In short

Trucking bookkeeping is organized by load and by unit. Each invoice is recorded at its full amount with fuel surcharges and accessorials, factoring advances are split into fees, reserves and cash received, and fuel card statements, tolls, repairs and tires are coded to the truck that incurred them. Settlement statements for owner-operators or leased drivers are reconciled so advances and deductions are recovered correctly.

From rate confirmation to cash

For each load we work from the rate confirmation and invoice, not the deposit. Linehaul, fuel surcharge, detention and lumper reimbursements are recorded separately so you can see what each broker actually pays.

Factoring entries that reconcile

When an invoice is factored, we record:

  1. The full invoice as revenue and a receivable from the factor
  2. The advance received in cash
  3. The factoring fee as an expense
  4. The reserve held as a receivable until it is released or charged back

This keeps your revenue accurate and makes the true cost of factoring visible each month.

Fuel cards and unit coding

Fuel card statements list each purchase by card and often by truck. We code fuel, DEF, tolls and scales to the unit, and do the same for repairs and tires from shop invoices. With costs coded by truck, the monthly reports show cost per mile per unit.

Driver settlements

Settlements combine pay per mile or percentage, advances, escrow and deductions. We reconcile each settlement to the payment made and keep escrow balances on the balance sheet where they belong.

Supporting tax filings

We keep a record of each truck's purchase date, cost, loan and taxable gross weight, which supports your preparer when they handle depreciation and Form 2290.

Before we start

We gather settlement statements, fuel card reports and equipment loan documents.

Key terms

Definitions for terms used on this page:

  • Balance Sheet: A balance sheet shows what a business owns, what it owes and the owners' equity at a specific date.
  • Depreciation: Depreciation spreads the cost of a long-lived business asset over the years it is used, rather than deducting it all at once.

Trucking & Transportation problems this addresses

  • Factoring companies advance cash net of fees and reserves
  • Fuel is the largest variable cost and is paid with several cards
  • Driver settlements combine pay, advances and deductions
  • Trucks and trailers are expensive assets with loans attached
  • Heavy highway vehicle and fuel tax records must be kept by vehicle