Do you love working in the freight forwarding industry but hate when it’s time to start doing your books? I can’t think of too many people who would enjoy that, especially in the freight forwarding business. So why not let accounting software do it for you?
How exactly can freight forwarding accounting software help your business?
It can save you from having to do it yourself and save you money from hiring someone to do it for you. Accounting software also helps streamline your business and maximizes your profits.
Listed above are just a few of the benefits that can come from using freight forwarding software. If you want to know more and are interested in its’ other benefits, continue reading below.
What is Freight Forwarding Accounting Software?
Freight forwarding software assists with customer invoicing, check writing, financial statements, and accounts receivables and collections. It enables businesses to have the high accounting standards that they need to succeed. When working with companies worldwide, it can be challenging to keep track of all of the invoices and figure out actual profit analysis.
How Can Freight Forwarding Accounting Software Help My Business?
Maximizing your revenue – does this by giving you access to the most technologically advanced accounting software available. It allows you to recognize areas in your business where you can increase efficiency and helps you see areas that could be an improvement.
Duty drawback – The software keeps track of all of the duties you’ve paid, and if you are due any refunds, the accounting software has the records to help back up your claim.
Profit & Loss statement – this is one of the most critical aspects of your business. The profit and loss statement lets you know the overall health of your business and where you stand financially. It provides granular analysis of your financials and helps identify areas of potential revenue.
Automated invoicing – Accounting software automatically helps determine freight rates and charges that are easily missed by individuals who need to be applied to customer accounts. It is able to create invoices that are accurate and eliminate most errors.
Transparency – Software that is kept in the cloud allows freight forwarders to give their customers access to their shipments, so they are able to track them throughout the process. Having this level of security gives customers confidence, and they are willing to pay more for that peace of mind.
Templates – instead of creating new invoices for each shipment or type of freight, accounting software lets you use templates. This helps with repeat customers who typically use the same flight, route, or tradeline, helping speed up the process and paying invoices quicker.
Accounts Receivable and Collections – The accounting software keeps track of the money owed to you and those who are past due. It sends out invoices at the time they are due and reminders to those that are past due.
General Ledger – G/L capabilities are the universal Generally Accepted Accounting Principles (GAAP) and have to be used in order to analyze financial performance. Accounting Software for freight forwarders must have the ability to analyze financial performance. A well-designed ledger will help the business gain insight into their companies finances to help them create more profit and find ways to grow.
Compliance – Freight forwarding companies must comply with regulatory requirements there are some of these that can be automated when account-related. One of the areas that can be automated is duty paying. This helps freight to arrive quicker and lets you get paid sooner.
Multi-Divisional Accounting – Accounting software helps establish divisions and fine-tunes cost analysis across the board. Managers will now have access to accounting and operations, allowing them to have more insight into what’s going on.
Account-Trak for Freight Forwarders
Freight forwarding accounting software helps companies keep up with ever-changing technology and allows them to find more effective ways to run their company and increase profits. Accounting software such as Account-Trak is specifically designed to work with your operational transportation management system so that you eliminate the pitfalls of accounting integration.
If you are looking to make things easier, more efficient as well as increase revenues and productivity, CSA Software has exactly what you need. We have been developing cloud-based software for freight forwarders around the globe for over 30 years.
Our freight forwarding products include Account Trak (operational TMS), Web-Trak (shipment management portal), LTL Trak (software for LTL shipments), WMS-Trak (warehouse management software), and EDI (electronic connectivity) services. In addition, we offer comprehensive custom software solutions to handle special requests and customer specific requirements! Please contact us today, for your Free software Demo!