Did you know that the transportation industry is growing at a steady rate?
After all, right now the market size of the United States transport sector is at $1.1 trillion. It’s only expected to increase from there.
What this means is that the competition between trucking and other transportation companies becomes fiercer. A lot of them now use software that would give them an edge over their competitors.
If you want to stand out, you need the best trucking accounting software.
But what makes good trucking office software? Read on and find out more.
1. Recurring Invoices
Once you’re done with commercial truck financing, you need to streamline your invoices. You need software that helps you simplify the process.
You can do this by minimizing manual invoice generation. This is especially important if you plan on giving recurring invoices.
A good invoice software will let you enter the information once using a master invoice. This will allow you to copy and use it on an as-needed basis. You can use the software to generate batches of recurring invoices with the use of a group of the same invoice type.
If your trucking industry adds a fuel surcharge to your bills, you need an app that has this capability. You need one that you can customize pricing depending on the situation. Get one that will let you set the rates as you see fit.
You can set the surcharge rate depending on the business partner you’re working with. You also need the ability to set the kinds of charges when calculating the surcharge. You can set it in either a general or a specific manner.
2. Create Custom Invoicing
When you dispatch a load, you need invoice software that can help you generate the invoice. It should give you an option to send it to the clients. The invoice should look accurate and professional without complications.
The app should calculate the charges based on the load details.
You need to ensure that the invoicing software auto-fills the right set of information. It needs to have the features that help you add or edit details within the invoices you create. You can customize the rates and put memos for your clients to understand it better.
A good feature to have is the ability to download these invoices to your clients’ local computers. Your clients will thank you more if you put the option of printing the invoices. It’s also a nice addition if your application can send it by email.
Haul Pay, provided by ComFreight, actually creates an invoice for you automatically, simply by adding a few details about a load that was hauled and a copy of the signed bill of lading and rate confirmation. This removes the time you have to spend creating, tracking and even collecting invoices.
3. Invoice Alerts and Tracking
Your application should allow you to know when invoices are due. It should alert you if an invoice is already past due so you can follow-up with your client. It’s a great feature if you need to remember when to send your invoices no matter which client you’re dealing with.
You need to set the billing terms and the due date for the invoice. Once you’re set, your trucking office now has the ability to track your invoices based on the date of receipt. You can set the deadline to 15 days, 30 days, or other custom numbers of days for specific clients.
4. Quick Payment Receipt
When you receive payment from either client or carrier, your trucking business apps should have the ability to post it. It should allow you to record both full and partial payments as well as the methods they used. Good apps should give you the means of adding notations for special situations that may arise.
If you can’t do a full run when checking emails, you need the app to have a Quick Payment option. This is a great way to make checks at a short period of time. This helps you generate it alongside an invoice without any problems.
What are the Benefits of a Transport Management System?
As a trucking business, you benefit from a general transport management system in a lot of ways. You can stop the redundant data from appearing while giving you a more efficient use for your trucks. This improves your visibility since your dispatchers and drivers have better means of communicating.
With a full compendium of software, you can manage harder freight jobs and the like. This allows you to have a higher-paying business while streamlining your accounting. It also enables your business to simplify driver management to ensure maximum efficiency.
With a good transport management system, you can stay in touch with the new freight transportation trends. Remember, the rates for trucking services rise in a steady fashion as the years go by. If your app can’t keep up with the changes, you might need to find one that can.
How Do Government Regulations Affect Your Choices?
If you want to get good trucking office software, you need to do your research. You must get one with the right reputation for quality control and an outstanding customer service. The app should adhere to the DOT government regulations.
It should have a fine-tuned delivery process that reflects changes in accordance with various laws. Some of these laws include:
- ELD Mandates and Hours of Service
- IFTA Fuel Tax Reporting
- Driver Management
There are a lot of other laws that you need to watch out for. These regulations affect the transport industry as a whole. You need to ensure that the app’s updates comply with it no matter how long you use it for.
Get the Best Trucking Accounting Software Today!
In today’s society, manual accounting is inefficient since it takes a long time. The transport industry is fast-paced. What this means is that automating some processes is now a necessity.
That’s why it’s important to know your options. You need it before committing to a trucking accounting software choice.
If you aren’t sure how to start, you need to think about these features. It will serve as your guide to ensure that you get the most out of your investment. Remember, a single mistake can make you lose everything.
Do you need good trucking software for your business? Sign up today and get started!