Accounting Services for Trucking Companies
Significant changes have taken place in the freight forwarding industry in recent years, bringing both obstacles and opportunities for logistics companies. Challenges such as interstate registration, multi-state taxation, solvency, mergers and acquisitions, and labor shortages can hinder business growth. On the other hand, the unprecedented growth of e-commerce has led to an increase in the demand for transportation, thus increasing opportunities for businesses to generate higher revenue.
Transportation companies need specialized truck accounting services to help them meet the challenges and opportunities in the logistics industry.
Acme Accounting Inc. specializes in providing logistics accounting services to the largest carriers in the trucking industry. As one of INSIDE’s Top 300 Accounting Firms, we have decades of experience serving the financial and accounting needs of the nation’s leading logistics companies. Our professional team of trucking accounting has the knowledge and experience to help major trucking companies and large carriers improve their profit margins so they can thrive in a highly competitive business environment.
Accounting is an essential part of any business, including in the accounting and transportation industries. Each industry’s accounting requirements are different and have unique accounting characteristics. When we talk about trucking and transportation industry accounting, there are many freight accounts, invoices, accounts receivable, etc. Therefore, it is very important to consciously deal with these accounting requirements.
Here are some key things to keep in mind when doing accounting in these industries:
Here are some typical terms to consider when doing accounting in the trucking and transportation industry.
Freight and transport invoice:
Freight is an integral part of a transportation company and is one of the largest costs that the company incurs when transporting goods. For this reason, it is essential to document freight and transport invoices or delivery notes. We understand the need for excellent cargo management accounting and have worked hard to meet it.
In the transportation and forwarding industry, many invoices are sent and received every day. This makes these companies prone to errors, so the accounting must be very accurate and the invoices must match the available data to avoid errors in the final balance. Acme Accounting Inc. takes care of all these aspects to guarantee a good service to its clients.
Among other accounting needs, Acme Accounting Inc. also handles efficient payroll processing. We take care of the payment periods of our clients, we manage the payroll of our employees and we also analyze the payroll to give a better and clearer vision to our clients.
We understand the value of uniqueness in this industry and have therefore developed the most suitable accounting software package for trucking and transportation companies. Below you will find an overview of our services.
We carefully manage accounts payable for our clients in various industries, including the trucking and transportation industry.
Like accounts payable, we also keep good records of accounts receivable that have already been received or are yet to be received. We make sure the company runs smoothly and maintains its business strength.
General Accounting and Budget
We maintain the general ledger and prepare the budget for our clients based on their needs.
Asset and liability management
This is an important aspect of accounting; They manage the company’s assets and take care of the liabilities. An imbalance in this approach can be detrimental to business, so we address this need so our clients can focus on what matters most.
Cash flow management We ensure the financial soundness of a company and ensure that cash flows are paid on a regular basis. And that’s what cash flow management is all about.
Along with all of these services, we at Acme Accounting Inc. also make sure that a business meets industry standards. We also accurately manage KPIs.