If you’re operating a trucking company, or even if you’re just in the very beginning of planning to go into business, you are aware that financial management is important. There are two ways your business can be financed: either by making payments or taking investments. In both cases, your financial status will have a significant effect on how your services are perceived. If you want to earn more profits, you have to know what best accounting software for small trucking business is and which one is the most convenient for you.
While there is accounting software designed for the trucking industry, most of them are designed for small companies. Best route here is to go with one that can offer something to everyone from one-person operations to those with hundreds of drivers. The software should be able to handle all the functions you will need from simple accounting to more complex such as taxes, payroll, and inventory management.
ProTransport
ProTransport is another all-inclusive solution, with the distinction that it can be customized for fleets of any size. As such, it may be the best comprehensive fleet-management and accounting solution for smaller operators for whom all the bells and whistles may be too extensive and costly. The system can handle safety, dispatch, accounting, reporting, driver communications and GPS tracking, and integrates with fuel cards, factoring, other accounting software, ELDs and IFTA. The trucking-specific elements of its accounting options include scheduled deductions, automated fuel data and toll importing, truck economy and MPG reports, tracking of invoiced loads and contractor and driver settlements.
TruckBytes
TruckBytes is less comprehensive than most of the others mentioned here, and as such may be a better option for smaller operators. The software is free, which makes it easier for those without extensive resources to invest in accounting to start using an industry-specific solution. The software offers a full suite of accounting functions, including features relevant to trucking, such as tracking loads, payment verification and trip reports. An IFTA service is available as an add-on for a fee. Owner W. Joel Baker maintains a free resource for trucking companies called Learn To Truck, a blog full of tips and advice about the industry.
Quick Logistics Software
Quick Logistics Software (also called RAMA) manages the logistics of trucking and integrates with QuickBooks for accounting. Smaller trucking companies may find this relatively lightweight, simple and affordable offering a good solution. Users input logistics information into a straightforward dashboard and then link that info to QuickBooks Online to enable accounting. The software can handle load entry, shipment status tracking, carrier settlement, invoicing and carrier insurance tracking. This no-frills system is a great introduction to logistics management for trucking companies that have been doing most of these tasks manually and are already set up on QuickBooks Online for accounting services.
QuickBooks
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 business operations using advanced inventory, reporting, and invoice tools, in addition to premium support from Enterprise’s CS and Payroll teams. Quickbooks includes inventory management, inventory tracking, expense tracking, payroll management, invoicing, multi-user management, advanced reporting tools, and more. QuickBooks Enterprise offers customizable reporting tools that help users analyze data and make informed business decisions. With over 200+ auto-filled templates and 70 industry-specific reports, this Quickbooks accounting software helps businesses find the QuickBooks data to solve any business issue. Quickbooks advanced inventory tools allow businesses to gain visibility and control over the inventory management process with the ability to track inventory movement, automatically scan and update inventory items, manage any purchase order/sales order from one dashboard, and plenty more. QuickBooks Enterprise also allows businesses to control, customize, and automate financial transactions with job costing tools, batch invoicing, invoice tracking, cash flow management, fixed asset tracking, sales tracking, payment processing, and more. Businesses also have to ability to scan and attach multiple documents including receipts and quotes for multiple accounting tasks. The tool enables businesses to arrange documents into categories and keep track of important accounting files. This solution also maintains a change log to record changes within each document with the proper date and time stamp. QB also offers different QuickBooks software such as QuickBooks Premier and QuickBooks Pro that includes include different functionality and features.
Dynamics 365
Microsoft Dynamics 365 is a cloud-based CRM ecosystem for small, medium and enterprise organizations, with a focus on Sales, Field Service, Customer Service complete with strong integrations with Microsoft’s other Office 365 offerings like Teams, Outlook, Excel & Word. The Microsoft Dynamics 365 ecosystem has offerings ranging from lead and opportunity management, marketing, field service, IOT, customer service, mixed reality and project service automation all allowing for a more frictionless engagement with your customers. Microsoft Dynamics CRM is available for software-as-a-service (SaaS) deployment as well as on-premises complete with a nice user interface for mobile and desktop as well as a technology stack that ensure database security. Dynamics 365 also offers strong API capabilities to help integrate to your other critical systems.
Axon: Best for midsize operations
Price: Quote only.
Pros
- Real-time integrated reporting eliminates bookkeeping overhead.
- Dispatch software minimizes empty loads.
- Automatic IFTA tax calculations.
Cons
- Price transparency is low: quotes only.
- Remote access not available.
Why we like it
Axon does what a great accounting software should do — it eases administrative overhead. The software’s integrated reporting eliminates the need for duplicating data entry across multiple views. Simply enter data in one area and it’s instantly updated across all relevant areas. The full-service software includes payroll, fleet management, trucking dispatch and IFTA tax calculator, among other things.
Axon is not cloud-based; instead, it is installed locally on a desktop computer and can be accessed only from that device. That works well for a bigger operation, but is not ideal for independent drivers who need access on the road.
Additional options for trucking accounting software
- TruckBytes: Free accounting software for truckers.
- TruckingOffice: Good for IFTA tax filing.
- RAMA Logistics Software: Good for QuickBooks integration.
Tailwind TMS
Tailwind TMS has all the features needed by Freight Brokers at a reasonable price that is given upfront. While Q7 would also work well for Freight Brokers, it’s more expensive and packed with features that Freight Brokers don’t need.
- Dispatch and track shipments
- GPS confirmed event tracking
- A/R and A/P management
- Customer & Carrier Self-Service Portals
- Not a complete bookkeeping system
- No integrated payroll
- No bank reconciliation feature
Pricing
- Pro: $117 per user per month
- Enterprise: $176 per user per month
- Unlimited: $235 per user per month
Most freight brokers will be well served by choosing the Pro plan. The Pro and Enterprise plans have a free trial available with no credit card required.
Our Expert Opinion
Tailwind TMS offers a huge array of tools to help your freight brokerage company. While you can send invoices and pay bills, it’s not a complete bookkeeping system. Most importantly, there is not a bank reconciliation feature to ensure that your bank account balances are accurate. To fill this gap, Tailwind TMS will sync with QuickBooks Online Plus, which we highly recommend. QuickBooks Online Plus is $80 per month, so be sure to include this cost if you’re choosing between Tailwind TMS and Q7.
You might consider upgrading to the Enterprise plan to be able to offer customer and carrier self-service portals. Customers can log in to view their account information, shipments, and invoices. Carriers can access available loads, shipments you have dispatched with them, and amounts you owe them.
TruckingOffice
TruckingOffice is full-featured trucking and accounting software, but we especially like it’s IFTA tracking given its low price. If your main concern is IFTA tracking, or you’re a small company looking for basic tools for trucking companies, then TruckingOffice might be a good choice.
- IFTA tracking and reporting
- Low price
- LTL (less than load) planning and billing
- Issue invoices and track expenses
- ELD (electronic logging device) for an additional fee
- No payroll for employees
- Not a complete bookkeeping system
- Invoices cannot be paid electronically
- No live phone or chat support
Pricing
- Basic
- Owner/Operator: $20 per month for 1-2 trucks
- Mid Size: $45 per month for 3-7 trucks
- Fleet: $75 per month for unlimited trucks
- Broker: $45 per month for unlimited dispatches
- Pro (includes LTL planning and billing)
- Owner/Operator: $30 per month for 1-2 trucks
- Mid Size: $65 per month for 3-7 trucks
- Fleet: $110 per month for unlimited trucks
You can immediately start a free 30-day trial with no credit card required.
Our Expert Opinion
While we included TruckingOffice in our list as an affordable way to comply with IFTA regulations, it actually offers much more at a very reasonable price. However, you’ll likely find that the features aren’t as robust or refined as more expensive software like Q7. Also, like Tailwind TMS, TruckingOffice isn’t a complete bookkeeping system. Unfortunately, while there is some ability to sync transactions between TruckingOffice and QuickBooks Online, there is not a complete two-way integration available as a QuickBooks Online app.
The Basic plan includes IFTA tracking and most other features you’ll need. However, you might consider upgrading to the Pro plan if you want load planning, LTL dispatch, or driver settlement management. Before spending money on a more expensive plan, perhaps give TruckingOffice a try with its free trial.
Rigbooks
Price: Rigbooks starts at $19 per month for one truck. The Basic Entry plan includes expense tracking as well as fuel mileage, expense, and profit and loss reporting. The Small Fleet plan ($149 per month) includes up to five trucks. You can add more trucks to each plan for an additional charge.
Pros
- Free trial for 30 days and satisfaction guarantee.
- Customized billing to invoice by mile, item and weight.
- Ability to log expenses from your smartphone or tablet.
- IFTA tracking and calculation included with basic package.
Cons
- No training resources or manuals.
Why we like it
Rigbooks is an affordable accounting software designed to help truckers understand the true cost of each run so they can choose the most profitable load each time. Users can get a quick view of cost and profit per mile, and can bill by mile, item, load, weight or as a lump sum. The software is cloud based, so you can access it via a laptop, smartphone or tablet.
Rigbooks does not provide training resources or a site manual but users can ask questions via phone or email. Phone support is available Monday through Friday from 9 a.m. to 5 p.m. PT.
Conclusion:
Running a trucking business is frustrating and challenging. There are so many things to keep track of with good trucks, permits, insurance and the list goes on. Add in that you need to log all your expenses for taxes, prepare reports for clients and more, it looks like a daunting task. But why waste money on software that might not work for your business when there are other ways to work smarter? By using the right accounting software in your trucking company you can save money, stay organized and make better use of your time.