Accounting And Dispatch

Why owners & fleet operators Shouldn’t Use Regular Tax & Accounting Services

The trucking industry is one of the most vital industries in the U.S. and serves as the backbone for the entire economy – and yet, resources, tax preparation services, and accounting for fleet owners & truck operators is difficult to come by. The lack of tools result in fleet owners and owner-operators searching for independent tax services, trucking accountants, and CPAs. 

Most fleet owners and truck operators wind up with regular tax and accounting services that don’t provide answers to the crucial questions that make tax preparation for truck drivers as easy as possible. fleet owners and truck operators need to be careful when picking a trucking CPA or else you’ll end up looking up questions like:

  • Can truck drivers deduct mileage?
  • How much per diem for truck drivers?
  • Are owner-operators self-employed?
  • Where’s the best state to form an LLC for a trucking company?
  • What can truck drivers deduct on taxes?
  • What are the tax deductions for owner-operator truck drivers?
  • What does the Cares Act mean for owner-operators?

At TranspoCFO, we have answers to all those questions and more! We love the Dave and Jimmy podcast as much as anyone else, but when it comes to the best tax preparation for truck drivers, we provide the best and most in-depth solutions for you and your trucking business. 

While traditional tax services can help with basic tax preparation, TranspoCFO delivers everything needed with expenses and finances. We have everything from account preparation to accounting for fleet owners and truck operators, outsourced CFOs, bookkeepers, and more.

Our Accounting For owner operator Package includes:

  • Account Reconciliation: Balance sheets, Profit & Loss statements, trend reports, and cash flow statements
  • Accounts Receivable/Payables: Process bills and payments, prepare and process invoices
  • Reconciliation: Reconcile electronic transactions into Quickbooks, reconcile bank accounts, reconcile credit card and loan accounts

Our Tax Preparation Services include:

  • Form 1040 – Individuals
  • Form 1065 – Partnerships
  • Form 1120 – C Corporations
  • Form 1120-S — Small Corporations 

Our Outsourced CFO Services include:

  • Forecasting
  • Client Manager meetings (video)
  • General business consulting
  • Regular video conferencing to review key performance
  • Strategy to build to scale or build to sell

TranspoCFO is your one-stop-shop for all trucking bookkeeping needs. Truck drivers and owner-operators need more than just a regular CPA – they need people who understand the trucking business from owner-operator tax write-offs to tax deductions. 

Going with a standard tax preparation service can leave money on the table for you and your company. TranspoCFO will track your cash flow and expenses so you can not only make sure you’re making the most of every dollar but you’re also getting back what you deserve and not overpaying for your essentials.

Stop searching for trucking bookkeeping services, how to file taxes for your trucking company, and winding up in chat forums – get started with TranspoCFO today! With expert accounting for truck drivers, competitive pricing, and services designed specifically for you, TranspoCFO is the ultimate choice when searching for tax professionals for truck drivers. 

And now, with tax season quickly approaching, this is the perfect time to call in the best trucking accountants and make this tax season the easiest season of all. 

Why owners & fleet operators Shouldn’t Use Regular Tax & Accounting Services Read More »

Keep Your Books On Track And Your Truck On The Road

Why You Need A Bookkeeper In The Trucking IndustryWhile people see plenty of trucks on the road, people don’t see the processes that go into getting that truck on the road.
In fact, most trucking businesses will fail within the first year. One of the most complex, yet crucial aspects of trucking is financials. From tax preparation and determining deductions to reconciling books and managing P&L’s, it can all get a little overwhelming –especially for owner-operators and drivers.
Bookkeeping for truck operators is the ultimate solve for those looking for financial support. However, not all accountants or tax services will understand the ins and outs of the industry and what works best for you and your truck. That’s why finding a seasoned and experienced tax professional for truck drivers is a foolproof way of streamlining your financials, letting you save time, money, and peace of mind.

  • TranspoCFO can help with all of truck operator’s most common concerns including:·
  • Tax deductions for fleet owners and owner-operators· 1099 truck driver taxes·
  • Truck operators bookkeeping services·
  • Cares Act for owner-operators

Focus on your business and leave the financials to us –the experts! Starting at the ground level, we look at factors from layovers, lumper fees, and everything in between. Keep your financials all in one place and at your fingertips. Here are five tips surrounding common questions and how TranspoCFO can provide the best tax service and accounting advice for fleet owners.
When to Prepare for Tax Season
Tax season can quickly become the worst season for truck drivers and owner-operators if you’re not fully prepared. Maintaining records, categorizing expenses, and tracking receipts all year long is an absolute must if you want to avoid delays, audits, and more. Let us deal with the 1099 for truck operators so you can get back to business.
How to Calculate Business Performance.
Money talks. Your financials are the window to how your business is performing. Organizing documents like P&Ls, balance sheets, and cash flow statements can give you a quick and easy look into overall business performance.
Where to Track Your Money
Knowing where you’re spending money means knowing where not to spend your money – we’ll analyze the ins and outs of your cash flow, making sure you’ll not only pay your bills on time, but also find ways to save for the future.
How to Follow Audits
While they may be annoying, they are at times necessary. With TranspoCFO, audits don’t have to be the headache they once were!
We’ll keep your financials accurate, organized, and readily available so you don’t have to get hit with additional taxes or penalty fees.
When To Reconcile Books
Reconciling your books on a scheduled cadence is the easiest way to avoid accounting errors down the road and spot fraud. We’ll track every penny and ensure all your statements line up with your books every month.
Keeping financial statements organized is crucial – not only for providing a snapshot as to how your business is performing but also to create a seamless and simple process come tax season.
With TranspoCFO, we have solutions for all kinds of owner-operator bookkeeping and businesses. From accounting services, outsourced CFOs, and tax preparation for truck drivers, let us focus on the financials so you can focus on your business. Schedule a call with one of our experts now!

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Best Accounting Practices for Logistics and Transportation Companies

Transportation and logistics companies play an important part in everyday business by transporting goods from one location to another. With the emergence of global e-commerce, the role of the transportation and logistics industries has grown even more.

The uncertainty in operational expenses is one of the key reasons contributing to this. Furthermore, fluctuations in the oil price and transportation rates might contribute to losses if not controlled appropriately.

Airlines, cruise lines, railways, and shipping/trucking companies, for example, face a number of accounting and operational problems that might have an influence on their net earnings. As a result, good accounting standards must be followed to manage their cash flow and liquidity.

Best Accounting Practices to follow

Let’s take a brief look at the best practices for handling finance and accounting in logistics.

1. Regular Profitability Analysis

There are several variable expenses in the logistics industry that fluctuate quite often and can result in significant losses for the company. Businesses operating in the logistics and transportation industry must conduct regular profitability analyses.

To calculate actual profits, it is necessary to closely monitor all of the variable expenses. Because these expenses are subject to frequent fluctuations, that will affect the profitability of the business.

2. Use Updated Accounting Software

Many businesses continue to rely on outdated logistics accounting software that is not capable of meeting the demands of modern businesses.

Using updated logistics accounting software can help you in producing data that is extremely precise and error-free, as well as reducing numerous manual interventions and automate many accounting-related operations that demand precision and accuracy.

3. Financial Forecasting and Budgeting

Financial forecasting and budgeting are critical while building a sustainable business. Financial forecasting is the practice of anticipating a company’s performance in the near and distant future. It considers several factors that may have an influence on a company’s overall success.

4. Produce Monthly Financials

Transportation and logistics firms should publish reports monthly to stay financially cautious. This includes creating cash flow and income statements as well as financial predictions. It is significant since many variable expenses are linked with logistical operations, such as shipping charges, oil prices, and so on.

5. Follow the Local Legislation

Transportation and logistics companies must always follow the appropriate and applicable local regulations. It is important to be aware of and follow local rules and guidelines established by authorities.

This can also assist companies in avoiding legal or financial consequences. Seeking legal guidance is also necessary if the guidelines conflict.


These are some of the important guidelines that businesses in the logistics and transportation sectors must follow. Because there are so many fluctuating variable expenses, it is even more critical for these companies to keep on top of their accounting game. Using reliable cloud-based accounting software may transform logistics businesses.

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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.

How can Accounting and Dispatch Work Together? Read More »


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