How it runs for trucking and logistics companies
Every bank, card, loan and factoring account is reconciled monthly in QuickBooks Online or Xero, and the close passes a second accountant before you see a per-truck P&L.
What is outsourced bookkeeping?
Outsourced bookkeeping means a remote accounting team records, categorizes and reconciles your business transactions instead of an employee doing it in-house. You keep ownership of the accounting file and the bank relationship. The provider works inside your software on a fixed schedule, so the books are ready for reporting, tax and lending whenever you need them.
What we handle for trucking and logistics companies
- Delivered loads posted from TMS exports by truck, driver, customer and lane
- Fuel-card, toll, tire, repair and permit costs coded by unit number
- Factoring advances, reserve releases and fees reconciled from the portal report
- Tractors and trailers capitalized, depreciated monthly and loan interest split from principal
- Weekly open-items list covering missing PODs, unposted settlements and unmatched fuel lines
The KPI that matters here
Zero uncategorized transactions older than seven days and every truck showing revenue and cost per mile at close.
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
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Frequently asked questions
Why should freight revenue be posted from the TMS rather than the bank?
Because the factor's advance is not the invoice amount, the reserve arrives weeks later and broker short pays change the total again. Posting delivered loads from the TMS records revenue once, in the delivery month, at the rate-confirmation amount. Factoring fees and deductions are then recorded as what they are, and the AR agrees to the TMS and the factor's aging.
How do you get cost per mile by truck?
Each tractor is a class or tracking category in your accounting software. Fuel-card lines carry the unit number, repair and tire invoices are coded by unit, and fixed costs such as insurance, plates and depreciation are assigned per truck. Miles come from the ELD or TMS export. Dividing each unit's cost by its miles gives a comparable figure every month.
Do you keep the books for the brokerage side as well?
Yes. Brokered loads are posted with gross revenue and purchased transportation to the carrier, so margin per brokered load is visible and asset-based and brokered revenue are not mixed. Carrier payables are tracked separately from vendor bills, and quick-pay fees charged to carriers are recorded as income. Your bond and authority costs are coded to the brokerage.
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