with the assistance of trucking management integrations. You begin with a version of QuickBooks Online or QuickBooks Desktop and then add trucking-specific functionalities using third-party applications or custom configurations. These assist you in monitoring loads, like mileage, fuel expenses, truck maintenance, managing expenses, drive settlements and paying drives and calculating IFTA (International Fuel Tax Agreement) reports more simply.
Why do Trucking Companies use QuickBooks?
Here’s why trucking companies use QuickBooks.
Simple Accounting
You don’t require to be an expert to, QuickBooks makes Accounting easy.
- Track your income and expenses.
- Get financial reports.
- Send invoices.
- Receive payments.
- Connect your bank account.
It conserves time and decreases the chances of mistakes.
IFTA (International Fuel Tax Agreement) Tracking
Monitoring fuels and mileage across stages can be challenging. QuickBooks can integrate with IFTA-tracking tools that simplify it.
- Track miles by state.
- Record fuel buy.
- Calculate your fuel tax file.
This means to reduce penalties and improve compliance.
Driver Payroll
QuickBooks Payroll pays your driver makes it simple. Whether you are a full-time staff member or a freelance worker, you can:
- Deduct taxes automatically.
- Send pay stubs.
- Pay weekly or bi-weekly.
- File payroll taxes.
Forget about calculating hours and taxes manually.
Track Loads and Invoices
You can generate invoices for every delivered load and monitor which clients have payments. This assists you take control of your cash flow.
Fuel and Maintenance Expenses
Fuel is one of your biggest costs. QuickBooks lets you categorize and track every fuel receipt. You can also maintain and repair costs to see the full picture of your expenses.
How to Set Up QuickBooks Trucking Software
It is simple to set up QuickBooks for your Trucking business in only a few steps.
Step 1: Select the Right Version
Choose between QuickBooks Online vs Desktop according to your business size and needs.
Step 2: Set Up Your Chart of Accounts
This is a report of documents for your income and costs. The monitoring involves.
- Truck Payments
- Insurance
- Fuel Expenses
- Driver Wages
- Maintenance & Repairs
- Tolls
- Permits and Licensing
Step 3: Add Customers and Jobs
Every client or broker can be configured as a customer. Every load or route can be monitored as a task.
Step 4: Track Mileage and Fuel
Mileage and fuel can be tracked using applications such as Motive or Samsara. They can be synced with QuickBooks or information may be selected manually.
Step 5: Invoice and Get Paid
Generate personalized invoices containing load information. Include fees, taxes, and conditions of payment.
Step 6: Use Reports to Monitor Profits
Consistently review your profit and loss statements, driver costs, and load profitability
Key features of QuickBooks for Trucking Businesses
Here are explain key features of QuickBooks for trucking businesses which mentioned below.
Mileage & Fuel Tracking
- It helps you record how much distance you cover in your drive.
- It provides the fuel purchase, keeps the records so you can see how much you invest.
- When used with other apps can assist with IFTA fuel tax reporting.
Make and Send Invoices
- Generate and submit invoices to clients post-load delivery.
- Receive quick payments as individuals can pay you online.
- Automatic invoices should be set up for regular customers.
Keep Track of Your Expenses
- Connects to your bank and credit cards to monitor expenses.
- Automatically categorizes your expenses such as fuel, tolls, repairs, etc.
- You can take a photo of you slip and store it within the app.
Pay Your Drivers
- You can manage payroll and compensate your drivers based on the mile, hour or load.
- Handles payroll taxes to ensure compliance with legal requirements.
- You can establish a direct deposit to pay your drivers quickly.
Works with Trucking Apps
- Integrates with apps such as Motive, TruckLogics, or DAT Load Board.
- These applications assist with tasks such as monitoring your loads, IFTA reporting, and optimizing your routes.
- QuickBooks retrieves that information to ensure everything remains organized.
Keep Your Trucks in Good Shape
- By using add-ons, one can monitor maintenance and repair records.
- Reminders for oil changes, inspections, and more should be scheduled.
Popular Trucking Software that Works with QuickBooks
You can enhance your trucking operations by connecting QuickBooks with these tools.
| Trucking Software | What It Does | Works With |
| TruckingOffice | Dispatch, fuel tracking, IFTA | QB Online & Desktop |
| ProMiles | Fuel tax reporting, routing | QB Online |
| Axon Software | Full trucking ERP system | QB Desktop |
| KeepTruckin | ELDs, driver logs, and GPS tracking | QB Online |
| Rigbooks | Owner-operator management | QB Online |
Conclusion
In conclusion, QuickBooks trucking software is helpful for trucking businesses. That makes it simple to handle costs, send invoices, track mileage and keep your records organized. If you are a small business owner, it is helpful to save time and keep all your financial data in one place. Finally, it is a technique to quick your trucking business more seamlessly and keep track of your finances.