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Bookkeeping for trucking and logistics companies: how LedgerBPO runs it
LedgerBPO provides bookkeeping for trucking & logistics companies: a named, dedicated accountant who posts loads from your TMS, factoring reports, fuel-card statements and driver settlements into QuickBooks Online or Xero, tracks revenue and cost per mile by truck, prepares IFTA fuel-tax workpapers and closes the books every month under a second-accountant review. You keep your software, your bank and your dispatch.
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What we handle
LedgerBPO provides bookkeeping for trucking & logistics companies: a named, dedicated accountant who posts loads from your TMS, factoring reports, fuel-card statements and driver settlements into QuickBooks Online or Xero, tracks revenue and cost per mile by truck, prepares IFTA fuel-tax workpapers and closes the books every month under a second-accountant review. You keep your software, your bank and your dispatch.
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Billing and books together
Per-truck P&L built from TMS loads, fuel cards and settlements every month
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Reconciled every month
Factoring advances, reserves and fees reconciled so revenue is never counted twice
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What you see
IFTA, HVUT and driver settlement workpapers ready on the calendar
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A named accountant, a backup and a team lead
Inside your own software, on a fixed close calendar, with a reply from a person within 1 business day. Call +1-657-777-0006 or start a quote.
Get a custom quote 06 / 06
· Reviewed by Nimra Khalid
Trucking accounting challenges
- 01
Margins are measured in cents per mile
The average marginal cost of operating a truck reached $2.27 per mile in 2023, with fuel, driver wages and benefits, and equipment payments as the largest lines (ATRI, 2024 update). A carrier that does not know its own cost per mile by truck is quoting loads blind.
- 02
Factoring hides the real revenue
Most small carriers factor invoices, receiving an advance, then a reserve rebate weeks later, less a fee that commonly runs one to five percent of the invoice. If the advance is booked as revenue and the rebate as more revenue, the P&L overstates sales and understates finance cost.
- 03
Brokers pay slowly and short
Broker and shipper terms typically run 30 to 45 days, and remittances arrive with deductions for late delivery, missing paperwork or disputed accessorials. Every short pay needs to be matched to a load and either rebilled or written off, or the aging becomes fiction.
- 04
Fuel tax follows the miles, not the pump
IFTA requires a quarterly return that apportions fuel tax across every jurisdiction by miles driven, due the last day of the month after each quarter. Miles from the ELD and gallons from the fuel card have to agree with the ledger, or the return and the books diverge.
- 05
Driver pay runs on its own clock
Owner-operators under lease must be settled within 15 days of submitting delivery documents under the federal Truth in Leasing rules (49 CFR 376.12), while company drivers are paid per mile, per load or hourly with per diem on top. Settlements with fuel, insurance and escrow deductions are a ledger in themselves.
What we handle for trucking and logistics companies
Loads posted from your TMS
Your accountant pulls delivered-load exports from McLeod, Trimble, Tailwind, Truckstop or your TMS and posts revenue by truck, driver and customer. Accessorials, detention and lumper fees are recorded as billed, not lost in the freight line.
Factoring reconciled properly
Advances, reserve releases, fees and chargebacks from RTS, OTR Solutions, TAFS or your factor are reconciled from the factoring portal report under our ReconBot workflow. Revenue is recorded once, finance cost is shown separately.
Fuel, tolls and repairs by truck
WEX, EFS, Comdata or fleet-card statements are posted by unit number, along with tolls, tires, repairs and permits, so each tractor carries its own cost. Fuel gallons by state are kept for IFTA.
Driver settlements and payroll
Owner-operator settlements are prepared from delivered loads with agreed deductions, and company-driver payroll is posted from Gusto or ADP by truck. Per diem, escrow and advances are tracked as liabilities or receivables, not expenses.
IFTA, HVUT and permit calendar
Quarterly IFTA workpapers, Form 2290 heavy vehicle use tax, UCR, IRP renewals and insurance down payments sit on the close calendar. We prepare the figures; you or your compliance service files.
Dispatch by TransportBPO, books by LedgerBPO
Our sibling brand TransportBPO handles dispatch, after-hours answering and driver support, while LedgerBPO handles the books, invoicing and collections under your brand. One company, two desks, the same rate confirmation feeding both.
Trucking software we work in
- QuickBooks Online
- Xero
- Gusto
- Bill.com
- TMS exports (McLeod, Trimble TMW, Tailwind, Truckstop)
- Motive and Samsara ELD reports
- Factoring portals (RTS, OTR Solutions, TAFS, Triumph)
- Fuel cards (WEX, EFS, Comdata)
- All 50 platforms
Trucking compliance notes
FMCSA and federal filings
Operating authority, USDOT registration, the Unified Carrier Registration fee, IRP apportioned plates and the annual Form 2290 heavy vehicle use tax (due August 31 for most fleets) each carry a cost and a date. We keep those dates on the close calendar, record the fees against the right units and keep insurance certificates and down payments tracked. Filing stays with you or your compliance service.
IFTA fuel tax
Each quarter, miles by jurisdiction from the ELD and gallons by jurisdiction from fuel-card statements are compiled into IFTA workpapers, with the net tax due or refund calculated per state. The ledger fuel account is reconciled to the same gallons so the return and the books agree. You or your permit service submits the return.
Factoring agreements
Recourse and non-recourse factoring agreements set the advance rate, the fee schedule and when chargebacks apply. We record advances as a liability or as AR sold depending on the agreement, show fees as finance cost and reconcile the reserve account monthly so you can see what the factor is holding. We do not negotiate the agreement.
Driver settlements and worker classification
Owner-operators under lease are paid on settlement statements with deductions the lease must list, and receive a 1099 at year end; company drivers are W-2 employees with per diem treated under IRS transportation-industry rules. We prepare settlements and payroll journals from the agreements you provide and flag classification questions for your counsel. We do not decide who is a contractor.
KPIs we report
| KPI | Why it matters |
|---|---|
| Revenue and cost per loaded mile by truck | This is the number that tells you which lanes and which units are worth running. |
| Days from delivery to invoice or factor submission | Every day a proof of delivery sits unbilled delays cash by that day plus the broker's terms. |
| Factoring fees as a share of factored revenue | The trend shows whether quick-pay or a bank line would be cheaper than the factor. |
| Broker short pays and deductions per month | Rising deductions point to paperwork or service problems that dispatch can fix. |
| Books closed within five business days of month-end | Fuel, settlement and factoring data all land on different days; a fixed close keeps them honest. |
Services for trucking and logistics companies
- Outsourced bookkeeping for trucking & logistics companies
- Invoicing & billing for trucking & logistics companies
- Accounts receivable management for trucking & logistics companies
- Accounts payable processing for trucking & logistics companies
- Bank & credit-card reconciliation for trucking & logistics companies
- Month-end close for trucking & logistics companies
- Monthly financial reporting for trucking & logistics companies
- Catch-up bookkeeping for trucking & logistics companies
- Payroll processing support for trucking & logistics companies
- Cash application & remittance posting for trucking & logistics companies
- Payment processor & marketplace reconciliation for trucking & logistics companies
- KPI dashboards for trucking & logistics companies
- Remote controller review for trucking & logistics companies
- Accounting software setup & migration for trucking & logistics companies
Frequently asked questions
Do you work with our TMS and factoring company?
Yes, through their standard exports and portal reports. We pull delivered-load data from McLeod, Trimble, Tailwind, Truckstop or whichever TMS you run, and the schedule of purchases, reserves and fees from your factor's portal. We do not dispatch loads or submit invoices to the factor unless that is agreed in scope.
How do you record factoring in the books?
The invoice is recorded as revenue once, when the load is delivered. The factor's advance reduces AR and creates either a due-from-factor balance or a liability, depending on whether the agreement is recourse or non-recourse. The reserve release clears that balance and the fee is posted as finance cost. Nothing is counted twice.
Can you prepare our IFTA return?
We prepare the workpapers: miles by jurisdiction from your ELD reports, gallons by jurisdiction from fuel-card statements and the resulting tax due or refund per state, reconciled to the ledger fuel account. You or your permit service reviews and submits the return. The same data feeds IRP renewals when they come around.
How do you handle owner-operator settlements?
Settlements are prepared from delivered loads at the agreed percentage or rate, with deductions for fuel advances, insurance, escrow, plates and any other items the lease lists. Each settlement is posted so revenue, purchased transportation and deductions land in the right accounts. You approve and release the payment; we never move money.
Does LedgerBPO also handle dispatch or driver calls?
No. Dispatch, after-hours answering and driver support are handled by our sibling brand TransportBPO, which shares ownership with LedgerBPO. The two desks work from the same rate confirmations and delivery documents, so a load dispatched by TransportBPO is invoiced and posted by LedgerBPO without re-keying. You can use either desk on its own.
What does the monthly package include for a carrier?
A P&L by truck and consolidated, a balance sheet with equipment, loans and factoring balances reconciled, revenue and cost per mile, a broker aging with short pays listed, a factoring cost summary and a note on what moved. The month-end close service page describes the CloseTrack checklist that produces it.
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