Ryan Smith

How can Accounting and Dispatch Work Together?

The trucking industry is complex, and the roles within it are diverse. In this blog post, we’ll take a look at how accounting and dispatching work together to keep the trucking industry running smoothly. By understanding the relationship between accounting and dispatch, you’ll be better prepared to navigate this challenging but fascinating industry.

Relationship between accounting and dispatch

Accounting and truck dispatch are two of the most important functions in any company. They’re also the two that can be most easily overlooked.

The accounting team is there to ensure that all your financial records are up-to-date and accurate, but it’s also responsible for making sure that you have a clear understanding of where every piece of equipment in your fleet is at any given time.

On the other hand, the dispatch team is there to make sure everything runs smoothly when it comes to getting materials from one place to another. They need to be able to get those materials where they need them as quickly and efficiently as possible.

How can accounting help in dispatch?

● Obtain all of your deductions

Accounting can assist you by quickly detecting possible deductions throughout the year and advising you on how to make effective year-end deduction selections.

● Save time and energy

Accounting can help you maintain your concentration while also keeping you on track to meet your business objectives.

● Make decisions in real-time

Accounting can assist you with planning and tracking cash flow on a consistent basis, allowing you to manage any obstacles that arise in real-time.

Taking a collaborative approach to accounting helps you to make choices faster based on the most up-to-date data, as well as benefit from a consultative relationship that will assist you in making business decisions when you need them.

● Make plans for the future.

Finally, one of the most significant advantages of accounting is receiving advice on how to plan for the future. You may study the seasonality of your business by pulling information from previous months. This will allow you to decide the optimal time to plan for your future dispatch and budget for dispatching services, allowing businesses to remain competitive and sustainable.

Your One-Stop Shop to get both Accounting and Dispatch

At TranspoCFO, we are committed to offering our trucking industry partners with high-quality and economical accounting services, including financial solutions.

Accounting Operations

We offer a full Accounting and Operations View to guarantee that your business grows smoothly.

For example, when we offer you the monthly closing, we also highlight which routes make financial sense.

Trucking Operations

We also provide synchronized accounting and operations to guarantee that revenue leakages are avoided.

For example, if there is a detention cost or lumper fee, the accounting team will be aware of it due to the co-located Operations Team and will assure its payment.

Competitive Pricing

We provide the lowest combo price of Accounting and Dispatch packages in the industry.


In order for this trucking industry to run smoothly, there must be a coordinated effort between accounting and dispatch.

At TranspoCFO, we know how important it is for accounting and dispatch to work together effectively. If you’re looking for more information on this topic or need help coordinating your accounting and dispatch functions, please visit our website. We can help you make sure your trucking business runs like a well-oiled machine.

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Ten Smart Tips to Master Trucking Bookkeeping

Managing your trucking company’s books is one of the most essential actions you can do to help it succeed. We’ve developed a list of 10 Smart Tips to Master Trucking Bookkeeping. From knowing your company entity type and utilizing a business credit card to lowering day sales outstanding.

1. Keep every receipt, no matter the charge

You want to deduct as many valid expenses as possible. Keep an envelope in your van to gather receipts, or utilize e-receipt files on your computer or in the cloud. Use the folders for accurate quarterly tax calculations and monthly profit-and-loss statements.

2. Keep Your IFTA Data Up to Date

Keeping track of your IFTA data is one of the most crucial aspects of owning a trucking company. You must submit an IFTA report detailing the miles traveled and gallons purchased at the end of each quarter. These reports will establish whether you still owe tax or whether you are entitled to a refund. The IFTA office in the home state of your trucking firm will notify you of your refund or debt.

3. Use a different credit card for business costs

Using a company credit card may aid in the simplification of your bookkeeping, and most accounting systems link with your bank and credit card accounts. Because the data is automatically entered whenever a payment is made, it saves time and eliminates any mistakes. Having a company credit card will also help you to simplify your bookkeeping because you can typically categorize costs like petrol, meals, and maintenance.

The first step is to look at several possibilities and choose one with a cheap interest rate and no annual charge. Given how much truckers spend on petrol, credit cards with fuel benefits are great. You prevent large interest costs, make sure to pay your debt in full each month.

4. Know Your Cost Per Mile

Regardless of the number of miles traveled, your variable expenditures per mile, such as fuel, should remain fairly consistent. As the number of miles traveled grows, your fixed expenditures per mile, such as insurance, should decrease dramatically. To identify patterns or areas for improvement, you may want to compute cost-per-mile separately for each category, such as drivers, equipment, states, or consumers.

5. All of your log books should be saved.

Your logbook and/or electronic log records are your greatest proof of per diem eligibility (primarily composed of meal costs). If you rely only on your electronic logging device (ELD) for truck driver bookkeeping, ensure that you can preserve and access your past. In any case, knowing this is a must for inspections.

You should require your truck drivers to preserve three sorts of documents: trip reports, expense receipts, and maintenance receipts—and make sure they carry a notepad in their vehicle to record mileage and any expenses for which they do not receive a receipt.

Logbooks are your greatest proof of eligibility for per diem expenditures, which are mostly food expenses. Keep track of what specific payments are for, even if they aren’t immediately recorded since this will allow you to deduct as many genuine charges as possible.

6. Save all your records.

All records used to compile your tax return must be kept for three years from the date you submitted the return. All IRS quarterly estimated tax payments, monthly profit, and loss statements, insurance documentation, maintenance records, warranty information (which should be available immediately to keep your truck on the road), registration information, settlement and bank statements, trucking business credit card statements, and canceled checks should also be kept.

7. Maintain a notebook in your truck.

To comply with IRS laws, truckers must track the date, location, amount, and justification for each charge. Use this notebook (together with your receipt envelope) or a document on your computer or smartphone to record any costs for which you do not have a receipt. This covers situations such as washing your truck at a coin-operated facility or recording miles for work usage of your own vehicle. Provide your business services provider or tax accountant with a monthly record as well as any additional receipts.

8. Regularly review your finances.

Electronic invoicing and payments make sending and paying invoices, as well as receiving money, easier and faster. You no longer need to wait for a physical check to clear. Keep track of the money coming in and going out of your bank account to ensure you are paid what you’re entitled.

Check your bank accounts for spending to ensure they are real, especially if you are not the only one with access to the account. If there is a disparity, you want to identify it as soon as possible before it becomes a major problem for your trucking company.

9. Discover the Finest Accounting Software.

Whether you’re an owner-operator or operate a small trucking company, the correct accounting software can help you maximize your company’s performance.

No matter the size of your company, it’s also critical to keep thorough records on mileage and excursions. All of this information, as well as transportation management capabilities such as fleet maintenance tracking, will be provided by the optimal accounting system.

10. Choose the Best Payroll Solution.

Payroll processing for a trucking firm might differ from that of most other sectors. Working with the appropriate payroll provider can be the key to saving time and needless paperwork because drivers can be rewarded by the truckload or kilometers traveled rather than receiving a monthly or weekly salary.

Ideally, you should be able to manage unusual payroll issues and meet trucking-specific standards while also simplifying compensation calculations. Depending on the size and demands of your company, you may be better off with basic software or with transportation management tools.

In Conclusion

Regardless of the size of your fleet or how long you’ve been in business, understanding trucking accounting best practices can help you stay in compliance with industry-specific requirements. It will also assist you in making educated decisions and positioning your firm for future development. As a result, you should use these trucking bookkeeping techniques to boost profitability and save time.

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