One of the most important parts of running and growing a trucking business is careful financial management. To get this right, you need to use the right accounting software.
The trouble is that trucking companies have many unique accounting needs. This means regular business accounting solutions won’t always cut it. Instead, you must use specific trucking accounting software to help you stay compliant and manage all of the essential financial elements of running a trucking operation.
In this guide, we’ll cover everything you need to know about finding the right trucking software.
Trucking Accounting Software vs. General Accounting Software
Of course, the main difference between trucking accounting software and general accounting software is in their focus.
General accounting software, like QuickBooks, is designed for any business. It handles all the core accounting and bookkeeping tasks, like invoicing, payroll, profit and loss reports, and financial reporting. However, general platforms like this lack trucking company-specific features, such as International Fuel Tax Agreement (IFTA) reporting or cost-per-mile tracking.
These gaps often require trucking companies to rely on extra tools for those specific business accounting functions.
In contrast, trucking accounting software is built specifically for the trucking industry. It includes a range of features designed to manage trucking-specific needs, such as load tracking, fuel expense monitoring through fuel receipts, monitoring the latest fuel tax rates, and automated IFTA compliance.
In many cases, trucking office software streamlines operations by integrating bookkeeping software with fleet management, dispatching, and equipment tracking. This makes it a one-stop solution for trucking businesses, saving time and improving accuracy.
While general accounting software can be cheaper and easier to set up, trucking accounting software is a better investment if you want an all-in-one platform to handle financial and operational tasks.
Why You Need Accounting Software for Your Trucking Business
Finding the best trucking accounting software for your business can save time, reduce stress, and improve accuracy.
Beyond the general reasons to use good accounting software, like generating expense reports and managing your financial statements, here’s why it’s essential for truckers.
1. Streamline Billing and Invoicing
Trucking businesses often deal with multiple clients, loads, and payment terms.
Accounting software helps you create and send invoices quickly. Invoices can be automatically generated. Plus, the software automatically tracks unpaid bills, reducing the risk of errors or missed payments.
With organized billing, you can focus more on running your business instead of chasing payments.
2. Meet IFTA Compliance
Tracking fuel use across state lines for IFTA reporting can be a headache.
Accounting software designed for trucking automates this process. It calculates and prepares your IFTA reports by pulling data from your trips and fuel purchases. This saves loads of time, especially as an owner-operator, and ensures compliance, helping you avoid penalties.
3. Accurate Driver Pay
Paying company drivers fairly and on time is crucial for your business.
Trucking accounting software can calculate driver wages based on mileage, hours worked, or percentage of load revenue.
This eliminates guesswork and ensures drivers are paid accurately. It also helps you track payroll costs for better financial management.
How to Choose the Right Trucking Accounting Software (Key Features)
Choosing the right trucking accounting software is key to keeping your business efficient and your finances in order. To help you find the right solution, here are the most important features to look for.
1. Cost vs. Value
Don’t just go for the cheapest option – focus on value.
Look for software that fits your budget while providing all the tools you need. A slightly more expensive program might save you time and money in the long run by streamlining tasks like IFTA reporting, billing, and expense tracking.
Think about how much time and effort the software will save you, allowing you to focus on growing your business.
2. Key Features and Integrations
Make sure the software offers trucking-specific features like cost-per-mile tracking, IFTA compliance, and load management.
It should also integrate seamlessly with your existing systems, like ELDs, fuel cards, or dispatching tools. A lack of integration can create gaps in your data, causing inefficiencies or errors.
3. User-Friendliness
Good software should be easy to learn and use.
Look for a system your team can adapt to quickly, even if they’re not tech-savvy. The sooner everyone is comfortable using the software, the faster you’ll see the benefits.
4. Scalability
Choose software that can grow with your business. If you only have a few trucks now but plan to expand, pick a program that can handle larger fleets and more complex operations in the future.
This prevents the hassle of switching systems later on.
Top 5 Accounting Software Solutions for Trucking Companies
While there are many different options out there, here are our top picks for accounting solutions designed specifically for trucking businesses.
Rigbooks
Rigbooks is an accounting software solution built specifically for trucking operations. It starts at just $19 per month, offering affordable, trucking-specific tools like cost-per-mile tracking and IFTA reporting.
Designed to simplify bookkeeping, Rigbooks helps you track expenses, profits, and fuel usage in real-time, even while on the road.
It’s user-friendly and accessible on any device. Unlike general accounting software, Rigbooks calculates trucking costs accurately, letting you make smart decisions about loads and expenses.
Axon
Axon is a fully integrated accounting and management software for midsize and larger trucking operations.
Its standout feature is real-time integration, which syncs accounting, dispatch, and fleet management to eliminate repetitive data entry. Axon automates IFTA tax calculations and includes tools for payroll, dispatching, and fleet management.
While its comprehensive features and regular updates make it a powerful solution, it does require a bit of a learning curve for some users. Overall though, it’s ideal for trucking companies seeking efficiency and real-time insights.
TruckingOffice
TruckingOffice is a top choice for owner-operators and fleet builders who want an easy way to manage their trucking business.
Starting with a free trial, this software combines trucking management tools with an integrated ELD system for seamless operations. It handles dispatching, invoicing, expense tracking, and IFTA reporting all in one place.
Users love its ability to sync data automatically, reducing paperwork and saving time. It’s accessible from any device, ensuring you can manage your business from the road. It’s a smart choice for trucking professionals of all sizes.
Truck Logics
TruckLogics is a versatile trucking management software designed to simplify fleet operations. It allows users to manage dispatches, expenses, trip sheets, and maintenance in one convenient place.
The platform includes features like load tracking, payroll management, and driver portals, making it ideal for both owner-operators and larger fleets.
Users appreciate its affordability, and the ability to integrate brokers, carriers, and owner-operators into a single system.
The overall functionality and ease of use make TruckLogics a valuable tool for organizing trucking businesses and staying efficient in a competitive industry.
ProTransport
ProTransport is a powerful trucking software solution that fits fleets of all sizes. With its three tiers, it caters to small operators and large fleets alike.
Features include IFTA filing, driver pay statements, dispatch tools, and maintenance tracking. Integration with QuickBooks, fuel cards, and ELDs makes things easy to manage.
Its centralized platform simplifies operations, while the mobile app improves communication with drivers by supporting messaging, trip planning, and document uploads.
ProTransport also offers affordable subscription pricing which makes it a cost-effective choice. With excellent customer support and extensive features, it’s a smart solution for optimizing trucking operations and cutting costs.
Cost of Trucking Accounting Software
The cost of trucking accounting software can vary widely depending on your business size and needs.
For owner-operators or small fleets, basic trucking accounting software typically costs between $5 and $25 per month. This is great for smaller businesses with straightforward needs like basic invoicing, expense tracking, and IFTA reporting.
For larger fleets, the price goes up. Trucking management software designed for bigger operations usually costs $100 to $500+ per month.
The price often depends on the number of trucks or users. Some providers offer customized pricing for large businesses based on their specific requirements, which could include advanced features like fleet tracking and detailed payroll management.
Keep in mind that some businesses may need to combine multiple systems to get all the features they need. For example, you might use one tool for trucking-specific tasks like load tracking and another for payroll.
While this offers flexibility, it can increase the overall cost. Carefully consider pricing and functionality to ensure you’re getting good value for your investment.
Final Thoughts
Ultimately, the best accounting software solution comes down to your trucking company and its unique needs. Compare different options, trial different software where possible, and look for a solution that offers the exact set of features and integrations to make sunning your business an easier process.
If you’re starting or operating a trucking business, then getting the right commercial vehicle financing is also essential. At Mission Financial Services, we offer easy financing solutions for everyone, no matter what your credit score looks like or what type of truck you’re after. Get started today.
