Accounting Software Question

If nobody chimes in here, Google might be your friend. Looks like quite a few options to explore there.

 

Use Quickbooks. You will only wonder what took you so long, and if you are grossing over $X dollars (I don't remember the amount) then I'm pretty sure you are required to use accounting software for audit purposes (if you were ever audited). Eventually, your accountant will refuse to do your books because they could be liable.

 

There are a couple on the market, but Trucknpro (www.foglinesoftware.com) recently came out with a new program for those who have multiple drivers or owner operators. They have been designing software for the trucking industry for a number of years. I have used most of the different versions they have sold. I recently got the newest one called Trucknpro Business Manager. It is ideal for those who have owner operators or drivers. It will track IFTA by truck number, which is good if the owner operator pays his own IFTA. It will automatically do the calculations for settlements for company drivers or owner operators by percentage or mileage. You can then print out a settlement sheet for each load, if you wish. You can also separate the fsc and show any special deductions or payments, such as a performance bond, advances, etc., I got the latest version not long ago, but it wasn't compatible with my old version due to a number of improvements in the new program. I plan on starting out the new year with using the new version (Trucknpro Business Manager). There are no limitations on the number of drivers or owner operators you can add. It also keeps track of CDL and medical renewals and has a driver qualifications file. The last couple of programs they published have the ability to scan in all documents for loads and drivers making it easier to go paperless, if you choose. You can customize the program to some extent. It will also allow you to print statements and tracks when invoices are paid. I could have started using the new program when I first got it, but wanted to keep the entire year in one program.

The program will do all IFTA with gallons and miles traveled by state. It won't do the actual tax calculations, but most states have gone to electronic filings and will do the calculations for you anyway. So, there is really no need for the program to do those for you. The program will tell each owner operator how well they are doing since it will print out the cost and profit by mile and do it by the load, truck or time period. You can also do it for the entire fleet. Trucknpro usually offers a trial period where you can try the software for a couple of weeks (I think). You can download it and if you decide to buy it during the trial they send you a code to activate it. They also have a training video you can download. I went through the video and found it to be helpful. I was familiar with most of the program since I have used previous versions for a number of years. The current version I have been using is called Trucknpro Elite. They do have several different versions based upon your needs. Even a company driver or owner operator can find a version that will work for them. I didn't mean for this to sound like a sales pitch for Trucnknpro. I have used a couple of other software programs for trucking. I have used Easy Trucking and Truckers Helper. Those are the only other two that I am familiar and have used. I didn't care for some of the features of Easy Trucking. It had a few things that didn't work well for my business. I did like Truckers Helper, but it is more complicated to use and is more expensive to purchase. They also made some changes after the company was sold out.

I have used a spreadsheet and it worked fairly well for me at the time. I mostly used the spreadsheet to track payroll, but did use it for my accounting, quite a few years ago. I may still use a spreadsheet to do some projections or play with numbers.

I have known of some who purchased Quick Books Pro. It is basically a generic accounting program. I think it worked well for them, but I prefer something specific to my needs. I have several friends who have used Trucknpro for several years. I don't recall any of them mentioning any specific issues with the program. When the year ends, I can print out a profit and loss statement and be ready to file my taxes. Once I close out this year I will start using the Business Manager Program. The program will work for U.S. and Canadian owners and drivers.

 

When I was running a retail business a couple of years ago I came across this accounting software and ended up using it instead of QuickBooks. I had QuickBooks but for all my needs it started costing way to much for all the extra modules.

The software is called frontaccounting and it's free. You can find it at http://frontaccounting.com/wb3/

Best part is you could set it up to have different users have access to just there info and they could access it from anywhere online.

 

I know what you mean about having to purchase different modules to get what you need redoctober87. I once purchased software that cost me about $5,000 with all the different modules. It was so complex that noone wanted to use it.

Free software can be nice, but this industry is a little more complex. We are one of the most regulated industries in the country. Software that can help with compliance is well worth the investment. I have used other types of software and they can all do basically the same thing as far as tracking revenue and expenses. I prefer the trucking specific software mainly because of the way it tracks our specific expenses and helps with compliance, such as driver qualifications, maintenance and IFTA. At one time I did use a spreadsheet for my IFTA and payroll. It worked alright, but required a lot more of my time. I considered using a general accounting software program. In fact, I check out several of them. If I had a different type of business, I would consider something like Quick Books Pro or perhaps something else. But, for trucking I prefer having a program that will keep track of all my fuel, miles, maintenance, drivers, etc., With the Trucknpro program, if you put the information in after each load or weekly, it will give you an immediate picture of your business. At the end of the quarter, all I need to do is print out a IFTA report and then input the information from the report directly into the state IFTA website. It is much easier than to try to track it with a spreadsheet. I don't recall anything in the general accounting programs that would give me the IFTA information I need. I also don't recall anything in the general accounting programs that will track maintenance or driver qualifications. If you are an owner operator who is leased to a carrier and doesn't need to track your maintenance or fuel taxes, you could probably use a general accounting program. Personally, I would still prefer having something specific to trucking. But, we all need to find what works best for us. That is why there are so many accounting software programs. I plan on sticking with Trucknpro as long as I stay in trucking. If I ever get out of this business and start something else, I might look at something else to use. I don't think the Trucknpro would work as well for something that doesn't involve trucking.

 

I agree completely about having a program that is truck industry specific. I'm not to that point yet but hope I'll be there in a couple years. Right now I'm a company driver and trying to learn all I can before I buy my own truck. But as the op was looking for an alternative to QuickBooks and I had been in the same boat before. I'll keep your recommendation in mind for sure when I start my own trucking business. Thank you so much.

 

You are welcome, redoctober. Since you are new to the industry, I will suggest you keep track of your expenses on the road or take the daily per diem deduction while on the road. Truck drivers are allowed a daily per diem without having to keep track of expenses. I don't know if it will change this next year, but it was $59/day last year and could change based upon where you were running. It is usually easier for most to just take the daily deduction. I have used a debit or credit card to make all purchases while on the road. It keeps me from having to keep a lot of cash with me, provides documentation for the expense and time on the road. You also need to keep your log books as further documentation that you were on the road in order to take the per diem deduction. You could use a spread sheet to keep track. I don't remember if Trucknpro has a version for company drivers, but you could check their website if it is of interest. If they did offer a company driver program the cost would probably not be very much. I think Truckers Helper also used to have a small program for company drivers. Most people are surprised at how much they actually spend while on the road. Even uniforms and things you buy for the truck, such as an electric cooler, converter, etc., are legitimate business expenses. It can be difficult to not lose receipts. You could buy a portable file folder or just input the expenses into your computer to keep track. You don't always need to spend a lot of money to get what you need.

 

I run flatbedders and take care of all of their required paperwork on Quick Books. It allows me to set up all the O/O's as different small business units and depending on how complex I set it up to be, I can drill down and tell you what that .02 was spent on and why. I have tried other "trucking software" but have found it not to be as flexible as I need it to be. (Each to their own.)