As an accountant in the logistics and transport industry, one faces loads of challenging tasks while computing accounting statements. Key aspects around which transportation accounting evolves are freight quote and cost, freight invoice, transportation invoice auditing, payment of freight, consolidation of freight invoice and having full knowledge of transportation-in and transportation- out.
To compile entries of each of the above and arrive at the end figures is certainly not a cakewalk affair. Even if anyone element is missed out, then the end accounting figures will not project the true and fair picture. So to transpire accounting in the logistics industry and to arrive at accurate accounting figures one needs to have the best transport accounting system that easily integrates all the transactional entries and streamlines the operations by reporting key analytics and optimizing the carrier routes.
The fully automated and user-friendly accounting software; is a robust tool to assess financial accounting from any remote platform with a single click. The software is simple to operate and easy to understand in a way the user can retrieve any the information relating to accounts in just a single click.
It is easily customized and can fit into the needs and requirements of the logistics firms. The accounts manager or accountant can easily get real-time integration and streamlines all the accounting processes in just a single click.
The state of the art accounting system provides end to end solutions for all the accounting issues and that too with the highest level of accuracy. The benefit of incorporating the customized accounting software specially designed for transport companies is the ability to perform fleet specific functions like easy tracking of loads, settlements and freight details.
The transport company can easily optimize the transport budget, master costs, and draft invoices by using this user-friendly accounting software. The system is flexible enough to adjust in tune to serve a diverse and demanding clientele and comes with a user-definable and adjustable accounting structure to handle even the complex of accounting aspects.
The integrated accounting software, developed specifically for transport companies to handle its complex accounting procedure and entries about freight, settlement of drivers, ledger, payables and receivables, payroll entries, etc.
The system moves the logistics companies from loads of paperwork to one invoice, one bill, and one payment.
Right Accounting Keeps Update Business
Accounting systems are both important and easily accessible to transport businesses. This is because the accounting software provides the computer with the ability to handle basic book-keeping tasks like invoicing, payroll and cash flow monitoring. The software helps to optimize the whole accounting system and keeps the organization updated with business moves and transactions.
The easy to use and flexible software saves time as it easily streamlines all the accounting details about key aspects – freight, driver’s settlements, payroll, expenses, etc. The customized accounting system generates reports automatically thereby enabling the transport manager to get a clear picture of all the accounting details accurately.
The system also enables automating tasks such as calculating the pay of drivers and staff, calculation of freight, dispatch details in just a single click. Such speedy transpiring of vital details helps the manager to have a bird’s eye view of all the accounting transactions and entries that were taken place and to report any discrepancy to the top-level authorities.
As the entire accounting is computerized the chances of errors are reduced thereby generating a flawless picture of accounting to the user. The system easily and automatically records payables and receivables thus projecting the cash flow statement and position into the future in just a single click. This will help the management to decide on the future course of action and make any changes for the betterment of the logistics company.
In Manual accounting, there were high chances of committing mistakes while making calculations. Certain mistakes did; causes huge losses to the company. However, automated and easy to use software does away with any sort of error in accounts thus providing clear and accurate figures which the transport company can always count on.
The main advantage of using a computerized transport accounting system is its capacity to run reports to determine which clients have made the payment. The logistics accounts managers easily get reports of which client owes, how much. This puts the manager in control of the finances.
The success of any business relies on prompt and accurate information and a robust and customized accounting system fits this factor well. As the application is managing all your financial transaction, it has in its disposal extensive data and can easily generate various kinds of reports which will help the organization for accurate future decision making as the manager can easily see how your revenue is divided into various operating costs and can draft policies for any improvements.
GST Billing System
With the advent of GST, the entire accounting system is changing and has become a bit complex. Transport companies had to face the glitches in the GSTN portal, cumbersome procedures and cost of compliance remain a major concern.
This aggravated the issues like a delayed reflection of updated data as well as payments, delays in process of input credit set offs, inability to upload heavy files of certain formats and lack of provision to make changes or revise errors posed major challenges to the logistics business.
State of the art and user-friendly transport accounting system with the provision of GST eases the major burden of the company as the customized system ensures that all the provisions of GST are being taken care of and considered while the accounting entries are computed.
The user-friendly and organized system enables the transport organization to generate bills, use reports to search for total bills, etc all done easily in no time. With a single platform, the company can retrieve everything like generating bills with prints, access all reports with accounting and billing. Get regular updates and access to all the business details from any remote place.
Software is capable of generating all the bills in tune with the requirements and consideration of GST doing away with all the complexities of the accounting system. The GST enabled software transpires the A-Z of accounting work of logistics companies i.e. from voucher entry to final statements.
It also provides ready data to generate GSTR 1 and GSTR 2 in one go. It helps the accountant to complete the accounting with voucher entry, accounting books, and final statements, simplifies interest calculation with auto journal posting, it easily generates auto bank reconciliation and general ledgers reconciliation.
The accounting system directly generates the GST eWay bill from ledgers and track the status. It generates the waybill in flash of seconds from the existing invoices, bill of supply, purchase invoices or delivery challans.
The user-friendly accounting software automatically reconciles your input tax credit against
GST portal data and purchase register and easily synchronize ledgers with the GSTN portal to auto fetch all the GST invoices and purchase data. The easy-to-use accounting system is comprehensive and user-friendly to suit the diverse GST needs of the transport companies. The system also enables us to create and share GST compliant invoices and tally them, retrieve accurate reports, calculate taxes automatically and file GST returns without any hassle.
