Truckers have been called the backbone of American economy, and just as the economy needs a strong backbone to run smoothly, so does a QuickBooks file. Creating a solid chart of accounts will make it easier to enter information into QuickBooks for your company.
Transportation companies usually offer services such as fright, product, partial load, pipe load, heavy haul, or passenger transportation. All of these types of transportation require both a gas surcharge income account and a gross trucking income account. If you charge for layout, pallet, stops, or unloading, you may need separate income accounts to record these revenues as well.
Trucking expenses mainly have to do with truck maintenance, so make sure to have expense accounts for the purchasing of new trucks, rig repairs, and the purchase of tools and items to help aid in the loading and unloading of the trucks. Gas is another expense to keep track of, but since the price of the gas is being charged to the client, gas charges should be recorded as a Cost of Goods Sold account.
Where Can I Find More QuickBooks Help?
To learn about a chart of accounts for another industry, try our post on industry specific charts of accounts.
Download a free PDF on how to customize your QuickBooks file and accounts, please enter your name and e-mail below.