Running a trucking company involves more than just managing freight—there are fuel expenses, driver payments, maintenance costs, and, of course, taxes to worry about. Keeping track of all these moving parts can be overwhelming without the right accounting software. As someone who has seen trucking companies thrive with the right financial tools, I know how much time and stress can be saved with proper accounting software designed for trucking businesses.
Here’s a breakdown of the best accounting software for trucking companies, starting with FreshBooks, which is user-friendly and offers robust accounting tools suited to smaller fleets or owner-operators.
Top Accounting Software for Trucking Companies
1. FreshBooks
FreshBooks is an excellent option for smaller trucking companies or owner-operators who need easy-to-use accounting software with strong invoicing and expense-tracking capabilities. It’s intuitive and provides essential features for tracking expenses like fuel, repairs, and maintenance.
Features:
- Expense tracking, including fuel, repairs, and tolls
- Automated invoicing for freight charges or load payments
- Mileage and time tracking for driver payments and expenses
- Profit and loss reports for each truck or route
- Receipt scanning for on-the-go expense management
Why it works: FreshBooks is perfect for small trucking businesses that need to stay organized without complicated tools. Its invoicing system is particularly useful for billing clients and brokers, and its expense tracking helps categorize fuel, maintenance, and other operating costs. FreshBooks also provides clear profit and loss reporting, making it easier to see how each truck or route performs. The mobile app is handy for truckers on the road who need to track receipts and expenses in real time.
2. QuickBooks Online
QuickBooks Online is a robust solution for trucking companies with larger fleets or more complex financial needs. It offers advanced features like payroll integration, expense tracking, and invoicing, making it suitable for mid-sized to larger trucking operations.
Features:
- Automatic tracking of expenses like fuel, repairs, insurance, and maintenance
- Customizable invoicing for freight charges and load payments
- Payroll management for drivers, including 1099 contractor payments
- Mileage tracking and expense categorization for each truck or route
- Advanced financial reports (profit/loss, balance sheets, cash flow)
Why it works: QuickBooks Online offers flexibility and power, making it a great choice for trucking companies managing multiple drivers and trucks. The software’s ability to categorize expenses by truck or route helps you see where your money is going, while the payroll feature simplifies paying both full-time drivers and 1099 contractors. The integration with bank accounts and fuel cards makes expense tracking seamless, and the advanced reporting features are essential for understanding your company’s financial health.
3. Truckn Pro
Truckn Pro is a dedicated accounting software specifically designed for trucking businesses, making it a fantastic option for both owner-operators and fleet managers. It provides trucking-specific features like fuel tax reporting and maintenance tracking that general accounting software might not offer.
Features:
- IFTA (International Fuel Tax Agreement) reporting and fuel tax tracking
- Load tracking, including rate confirmations and delivery details
- Maintenance scheduling and tracking for trucks and trailers
- Driver pay tracking based on miles or percentage
- Profit and loss reports for each load or route
Why it works: Truckn Pro is built with trucking companies in mind, which makes it particularly powerful for managing the unique needs of the industry. I love how it handles IFTA fuel tax reporting automatically, saving you time and reducing errors. It also allows you to track loads, payments, and driver mileage in detail, which is critical for optimizing profitability. For trucking-specific features, Truckn Pro is hard to beat, especially if you want a system designed around your day-to-day operations.
4. Axon Software
Axon is a more advanced trucking management software that integrates accounting with dispatching, maintenance, and payroll. It’s designed for trucking companies that want an all-in-one solution for managing operations and finances in one place.
Features:
- Real-time integration of accounting with dispatch and driver logs
- Automatic invoicing and payment tracking for loads
- Driver pay calculation, including miles, hours, or percentages
- Fuel and maintenance cost tracking for trucks and trailers
- IFTA fuel tax reporting and tracking
Why it works: Axon is a comprehensive tool for trucking companies that need more than just accounting—it integrates dispatching and maintenance with financial management. This means you can track a load from dispatch to delivery and automatically generate invoices, track expenses, and pay drivers all in one system. I’ve found Axon to be especially useful for trucking companies managing larger fleets or looking to optimize operations across departments. The real-time financial insights are invaluable for larger trucking operations.
5. Rigbooks
Rigbooks is designed specifically for owner-operators and small trucking companies, offering simple, trucking-focused accounting tools. It’s great for those who want to focus on essential features like expense tracking, mileage reporting, and load management without overwhelming complexity.
Features:
- Load and revenue tracking for each trip
- Expense tracking (fuel, tolls, repairs, etc.)
- IFTA fuel tax reporting
- Driver pay tracking for owner-operators and small fleets
- Profit and loss reports for each truck or route
Why it works: Rigbooks is an easy-to-use accounting solution that helps truckers stay on top of their finances without needing a degree in accounting. I love its focus on trucking-specific tasks like load tracking and fuel tax reporting, which makes it ideal for owner-operators and small companies. Its simple interface makes it easy to categorize expenses, track income, and see how profitable each trip or load is. Rigbooks is great if you want trucking-specific software without unnecessary extras.
Features to Look for in Accounting Software for Trucking Companies
Choosing the right accounting software for your trucking business depends on your fleet size and specific needs. Here are the key features to look for:
- Expense Tracking: You need software that can track all trucking-related expenses, including fuel, maintenance, tolls, insurance, and driver payments.
- Mileage Tracking: Ensure your software can track miles driven by each truck, as this is important for calculating fuel costs, driver pay, and tax reporting.
- IFTA Reporting: For trucking companies that operate across state lines, accurate IFTA fuel tax reporting is critical to stay compliant with regulations.
- Invoicing: Look for tools that allow easy invoicing for freight charges, so you can get paid promptly by brokers or clients.
- Driver Payroll: Software that can handle payroll, including calculating driver pay based on miles or percentages, is crucial for larger fleets.
- Load Tracking: Some software offers load management, which helps track deliveries, rate confirmations, and payments, making it easier to manage multiple trips.
- Financial Reporting: The ability to generate profit and loss statements, balance sheets, and cash flow reports is essential for understanding your trucking business’s financial health.
Common Mistakes Trucking Companies Should Avoid
Many trucking companies run into the same financial challenges. Here’s how to avoid them:
- Not Tracking All Expenses: Forgetting to log small expenses like parking fees, tolls, or maintenance costs can add up. Use software that automates expense tracking to ensure nothing is missed.
- Missing Fuel Tax Deadlines: Failing to report IFTA taxes accurately or on time can result in fines. Choose software that tracks and prepares IFTA reports for you.
- Manual Invoicing Delays: Delayed invoicing can slow down cash flow. Automate invoicing with software that generates and sends invoices automatically after deliveries.
- Inconsistent Driver Pay Tracking: If you’re managing a fleet, make sure to have a system in place for tracking driver miles and payments, especially if you use multiple pay structures.
- Not Using Financial Reports: Regularly reviewing your profit and loss reports, cash flow, and expenses helps you identify problem areas and improve your business’s profitability.
Final Thoughts
Choosing the best accounting software for your trucking company depends on the size of your fleet and the specific features you need. FreshBooks is a great choice for smaller trucking companies or owner-operators looking for ease of use and basic accounting functions. For those needing more trucking-specific features like IFTA reporting and load tracking, Truckn Pro and Rigbooks offer excellent options.
For larger operations, QuickBooks Online and Axon Software provide advanced features that integrate payroll, dispatch, and accounting into one platform, streamlining your operations and finances. No matter the size of your company, investing in the right software will help you stay organized, ensure timely payments, and keep your trucking business profitable.