IFTA & Compliance
The trucking industry is heavily regulated. Tracking the fuel costs and trip logs is critical for reporting and compliance. We implement an integrated approach to amass all the data and keep it in a single place.
IFTA compliance is essential to the success of your business. The integrated approach enhances your ability to organize and report your fuel usage more efficiently. Thus, you can calculate the taxes for each mile driven and file the taxes timely.
Payroll
Payroll is a highly complex process that ties into your finances and taxes. Our team has deep expertise in payroll and compliance, and our automated processes will ensure everything is completed on schedule. Here are our value-add services for payroll
- State and Federal Registrations
- Employee setup
- Payroll Processing
- Payments and Compliance
- Notice and issue resolutions
- 1099 Payments and Compliance
Bookkeeping
Trucking is always on the go; documents are strewn everywhere in office, trucks, and homes. It’s difficult to find time to collect and collate them to track financial performance, especially with higher percentage of revenues spent towards day-to-day operating expenses. Any delay in invoice collection could cause a significant gap in working capital. Overlooking even one invoice could wipeout all the earnings in that month, creating revenue leaks. Tracking expenses by loads is an essential element for tracking the per mile cost, as tracking your expenses by loads will provide you with greater clarity.
As a specialized industry service, we offer the following services to bring all the information together.
- Vendor Expense
- Vendor Payment
- Customer Invoices
- Customer Payments
- Factoring Management
- Fixed Assets
- General Ledger
- Bank Reconciliations
- Credit Card Reconciliations
- Month End Close
Effective financial planning is essential to the success of any organization. The accountant’s contribution to sound financial management is by no means limited to the provision of day-to-day bookkeeping services. It expands into all aspects of management.
Controllership - CFO Services
The trucking industry is risky and capital intensive. You will need an established tracking record to obtain external financial support such as loans from banks. How do you navigate the initial phase and how do you support the growth path?
Businesses don’t operate in isolation; the sense of finance is required in every individual in the organization. When workers focus daily on finance, good metrics will naturally emerge to guide sharp decisions, foster local empowerment, and fuel growth. This is where we emphasize integrated approach of bringing operations and finance together.
Our robust financial planning is the key to your success! We tailor industry-specific financial planning tools to help you grow your business. Our forecasting, annual budgets, capital budgets and tax planning are all customized to suit the size of your business. Talk to us about increasing your returns and reducing risk.