How it runs for trucking and logistics companies
Anything unmatched goes on an exception log with an owner and a date.
What is a bank reconciliation service?
A bank reconciliation service compares the transactions in your accounting software with the transactions on your bank and credit-card statements and explains every difference. The goal is a ledger balance that agrees with the statement after timing items such as outstanding checks and deposits in transit. Done monthly, it catches missing entries, duplicates, bank errors and fraud early.
What we handle for trucking and logistics companies
- Factor advances, reserve releases and chargebacks matched to portal reports and deposits
- Fuel-card settlements reconciled to statement lines by unit, including driver advances
- Direct broker and shipper payments matched to invoices and short pays recorded
- Tractor, trailer and insurance financing reconciled to lender statements monthly
- Exception log with an owner and a resolution date for every unmatched item
The KPI that matters here
No unreconciled bank, fuel-card or factoring item older than 30 days at any month-end.
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.
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
More for trucking and logistics companies
Other services for trucking
Bank reconciliation in other industries
Frequently asked questions
Why does the factor's deposit never match our invoices?
Because the deposit is the advance, usually 90 to 97 percent of the schedule, less fees, and the reserve on earlier invoices may arrive in the same deposit. We match each deposit to the factor's purchase and reserve reports line by line, record fees separately and post chargebacks against the original invoice. Once done, invoices, advances, reserves and fees each reconcile.
How do you reconcile fuel-card accounts?
The weekly settlement from WEX, EFS or Comdata is matched to the statement lines, which are posted by unit with gallons and state for IFTA. Driver cash advances and express checks on the same account are recorded as driver receivables or settlement deductions, not fuel. The card balance is reconciled to the statement at each cycle and at month-end.
Can you reconcile equipment loans and our line of credit?
Yes. Every tractor and trailer loan, lease and line of credit is reconciled to the lender statement monthly with principal and interest split correctly. Draws and paydowns are matched to bank activity so the balance sheet shows the true position, which matters when you refinance a unit or a lender asks for covenant figures.
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