Logistics
Accounting for Logistics and Transportation Companies
Accounting and financial planning are crucial for the success of businesses in the logistics and transportation sectors, such as Good Transport and Air Transport companies. These businesses face tough competition while managing multiple clients and vendors, making accurate accounting practices essential for maintaining cash liquidity. Fluctuating oil prices can impact profit margins. Finslog provides outsourced accounting and bookkeeping services tailored for logistics and transportation companies, helping them maintain proper financial records. This enables businesses to adapt their strategies and achieve long-term success.
Accounting Challenges in the Logistics Industry
Timely Reconciliation
Logistics and transportation businesses must reconcile accounts payable and receivable promptly to manage various customers and vendors effectively.
Cash flow management
Logistics companies face cash flow challenges due to invoicing after delivery and payment cycles ranging from 15 to 45 days.
Depreciation Expenditure
Logistics companies must accurately record depreciation on vehicles and warehouses to ensure compliance with accounting standards in financial statements.
Bookkeeping of Reimbursement Expenses
Logistics companies must adhere to proper accounting practices for client reimbursements of government taxes, customs duties, and warehouse charges.
Our Accounting Services for Logistics and Transportation Companies
We have team of professional who are experienced in working with Logistics and Transportation Companies. Get incredible insight into your business with advanced reports. You get real time access to your financials so you can easily understand profit margins and make changes in business strategy. Our services to logistic companies helped them to save on cash management and taxation.
Checklist To Follow
| Checklist to Follow | Time | |
|---|---|---|
| Month End bank Reconciliation | Monthly | |
| Month End Loan account Reconciliation | Monthly | |
| Compare Actuals with budget of same month | Monthly | |
| Review Billable and Non Billable expense | Monthly | |
| Month End Journal Entires | Monthly | |
| Update Vendor Reconciliation | Monthly | |
| Update Petty Cash Balance | Monthly | |
| Raise Alert for Accounts Receivable exceeeding 45 days | Monthly | |
| Payroll Management | Monthly | |
| Monthly Tax payments | Monthly | |
| Monthly Compliances of TDS , GST , IT | Monthly | |
| Month End Reporting | Monthly |
Accounting Reports for Management
Important report generated by Finslog Accounting
✔ Compare Budget vs Actual Expenses & Income
✔ Key Performance Indicators of Business
✔ Monthly Accounts Payable Report
✔ Monthly Accounts Receivable Report
✔ Cash Flow Report
Financial Goals to Logistics and Transportation Companies
✔ Cash Flow Management
✔ Timely Recovery of Accounts Receivable
✔ Timely Payment of Accounts Payable
✔ Proper Documentation of Expense & Reimbursement
✔ Real-Time Financials
✔ Key Performance Indicators
✔ Avail Cash Credit on Timely Payment
Why Choose Us?
Finslog is actively providing outsourced bookkeeping, Accounting , payroll and compliance services to small and medium business and CPA Firms. We will help you to identify the financial rations , indicators and performance readily, helping you to make the right decisions at the right time.
Upto 50% Reduced Cost
Upto 50% reduced cost compared to in-house services. Our service cost is lower due to cheap labour even thou no compromise in quality of services.
Time Zone Advantage
Favorable time zone advantage between India and US ensures high productivity and faster turnaround. We reply to mail within 24 hours.
Data Security
We use secured document management system with high end level of security. Business can rely on our services about documents safety along with Information.
Export Team
We bookkeeping team is combination of Chartered Accountant (CAP) & commerce graduates. We have expertise in bookkeeping & accounting.
Process-driven work
We developed process flow for start to end bookkeeping. We have checklist , formats and proven Project Management system helps to communicate.
Growth Services
Delegation of work helps business to give attention on primary business activities for growth. By outsourcing bank office you focus on Growth.
Quick Connect With Us
Part Time / Full Time
Resources For
✔ CPA Firms
✔ Enrolled Agents
✔ Bookkeeping Firms
✔ Tax Practitioners
✔ Business Owners
Why Finslog is the First Choice
for Accounting & Tax Preparation
Finslog offers expert, cost-effective, and reliable accounting services with a focus on transparency, efficiency, and timely results
✔ Experienced Professionals: Skilled team with years of experience ensures reliable and accurate results.
✔ Efficient Project Management: Self-hosted system enables smooth communication and seamless project handling.
✔ Cost Savings: Save 40-50% compared to local accountants without compromising quality.
✔ Transparent Processes: Clear workflows keep clients fully informed and confident in the outcomes.
✔ Quick Turnaround: Same-day or 24-hour maximum response time for inquiries.
✔ Regular Updates: Frequent email updates provide essential business information and progress reports.
✔ On-the-Go Meetings: Schedule expert meetings anytime for efficient communication.
✔ Meeting Deadlines: We complete work ahead of deadlines to ensure a smooth process.
✔ Comprehensive Checklists: Detailed, well-organized checklists eliminate confusion and ensure thorough coverage.
✔ High Quality Standards: Standardized procedures ensure error-free work and top-quality service.