Trucker Accounting Service

Trucker Accounting Service

truckers bookkeeping service

This includes things like when you wash your truck at a coin-operated facility or need to record mileage for business use of your personal vehicle. Provide a monthly record to your business services provider or tax accountant and any other receipts. You want to be able to deduct as many legitimate costs as possible.

File for your Unified Carrier Registration (UCR)

This makes it easier to keep track of things when it’s time to total everything up. Check expenses to your bank accounts to make sure they are legitimate expenses, especially if you’re not the only one with access to the account. With an accrual system, you recognize revenue when it’s earned (before it’s paid) and bills when received (before they are paid). Then, you reconcile accounts each month to ensure they sync up.

Register With the US Department of Transportation (USDOT)

It allows you to keep your financial statements organized and gives you an idea of how your business is performing. As a truck driver, you may have a hard time keeping good records while on the road. That’s why it may be best to look into using a bookkeeping service for your business that works specifically with owner-operator truck drivers. It’s essential to keep track of purchases throughout the year in preparation for tax season.

Have More Free Time

  • With automated spreadsheets, you can develop a money management plan that keeps your business on track and profitable.
  • Check out these five nationwide trucking bookkeeping services to get started today.
  • You can simplify the bookkeeping for your trucking company by following these 11 simple practices that will translate into higher profit with less hassle.
  • One out of every 25 owner-operators gets audited by the IRS for taxes each year.
  • Ideal for small transportation companies without in-house accounting, their team of accountants can take care of your accounting and tax preparation needs so you don’t have to.

I couldn’t imagine being out here on the road without the support that Trucker CFO provides for our business. Listen to our Trucker CFO mini-cast to learn how we can help with your accounting needs. The Trucker CFO Team can deal with the receipts while you deal with the Prius in your blindspot. ATBS has helped our business run smoothly by inputting our receipts every month and keeping our business between the lines.

Access documents at any time

Waiting on invoices to be paid in full makes it difficult to grow your business. With freight bill factoring through TBS, you can get paid hours after delivering a load. Use your working capital to help improve and expand your business, and let TBS take care of your back-office billing and collections. Electronic invoicing and payments make sending and paying bills and getting paid simpler and faster. Keep an eye on the money going in and out of your bank account to ensure you are getting paid what you’re owed. Because you’re always on the go, there’s no better solution for your business than having the information you need at your fingertips.

truckers bookkeeping service

If you decide to hire a compliance service, this e-book will guide you through some of the regulatory and safety questions to help you get the most for your money. You must keep all records used to prepare your tax return for three years from the date you filed the return. Keeping your business’ books is a full-time job and a critical part of your operation. The Trucker CFO is a Certified Public Accountant (CPA) who specializes in helping owner-operators, independent contractors, fleet owners and trucking entrepreneurs. With our bookkeeping service, we utilize strategies and solutions to help you manage your money effectively and help increase your profits.

Bookkeeping for Owner-Operator Truck Drivers

11 Trucking Accounting Software Reviewed for May 2024 – Business 2 Community

11 Trucking Accounting Software Reviewed for May 2024.

Posted: Tue, 13 Jun 2023 07:00:00 GMT [source]

Your logbook and/or electronic log records are your best proof of entitlement to per diem expenses (primarily composed of meal costs). If you rely solely on your electronic logging device (ELD) for bookkeeping for truck drivers, make sure you can save and access your history. Many of our CPAs have dedicated their careers to finding ways to save truck drivers money and time.

  • To learn more, listen to Colton Lawrence, the Trucker CFO, talk about the importance of working with the right team.
  • From there they can figure out if you have not sent all fuel expense documentation that needs to be submitted, or if you simply spent less on fuel.
  • With the Trucker CFO Online Portal, you’ll have the ready access you need to stay on top of your business.
  • Do you want to start your own bookkeeping business for Trucker’s?
  • TBS Factoring Service makes trucking easier with unmatched technology and customer service.
  • Would you like to be paid the same day you deliver a load, rather than wait for 30 to 60 days?

Tax Reconciliation

If not, you will be happy you took the time to keep your records in order. You can hit the chat button this page or send us an email to to set an appointment to talk with one of our experts. Listen to our mini-cast about how to get startedwith the Trucker CFO. To learn more, listen to Colton Lawrence, the Trucker CFO, talk about the importance of working with the right team.

Bookkeeping Services for Trucking Companies

We stay current on the ever-changing tax code that impacts the industry. The good news is, truckers bookkeeping service has over 50 years of experience in the transportation industry and we’ve helped thousands of truckers get their trucking authority. We’ve created a short breakdown of the steps it takes to go from working for someone else to being your own boss. It’s quite a few steps, but we’re ready to help you navigate the process.

truckers bookkeeping service

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