Many trucking, haulage or auto leasing companies, despite their size and capabilities, still use ledgers, manual invoice and excel spreadsheet to manage their financials. If you fall into this category and are looking for the best software to organise all your books into place so you can have a quick look at your company financial performance on a real-time, then, you need QuickBooks accounting software solution.
From our interactions and setup for clients in the haulage sector, here are some of the deliverables of a well customised QuickBooks Pro, Premier or Enterprise Solutions:
Contact Us: info@accountingsoftware.com.ng
For haulage companies that own the trucks, QuickBooks lets you track all your trucks (Non-current asset), their current value and provides room for depreciation of these assets. When you lease these truck to customers, the system creates invoice or receipt; track payments received and show outstanding balance if possible.
However, if you only render haulage services, no lease, then you can track all transactions with your clients; create an invoice containing details of goods despatched, quantity, drivers’ details, expected delivery period, etc. All the expenses incurred during the period can also be monitored and recorded as cost of sales/despatch.
For truck maintenances, QuickBooks uses the “Enter Bill” or “Write Check” window to keep all expenses on truck maintenances, repairs, fuel consumptions in check. You can also categorize the expenses by truck numbers. Other expenses like the insurance premium on each truck, part replacements and wages are not left out too.
Some businesses disburse cash to the truck drivers to cover some unforeseen expenses with a report on how cash was used. QuickBooks petty cash features were designed to keep that workflow in check.
More features of QuickBooks customized for a haulage business:
- The system manages all your customers/clients and suppliers details as well as their generate a statement of account which summarises all the transactions between your business and these parties.
- The system generates your overall business position – profit or loss statement, financial position, cash flow and other business specific report that will help timely decision making.
- The software tracks your banking transactions and reconciles any difference that occurs.
- The system deducts VAT on invoices raised, generate VAT liabilities report and help you record all tax filed (including Withholding Tax)
- The system gives room for multiple users to work over a network.
- When you sell a truck as a result of management decision, confirm that the system can track all truck sales
- Depreciation on each truck can also be tracked.
- You can also track trucks at various location (QuickBooks Enterprise)
If you have more questions on how QuickBooks can be customised for your Leasing, haulage or fleet management business, connect with our client support centre.
Email: info@accountingsoftware.com.ng or Call 08105090001