LOGISTICS and TRUCKING
Accounting services for logistics or trucking companies are specialized to meet the unique financial needs of the transportation industry. These services typically include:
1. Bookkeeping & Financial Reporting
- Recording daily transactions
- Managing accounts payable and receivable
- Bank and credit card reconciliations
- Profit & loss statements and balance sheets
2. Tax Preparation & Compliance
- Quarterly and annual tax filings
- Fuel tax (IFTA) reporting
- State and federal tax compliance
- Sales tax and payroll tax calculations
3. Payroll Management
- Paying drivers and staff
- Managing W-2s & 1099s for employees and independent contractors
- Handling deductions, benefits, and overtime calculations
4. Cost Control & Expense Tracking
- Fuel cost analysis and management
- Maintenance and repair tracking
- Insurance and permit cost monitoring
5. Freight Billing & Invoicing
- Generating customer invoices
- Tracking outstanding payments
- Managing factoring company transactions
6. DOT & FMCSA Compliance
- Ensuring financial compliance with Department of Transportation (DOT)
- Managing permits, registrations, and fines
7. Cash Flow Management
- Budgeting and forecasting
- Managing working capital
- Helping with financing and loan applications
8. Software & Technology Integration
- Implementing trucking accounting software (e.g., QuickBooks, TruckingOffice, Axon)
- Integrating ELD (Electronic Logging Devices) data with financial records
Robert Sammon CPA, offers the expertise in financial accounting services specifically for Logistics, Freight and Trucking companies. We understand the unique structure of this type of business and can make many recommendations to improve your bottom line.