Shipping & Logistics
Enhance the reporting process for supply chain logistics businesses, making it both seamless and highly insightful.
Compliance with Regulations
Ensure global regulatory compliance with outsourced accounting services made simple.
Scalability
Boost your business growth with a skilled remote staffing team, cutting labor expenses while enhancing operational efficiency.
Core Business
Unlock time and resources for shipping and logistics companies through outsourced accounting and associated services.
Shipping & Logistics Accounting Outsourcing Services - AccounTax Bookkeepers
Transportation is a vital component across all industries, serving as the backbone of trade and our economy. However, the transportation business encounters numerous challenges on a regular basis as it operates within diverse industries, serves various individuals, and spans multiple locations.
Amidst intense competition, there’s a continual escalation in fuel costs and capital expenditure. Therefore, it’s imperative to prioritize future business growth and emphasize proactive planning.
To address cost reduction, businesses in the industry increasingly turn to outsourcing services for their bookkeeping and accounting needs. This enables them to optimize input costs and revenues through tailored solutions, enhancing operational efficiency in customer service and sales.
AccounTax Bookkeepers offers customized shipping and logistics accounting outsourcing services tailored to the specific requirements of your company.
Our Shipping & Logistics Accounting Outsourcing Services
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Order Management and Billings
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Accounts Payable
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Reconciliation Services
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Management Reporting
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Other Accounting Services
- Processing freight bills involves comparing them to scanned bills of lading (BOL) and entering them into accounting or logistics management software.
- Audit freight invoices for compliance with terms listed in BOL and other shipping documents.
- Review posted transactions to identify significant errors, such as duplicate invoices or incorrect freight rates.
- Audit for over-billing and claim rebates from carriers.
- Capture order-related information into ERP/accounting systems using BOLs, order and client details, rate contracts, and other supporting documents.
- Prepare and send invoices to customers.
- Track order status, update delivery exceptions, held shipments, and delays.
- Post purchase orders, fuel tickets, time sheets, driver logs, and other relevant documents.
- Matching invoices with purchase orders (POs) and rate contracts while adhering to specified approvals and budgetary control procedures.
- Processing invoices, including approvals, routing, and handling exceptions.
- Processing invoices with posting of POs, invoices, and goods receipts notes.
- Conducting detailed vendor reconciliations.
- Generating vendor aging reports.
- Approving vendor bills and ensuring timely payments to avail early payment discounts.
- Managing cash flows effectively.
- Initiating electronic fund transfer (EFT) requests to pay vendors.
- Bank reconciliation, encompassing credit card, lockbox deposits, checks, and electronic fund transfers (EFTs).
- Clearing and inter-company (bridge) account reconciliation.
- Agent reconciliation.
- Merchant account reconciliation, ensuring alignment between funds collected and deposited in bank accounts.
- Credit card reconciliation.
- Reconciliation of driver logs.
- Generating key-performance indicators (KPIs) reports covering financial and operational parameters, including on-time delivery, freight volumes, and order fulfillment rates.
- Preparing profit and loss statements.
- Compiling balance sheets.
- Creating cash flow statements.
- Generating aging reports.
- Offering customized reporting tailored to client requirements.
- Maintaining general ledgers.
- Handling monthly accruals and posting closing entries.
- Making inter-company adjustment entries.
- Managing travel and entertainment expense accounting.
- Maintaining fixed asset registers, including depreciation, asset improvements, and asset purchases and disposals.
Who We Serve
Freight forwarding
Warehousing and storage
Customs brokerage
Supply chain management
Transportation
