trucking accounting software| truck driver hours of service| truck driver payroll| TMS Solution | IFTA quarterly fuel tax report | IFTA calculator | Keeptruckin Integration | quickbooks integration
The Project, In A Nutshell
A US-based trucking company approached us for a comprehensive trucking accounting software that would sync with their trucking management solution (TMS). Their existing accounting software was not fulfilling their TMS requirements so they were in need of a product that could easily be integrated with the other trucking software tools that they were using.
Being pioneers in the domain, DreamzTech recognized the specific requirements of the client. They not only needed to manage their books, equipment depreciation but also keep track of inventory, heavy machinery and extensive travel for their drivers. Thus, in addition to standard accounting features like general ledger, accounts payable and accounts receivable, they needed an accounting system having freight, per mile and other transportation-specific pricing, besides supporting driver and vehicle tracking, reservations and dispatch. Keeping this in mind, the customized trucking accounting software we developed includes all features like payroll integration, expense management, track profit and loss by load, LTL planning and billing and IFTA tracking with reporting.
Key Challenges
We had to keep the following factors in mind while developing this state-of-the-art trucking accounting software:
- Unpaid receivables:
It was difficult to track every expense in connection to dispatch of loads and mounting driver expenses.
- Timely collection of payments:
The client was struggling to collect the outstanding payment with required documentation. Lack of sync between two solutions, namely the transport management software and accounting solution, was making it difficult for them to manage the cash flow.
- Dispatch and Load Tracking:
Customers trust only reputed brands. 84 per cent of customers are unlikely to return to a brand even after one poor delivery experience. However, this perfection in dispatch cannot be achieved using a manual process.
- Manual Documentation:
Maintaining paper documents manually is tedious and error-prone.
- IFTA fuel tax report:
It was difficult for the client to prepare a report of IFTA fuel Tax without the help of a state-of-the-art accounting software.
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Dreamztech’s Cutting-edge Solution
Using our wide working experience in this critical sector on the global platform, DreamzTech took stock of all the problems the client was facing and developed a customized trucking accounting software. It was integrated with the other trucking management modules to facilitate the tracking and managing of all financial details related to book-keeping, invoices, driver expenses, IFTA tax calculation and submission under one umbrella.
Some of the notable highlights include:
- The system has the option to generate invoices against the dispatched Truck Loads. It develops the statement of customer accounts and manages the ‘receivable’ status along with the bank reconciliation.
- All office expenses and driver expenses are managed through the system. Through a mobile app, it keeps record of all other expenses associated with each trip. This includes the expenses of the truckers that lead to a highly accurate projection of profit and loss.
- The software helps to generate the payroll for company drivers and employees. The reports are generated based on truck driver hours of service basis and related expenses. The system can also generate checks in standard formats.
- The software keeps records of the overall load transportation. IFTA calculator in the system generates the vital IFTA reports with fuel tax data.
- The trucking accounting software mobile app supports both the Android & iOS platforms that helps in trip planning for truckers.
- It supports various API integrations like Quickbook Integration and Keeptruckin Integration.
A Wide Array Of Benefits For The Client
After using our Trucking Accounting Software for a year, our client has benefitted immensely: it currently has 50+ active clients, 500+ users, 250+ connected drivers and has clocked 1.6M+ revenue
Manual to Digital Book keeping:
Transformation from manual documentation to complete digital book-keeping
Better experience with Cloudbase solution:
One tap load tracking, trip reports, flawless income and expense management reports
All facilities under one umbrella:
One tap load tracking, trip reports, flawless income and expense management reports
Mobile App for Quick response:
Mobile Application for both the administrators and users of the platform to use it on the go
Increased revenue & timely payment to employees:
The implementation of the software resulted in happy employees who received accurate reimbursement and timely payments. Added to this was a substantial increase in revenue with timely payments of accounts receivable from customers