Trucking Accounting Software Industry 2021

 Trucking companies have specialized needs when it comes to accounting. Not only do they need to manage their books, bill and invoice clients and manage equipment depreciation, but they also have to keep track of inventory, heavy machinery and extensive travel for their drivers.

 

 To Know more 

Therefore, aside from standard accounting features like general ledger, accounts payable and accounts receivable, these accounting systems will have freight, per-mile and other transportation-specific pricing, and will support driver and vehicle tracking, reservations and dispatch and mobile solutions to facilitate driver-dispatcher communication.

The rise in the number of COVID-19 cases has caused a major blow to the transportation industry. With most governments enforcing isolation practices, there is a substantial decline in the transportation industry. The US is experiencing the early stages of the pandemic; however, a drop-in passenger numbers can already be seen. In New York, ridership on the subway is dramatically down; March 11 saw 948,000 fewer trips than an average weekday in January. To stand up to the challenges, governments are taking several initiatives. In countries, such as China and the US, all sorts of toll and fare collections have been stopped. China is also putting in place a no-stop, no-check, toll-free policy for vehicles transporting emergency supplies and essential personnel. This will reduce the burden of logistics companies that are already under severe pressure. Such initiatives will also ensure the smooth and timely delivery of essential supplies. Some of the initiatives include the conversion of parking spaces into restaurant food pick-up zones, waiving off transit fares, and converting car lanes for pedestrians and cyclists.