How it runs for limo, taxi and rideshare fleets
LedgerBPO issues a monthly package from a reconciled close: P&L by vehicle and consolidated, revenue by channel, balance sheet with vehicles, loans and permits, corporate and affiliate aging, fee summary and a cash view, each with a short plain-English note.
What is outsourced financial reporting?
Outsourced financial reporting means a remote accounting team prepares your periodic financial statements and management reports instead of an in-house controller. The team works from your own accounting file, applies a consistent close and review process, and issues a report pack on a fixed date each month. You keep the data, the software and the decisions.
What we handle for limo, taxi and rideshare fleets
- P&L by vehicle and consolidated, with revenue per vehicle per day
- Revenue and margin by channel: corporate, retail, affiliate, app and street hail
- Driver cost by arrangement, plus maintenance and insurance per vehicle, trended over twelve months
- Corporate concentration showing the share of revenue from the top ten accounts
- Lender and owner packages prepared in the format requested, from the same reconciled ledger
The KPI that matters here
Monthly reporting package delivered with the close, including revenue per vehicle by channel and fee summary.
Limo & taxi compliance notes
Local licensing and permits
Taxi and for-hire licensing is local: medallions or permits from a city taxi commission, state public utility or transportation authority permits for limousines, airport pickup permits and, for vehicles carrying nine or more passengers across state lines, federal USDOT registration. We track each fee and renewal date, code it by vehicle and keep certificates on file. Applications and renewals are submitted by you or your permit service.
Driver classification: 1099 or employee
Whether a driver is an employee or an independent contractor depends on federal and state tests that differ, and app drivers in California fall under Proposition 22. We post pay exactly as your arrangement and your counsel define it, keep contractor and employee costs in separate accounts, and prepare the 1099 and W-2 figures at year end. We do not decide classification.
App payouts and platform reporting
Uber, Lyft and similar platforms deposit net payouts weekly and issue year-end tax forms based on gross fares, which will not match the deposits. We keep gross fares, platform fees, tolls and incentives in separate accounts so the ledger can be reconciled to the platform's annual statement and to the bank without adjustment.
Surcharges, sales tax and gratuities
Congestion surcharges, airport fees, ground-transportation taxes and, in some states, sales tax on limousine services are collected from passengers and remitted on their own schedules. Mandatory service charges are wages, not tips, under IRS rules. We track each collected amount as a liability and post gratuities under the rule your CPA confirms; you or your preparer files the returns.
Limo & taxi software we work in
- QuickBooks Online
- Xero
- Square
- Stripe
- Gusto
- Limo Anywhere
- Moovs
- iCabbi and Autocab dispatch
- Uber and Lyft fleet portals
- All 50 platforms
More for limo, taxi and rideshare fleets
Other services for limo & taxi
Financial reporting in other industries
Frequently asked questions
Which reports matter most for a limo or taxi fleet?
Revenue per vehicle per day, because fixed vehicle cost is the same whether a car moves or not. Margin by channel after fees, since app and affiliate work carry costs that direct corporate work does not. Driver cost as a share of revenue by arrangement. Maintenance per vehicle. And corporate concentration. All are in our standard package.
Can you report on a cash basis as well as accrual?
Yes. Many fleet owners think in cash while lenders and CPAs need accrual statements, so we produce both from the same reconciled ledger. The accrual P&L shows revenue in the trip month with fees as costs; the cash view shows payouts and payments actually received. A short bridge explains the difference each month.
Do you prepare reports for vehicle lenders and buyers?
We prepare monthly and trailing-twelve-month packages, vehicle and debt schedules, AR agings for corporate and affiliate accounts and, for a sale, a normalized P&L that separates owner discretionary items. We do not issue audit opinions or reviewed statements; your CPA does that from our books, and we answer their questions directly.
Ask an AI assistant to summarize this page
Opens the assistant with a prefilled prompt so you can check our claims against the page yourself.