Accounting for the Transportation Industry

The accounting requirements of each industry stand to be different and have some special accounting characteristics. When we talk about accounting for the transportation and trucking industry, it attracts lots of freight bills, invoices, receivables, etc. and thus it’s very important to treat these accounting needs deliberately.

Requirements of the Industry

Following are some typical terms to be take into consideration for accounting of transportation and trucking industry.

Freight and Transportation Invoice:

Freight is an essential part of a transportation business which counts as one of the major costs that the business incurs while transporting the goods. So, it’s essential to keep a record of freight and transportation bills or invoices. We understand the demand for great freight management accounting and we are abided to deliver it.

Invoice auditing:

In transportation and trucking business, there are many invoices being sent and received on a day-to-day basis. This makes these businesses prone to errors, so one needs to do the accounting very accurately and the invoices must match with the data available to avoid any blunder in the final balance sheet. We at Meru Accounting take care of all these parts to ensure good services to the clients.

Payroll control:

Apart from the other accounting needs, we at Meru Accounting also manage payroll control effectively. We take care of our clients’ pay periods, manage employees’ payroll activities, and also analyze payroll to give a better and clearer view to our clients.

We understand the value of uniqueness of this industry and in accordance with that we have brought up the most suitable accounting package for transportation and trucking businesses. Below is a glimpse of our services.

Accounts payables

We accurately maintain the accounts of payables for our clients in different industries including transportation and trucking industry.

Accounts receivables

Just like account payables, we also keep a good record of receivables that have already come or are yet to be received. We ensure that the business runs smoothly and also maintain the soundness of business.

General ledger and budgeting

We maintain the general ledger and articulately build the budget for our clients as per their requirements.

Assets and Liabilities Management

This is an important aspect of accounting; to manage the assets of the company and to take care of the liabilities. Imbalance in doing so can harm the business and thus we take care of this need, so that our clients can focus on the core things.

Cash flow management We look after a business’s financial soundness and make sure that cash flow in at regular times, and that’s what Cash flow management means.

Apart from all these services, we at Meru Accounting also take care that a business matches with the industry benchmark. We also do the KPI management  accurately.