Tag Archive: reports

1. Top 6 Trucking Company Financial Reports

   February 19, 2025 4:21 pm Leave a Comment

   Keeping up with your numbers isn’t exactly the fun part of running a trucking company, but trucking company financial reports are what keep you in business. The good news? You don’t have to spend hours crunching numbers to get a handle on your finances. The goal is to generate these reports automatically, so you always know where your money is going.

   Here are the top 6 trucking company financial reports that keep your business on track (and why they matter).

    

   1. Income Statement: The Profitability Snapshot

   If you only check one report regularly (not that we recommend that), make it this one. The income statement, also called a profit and loss statement (P&L), is one of the most important trucking company financial reports. It shows how much money is coming in, how much is going out, and what’s left over as profit. It breaks everything down into revenue and expenses, so you can see exactly where you’re making money and where you might be bleeding cash.

   WHY IT MATTERS

   • Shows whether your trucking business is actually profitable, or if it’s just working hard for nothing.
   • Helps you spot problem areas, like rising fuel costs or maintenance eating into profits.
   • Makes tax time easier because you already have all your numbers in one place.

   Manually putting together an income statement? No thanks. Trucking accounting software like Frontline Q7 automatically tracks revenue from loads and matches it against your expenses: fuel, repairs, payroll, and everything else. Instead of scrambling through receipts and spreadsheets, pull up your income statement in seconds using any date range you want.

   HOW TO USE IT

   • Check your income statement every month to catch profit dips early.
   • Use trucking software to track revenue and expenses in real-time. The ability to customize your general ledger accounts makes the income statement readable and familiar to you.
   • Adjust rates or cut costs based on what the numbers tell you. Because guessing is expensive.

    

   

    

   2. Balance Sheet: Your Company’s Financial Health Check

   Your income statement tells if you if you’re making money, but your balance sheet tells you if your business is actually in good shape. This is one of those trucking company financial reports that lenders, investors, and accountants care about. This report shows what your company owns (assets), what it owes (liabilities), and what’s left over (equity). In short, it’s a financial snapshot of your trucking business at any given moment.

   WHY IT MATTERS

   • Shows whether your business is financially stable or if it’s running on fumes.
   • Helps when applying for loans. Lenders want to see a strong balance sheet.
   • Lets you compare assets and debts to make smart business decisions.

   Tracking all of your assets and liabilities manually is a nightmare. Especially when things like equipment values, outstanding loans, and accounts payable or receivable are constantly changing. Trucking accounting software keeps your balance sheet updated automatically so you always have an accurate view of your company’s financial health.

   HOW TO USE IT

   • Review your balance sheet every quarter to spot trends before they become problems.
   • Use trucking software to keep real-time data on assets, debts, and equity. Link these postings to equipment, drivers, vendors, or shippers for even stronger reporting potential.
   • Watch your debt-to-equity ratio. Too much debt can put your business at risk.

    

   3. Check Register: Real-Time Cash Tracker

   You can be making a profit on paper but still run into cash flow problems. That’s why keeping an eye on your check register is so important. While it’s not a formal trucking company financial report, it does give you a real-time look at what’s actually in your cash accounts. Every payment, every deposit, and your current balance are all in one place. This is why we put the check register on our list.

   WHY IT MATTERS

   • Shows exactly how much cash you have on hand at any moment.
   • Helps you avoid overdrafts or surprises when big expenses hit.
   • Lets you track payments coming in and going out in real-time.

   Instead of manually updating spreadsheets (or worse, guessing), trucking accounting software like Frontline Q7 lets you utilize an auto-updated check register. Every load payment, fuel purchase, and repair expense updates the register instantly, so you always know where your money stands. The ability to search or filter and export details to Excel makes this register even more powerful.

   HOW TO USE IT

   • Check your register regularly to stay on top of cash flow.
   • Reconcile your register quickly using trucking software tools such as importing your bank statement.
   • Pull it up daily to keep an eye on the balance so you’re never caught off guard.

    

   

    

   4. Equipment Profitability: Classic Trucking Company Financial Reports

   So far, we’ve covered financial reports and statements that are common across all businesses. Now we come to a report that is unique to trucking businesses. Not every truck in your fleet pulls its weight. Some are money-makers, while others quietly drain your profits. That’s why a truck profitability report (or many versions of one!) is a game changer. They break down revenue and expenses by truck, so you can see exactly which ones are making you money, and which ones need to be put to pasture.

   WHY IT MATTERS

   • Helps you spot under performing trucks before they become a money pit.
   • Shows which trucks are the most profitable so you can prioritize high performers.
   • Lets you make better decisions about repairs, replacements, and expanding you fleet.

   Trying to track truck-by-truck profitability manually? No thanks. The most efficient way to produce this report is to use trucking accounting software that pulls data from many different sources across your operations that are matched with the truck. This includes insurance, fuel, maintenance, and revenue. Everything is categorized and profits are computed instantly. Instead of guessing, you’ll have real data to back up your decisions.

   HOW TO USE IT

   • Run the truck profitability reports regularly to track performance.
   • Use trucking software like Frontline Q7 to see real-time profit margin reports per truck. Have super unique needs? A custom report can be built for you using the data of your choice.
   • Stop throwing money at trucks that aren’t pulling their weight. Sell or repurpose them instead.

    

   5. Lane Analysis: Find Your Most Profitable Routes

   Some routes consistently bring in solid profits, while others barely cover your costs. That’s where lane analysis reports come in. These trucking company financial reports help you compare revenue and expenses by route, so you can focus on the lanes that are actually making you money.

   WHY IT MATTERS

   • Helps you identify which lanes are the most (and least) profitable.
   • Lets you spot hidden costs, like deadhead miles and high tolls, that eat into profits.
   • Gives you the data to negotiate better rates with brokers and shippers.

   Manually tracking lane data and profitability across dozens (maybe hundreds) of loads is a chore we wouldn’t wish on our worst enemy. If revenue, fuel costs, tolls, driver pay, and other expenses per load are already getting entered into your software, pulling that all together in a single report is a dream. This gives you a clear picture of which lanes are worth your time.

   HOW TO USE IT

   • Run lane analysis reports to see which routes actually make you money. Use a report that is flexible and allows you to view the data in several different ways. A change of perspective can be helpful for spotting problems.
   • Use trucking accounting software so things like driver pay, fuel, and revenue that you’re entering anyway are already set up for being included on this report.
   • Knowledge is power! Drop low profit lanes or renegotiate rates to boost profitability.

    

   

    

   6. IFTA: Stay Compliant Without the Hassle

   Keeping up with fuel taxes across multiple states can feel like a full-time job, especially at the end of each quarter. But IFTA reports are one of the most important trucking company financial reports for making sure you stay compliant with state regulations without pulling your hair out. These reports calculate your fuel tax liabilities in a snap based on where you’ve driven and how much fuel you’ve used, saving you the headache of manual calculations.

   WHY IT MATTERS

   • Helps you avoid fines and penalties by ensuring compliance with IFTA regulations.
   • Simplifies quarterly filings, making sure you don’t miss any deadlines.
   • Keeps your tax records organized, so you’re always ready for an audit.

   Tracking mileage and fuel purchases for IFTA manually is a nightmare waiting to happen. Trucking accounting software pulls imported data from fuel and mileage entries together automatically. No more hunting down receipts or doing the math yourself. Your software does the heavy lifting.

   HOW TO USE IT

   • Set up your software to track fuel and mileage for IFTA automatically. This can be done by importing the data, or entering it by hand in dedicated areas where you’re less likely to make a mistake.
   • Generate accurate reports with a fuel clicks, including importing the latest IFTA rates.
   • Audit or crosscheck the data using other robust reports. File your IFTA report with confidence, knowing your numbers are right.

    

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   Tracking your trucking company financial reports doesn’t have to be a hassle. With the right reports and the right piece of trucking accounting software, you can keep a close eye on everything from profitability to compliance, and still have time for things that matter most. The key is using data to work smarter, not harder.

   If you’re ready to streamline your finances and stop juggling, reach out for a demo of Frontline Q7.

    

2. How to Manage Common Trucking Business Expenses

   February 5, 2025 11:19 pm Leave a Comment

   You have your obvious trucking business expenses: fuel, maintenance, and driver pay. However, there are plenty of other common costs that you might not be thinking about that can put a dent in your profits. If you aren’t paying attention, you could easily find yourself in over your head.

   In this article, let’s talk about those common but sneaky costs you might be overlooking as a trucking business owner and how to keep them in check.

    

   Deadhead Miles Are More Than Just an Empty Truck

   We all know that deadhead miles means your truck is hauling nothing but air because your driver just dropped off a load and needs to head somewhere else to pick up another one. That empty trip isn’t bringing in any revenue. Yet, it still costs you time, fuel, and wear and tear on your truck.

   The reality is that deadhead miles aren’t always avoidable. In some cases, you have to move empty trailers from one place to another. Maybe you have a fleet of trailers sitting at a distribution center waiting to be loaded, or you have to bring an empty trailer back to the main terminal. These dispatch scenarios involve deadhead miles, and they are one trucking business expense that can sneak up on you if you’re not careful.

   As a trucking business owner, the trick is knowing when the miles are worth it. That’s where understanding your profit margins on lanes is really helpful. Not all deadhead miles are created equal. The cost of the empty miles is worth it if you’re getting a good load at the other end, after all.

   EXAMPLE

   One of your trucks is frequently running empty from Tucson to Phoenix before picking up a load. Since the deadhead trip and the loaded trip are in your trucking software, report on exactly how much the deadhead lane is costing you. If the cost of the 115 empty miles is higher than the revenue earned from picking up the next load, then you’re in over your head on that lane.

   WHAT YOU CAN DO

   Track your profit margins based on to & from lanes. This helps you see where you can or should reduce those empty runs. Even cutting a few miles here and there can make a big difference over time. With the right software, you can quickly spot when your strategy needs to change to stay ahead of the costs before they eat into your profits.

    

   

    

   Tolls, Permits, and Fees are the Silent Profit Killers

   Have you ever heard the phrase “being nickled and dimed”? Fees can definitely eat into your bottom line one load at a time. Unlike the costs you normally think about like fuel and maintenance, these kinds of costs are easy to overlook. Don’t make that mistake!

   Some states are worse than others when it comes to fees like tolls and permits. If your routes run through places like Illinois, New York, or Pennsylvania, you already know what we’re talking about. Tolls and permits in these areas aren’t just a few bucks. They can hit $50, $100, or even more for a single load. Multiply that by every truck in your fleet, every day, and suddenly, these kinds of fees become a serious expense.

   There are dozens of other daily fees that might not seem like much at first. We’re talking about costs like weigh station bypass programs, weight/distance taxes, fuel card fees, and congestion fees. One or two might not feel like a big deal but when they keep stacking up, they can take a larger bite out of your profits than you’d like.

   EXAMPLE

   Let’s say your truck is running a regular lane from Chicago to Indianapolis. Taking the toll road costs $50 but shaves off 30 minutes. If your driver is still well within Hours of Service limits, fuel cost is the same, and the delivery can be made on time, avoiding that toll could save your trucking business $200+ a month per truck.

   WHAT YOU CAN DO

   Most importantly, track all of your expenses in real-time. You need to see exactly how much you’re spending and whether it makes sense to adjust your routes or services before these fees eat into your profits. Tracking even the smallest fees in real-time in trucking software lets you see exactly how they’re affecting your bottom line. Pair this policy with an income statement so you can make smarter decisions and keep more of your cash.

    

   Insurance is the Trucking Business Expense That Keeps Climbing

   If you’ve been in trucking for more than five minutes you already know that insurance isn’t cheap. Year over year, insurance rates are skyrocketing.

   The thing is, insurance is simply one of those necessary trucking business expenses. That doesn’t mean you have to overpay. You probably already know that premiums are based on a mix of factors such as your safety record, claims history, and even the lanes you run or the goods you haul.

   EXAMPLE

   Let’s say your premium jumps by 15% at renewal. That’s a big hit to your bottom line. If you dig into your policy, you might find that switching to a higher deductible or adjusting coverage limits saves you a chunk of that increase.

   WHAT YOU CAN DO

   Some insurance carriers offer discounts for installing dash cams devices, which can prove that your drivers are low risk. Proper software can also help you stay ahead when it comes to insurance premiums. By tracking safety records, incident reports, and maintenance schedules, you can build a case for lower rates when it’s time to renew. Maintaining detailed safety expiration dates that you can report on regularly and loop into dispatch operations means you’re not sending a driver or carrier out with a load when they’re expired on something.

    

   

    

   Are Fuel Surcharges a Friend or a Foe?

   Fuel is one of your biggest cost of goods expense. At least fuel surcharge helps to (hopefully) soften the blow. The problem is that they don’t always keep up with actual fuel costs, and if you’re not keeping an eye out, you might end up covering more of the difference than you want to.

   Shippers and brokers set fuel surcharges based on national averages, but we all know fuel prices can swing wildly depending on where you’re filling up. One week, you’re breaking even and the next, you’re wondering why your fuel surcharge barely covers half the increase at the pump. You could be losing money without realizing it if you’re running lanes where fuel costs are higher than the national average.

   EXAMPLE

   Your trucks mostly run in California, where diesel prices are always higher than the national average. If the surcharge is based on a lower fuel cost, then you’re eating the difference. You need to know when it’s time to adjust rates if you can.

   But if you track this over time and use trucking accounting software to compare surcharge payments to actual fuel expenses, you’ll know when it’s time to adjust rates or shift lanes to something more profitable.

   WHAT YOU CAN DO

   Compare the fuel surcharge with the fuel cost, preferably on a per lane basis. A software system that lets you put fuel surcharge and fuel expense into two separate accounts will easily show you the comparison. If there’s a gap, it might be time to renegotiate rates, adjust routes, or tweak your fuel buying strategy. Frontline Q7 makes this task easier. Instead of sorting through receipts and rate sheets manually, you can import fuel transactions for quick reporting, compare surcharges, and even automate the shipper’s rate defined by the DOE Index. That means no more manual work. As fuel prices change, the rate adjusts. All of this means you’re charging accurately and not leaving money on the table.

    

   Maintenance is the Cost of Keeping the Wheels Turning

   When something breaks it’s never cheap. Whether it’s a simple tire replacement or a major engine overhaul, repairs and maintenance can drain your profits fast if you’re not on top of them.

   Some costs are predictable: oil changes, tire rotations, brake replacements. But a blown turbo, a transmission failure, or even a small issue left unchecked can turn into a five figure repair. Plus, every day your truck is in the shop is a day it’s not making money.

   The best way to control these costs is to prevent them from getting out of hand in the first place. Regular maintenance is the difference between a small repair bill now and a massive one later.

   EXAMPLE

   Replacing a set of brakes on time might cost you $1,500. Waiting too long to take action can mean damaged rotors, extra labor, and a final bill north of $4,000.

   WHAT YOU CAN DO

   Stay ahead of maintenance so it doesn’t turn into a budget blaster. Set up a maintenance schedule and track every service, big or small. That way, you’re not caught off guard when a truck needs work. In addition, you’re not sending trucks that are due for repairs out on loads and risking an even bigger issue. With the right software you can log maintenance records and track repair costs. You can even spot trends that show when a truck is costing you more to fix than it’s worth. Pairing this with your profit reports helps you decide when it’s time to repair or replace.

    

   

    

   Compliance is the Trucking Business Expense You Can’t Ignore

   Compliance is one of those trucking business expenses that you have to stay on top of. If you don’t, the fines and penalties can add up fast. If you miss deadlines or make errors for IFTA, DOT inspections, or Hours of Service logs, it can cost you thousands. Not to mention the headache of dealing with audits and the downtime, which in turn costs you more money.

   Keeping up with compliance isn’t just about avoiding fines. It also keeps your trucks on the road.

   EXAMPLE

   If you’re still tracking IFTA manually, you might be over or under paying taxes without realizing it. A few missed miles or gallons here and there can throw off your fleet’s average mile per gallon, which throws off the entire calculation. This can lead to fines or unexpected bills later, or worse, an audit.

   WHAT YOU CAN DO

   Instead of scrambling to pull together receipts and logs, automate IFTA reporting by tracking fuel purchases and mileage in real-time. Keeping track of documentation within your trucking business software is just one more step you can take.

    

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   At the end of the day, trucking business expenses are something every owner has to tackle. That doesn’t mean they have to be a constant source of stress.

   The right trucking software can help you track costs, streamline your processes, and give you the data you need to make smarter decisions. At Frontline Q7, we’re all about simplifying and providing transparency for your business. Reach out to us today so we can talk about how Q7 trucking accounting software can help you wrap your arms around your trucking business finances.

    

3. Q7 TIPS & TRICKS – CUSTOM TRUCKING SOFTWARE REPORTS

   January 23, 2023 3:54 pm Leave a Comment

   Every trucking company has something unique about them that requires unique reporting tools. That means that custom trucking software reports are crucial. With Frontline Q7, you can have a completely custom report made for you, or you can customize your own!

   Get Into the Editor

   For certain reports, you can get into the editor by clicking the button on the bottom right corner.

   

   Other reports have to be accessed from the Editor tab.

   

   Add a New Label

   Click Here For A Clip>>

   Click the label icon in the toolbar along the top. Click again in the editor, where you want the label to display. Next, change the text of the label.

   

   Add a New Q7 Field

   Click Here For A Clip>>

   Use the DBText icon in the toolbar along the top to bring in a field from Q7. Click into the report where you want it to display. In the upper left corner, use the drop down to choose the Q7 field that you want.

   

   Change Font

   Click Here For A Clip>>

   Use the font tools along the top to change font, color, weight, or font size. Just click the field or label first. You can drag a rectangle around multiple objects to change these properties for all of them at once.

   

   Don’t forget to save your changes! Select File > Save from the upper left corner.

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   This is only the tip of the iceberg!

   Custom trucking software reports are an important part of building your engine. Search for Editing Q7 Reports in the Knowledge Base for more editing techniques that you can try. Custom programming can bring in other fields or make complex calculations. Contact us if you have a request for one of your reports.

   Check out the new Load Profit report for a bird’s eye view of load profitability!

4. Frontline Q7 Support Desk Favorite Tips

   January 24, 2022 9:43 pm Leave a Comment

   No day is ever the same working for Frontline Software Technology, Inc. As a family owned and operated bootstrapped business, we are fortunate to dabble in all of the arts surrounding the trucking and software industries. On Monday, you might be working with database technology. On Tuesday, you are diving into a trucking accounting scenario for a carrier. And then on Wednesday, you are working with the programming department to develop new features that will help the carriers that use Q7. Each day, our support desk responds to a variety of different questions from our carriers (within 15 minutes or less!). This month, we wanted to bring you just a handful of the Frontline Q7 support desk favorite tips from these calls or emails.

   — Updated 04/21/2025 —

    

   1. Main Menu Quick Access & Other Keyboard Shortcuts

   Q7 is a powerful desktop application that runs on the power of your computer or a server, even if you are subscribed to the Cloud service. As a result, you have the ability to open several programs at once. The benefit? You are able to scan your Orders on one half of your monitor and work in dispatch on the other. Or, keep watch on your live reporting tool as you make important accounting entries.

   If you are anything like us, this freedom can sometimes mean your Q7 Main Menu becomes hidden behind other programs. Instead of closing everything and potentially losing your place, just hit F4 to bring the Main Menu to the front. This is our #1 Frontline Q7 support desk favorite tips because of its ability to save you time and clicks.

   All of your open programs are listed in the bottom pane of the Main Menu. Double click on one to pull that program back into view, or use Tab+Enter to pull one of your open programs forward again.

   Because you are not limited to a single shape, you have the flexibility to size and position all Q7 programs the way you want them.

    

   

   Orders, Purchases, and other Finder lists are a great resource. If you are working in an Order or other transaction and need to dig in a little more, don’t waste valuable time on bringing your mouse over. Instead, use F3 on your keyboard to bring the Finder forward, refresh it, and find your cursor in the powerful smart search. After you’ve looked up the next record, just hit Enter to open it.

    

   

   Use your keyboard to take action within the data of a window with smart search. For example, use Enter to clear transactions during reconciliation or apply payment on a customer invoice.

   Click Here For a Clip >>

   BONUS: There are dozens of useful keyboard shortcuts. Find a glossary of hotkeys in the Knowledge Base!

    

   2. View or Add Paperwork During Invoicing

   The normal workflow routine allows for several opportunities to attach paperwork to loads. Certain integrations also allow drivers to remotely attach paperwork. Whether you forgot to do it in-house or you simply want to examine supporting paperwork before billing, you can do that right in the Invoicing window.

   

    

   3. Use Jump-To Links to Move Around

   Q7 is rated consistently as the best trucking accounting software. As a result, we set higher bars for ourselves as the industry evolves. One reason Q7 is so easy to use is the ability to quickly jump from one area to another. Furthermore, this ability extends to all departments – not just accounting.

   Q7 takes advantage of powerful database technology. As a result, it is not incapable of behaving like a website. All Q7 reports include (or can include) links that let you open a record. This includes everything from journal entries to loads to driver pay calculations or settlements.

    

   

   In addition to links found in reports, every record that posts dollar amounts includes a transaction history window. Within this window, you will find the transactions that are linked. For example, on a customer invoice, you will find the payment(s) against it. Double click on the linked transactions to open them.

   NOTE: We take user security seriously. Reach out to the Frontline support desk if you want to learn more about enhancing security. For example, you may want a dispatcher to have access to loads, but not the register that stores the payments against them.

    

   

   Now let’s say you are looking at the customer’s payment. Want to get back to the invoice? The payment is linked to the invoice, so you can simply double click on the invoice!

    

   4. Power of the Dispatch Board Right-Click

   Right-clicking on a Trip row in the Dispatch Board provides you with a robust list of actions, settings, and options. In addition to truckload dispatch tools, find quick access options such as:

   • Jump into driver pay calculations.
   • Access dispatch scenarios using Segment+.
   • Color code drivers or equipment.
   • Check out mobile communication logs.
   • Email, print, or text the load confirmation.
   • Re-position a resource.

   

   See the Dispatch Board Hidden Gems and Dispatch Board Hidden Gems II for more tips related to the board!

    

   5. Quick Set Up for Quick Set Up

   Setting up a new customer, driver, location, or equipment can sometimes mean unknowns. If you are not finding what you need in a drop down list, just click the quick access button. Set up what you need on the fly to save time. As a result, you don’t need to go to a different Setup list.

    

   

    

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   The Frontline Q7 support desk holds itself to high standards. As a trucking software company in business since 1992, we know that carriers don’t want to waste time fiddling with their software, or their software support. That’s why our policy is an ultra fast turnaround time with solutions you can rely on. We aren’t shy either! If we find an opportunity to share a tip with you that will make your lives easier, we will. To learn more about Frontline Q7 trucking software, reach out for a demo today.