If you run a tow truck business, there are a ton of things going on at any given time. It’s easy to get swept away with the daily rush of calls, tow truck issues, and so on. While having a towing business is rewarding work, it’s also hard work. One thing that might be falling by the wayside is bookkeeping. Since you’ve got plenty to worry about already, it’s important to make your bookkeeping as easy as possible. Keeping track of numbers and such might not sound like fun, which is why we’ve got some tips to make your bookkeeping as easy as possible.
3 bookkeeping tips for your towing business
1. Think about using accounting software.
The “cloud” might seem like some very strange, intangible thing, but it can be very useful. You can try using cloud-based accounting software for your towing business to make your life easier. A lot of these softwares are meant for small business owners who aren’t accounting pros, so they’re designed to be easy to use and operate. And if you need help, that should be available, too.
Having a cloud-based accounting software can help you save time because it keeps everything organized in one place. And even better, you can probably find a software that works for you without having to break the bank. Since everything is stored in the cloud, you can access it from wherever you are. You’ll be living in the cloud.
There are a lot of options for accounting software out there, so check out different choices and figure out which one will work best for your towing business. And don’t forget to make sure that the software will keep your information secure and protected – you don’t want your information to get swiped by a hacker.
Anyways – you have to seriously consider if this will be a viable option for your business. You may or may not want to use accounting software versus having a bookkeeping professional.
2. Stay organized and follow the money.
Okay. This one might seem like a no-brainer, but it’s really important. You’ve got to keep track of the money that’s coming into your business and the money that’s going out of your business. You’ve got to keep tabs on things like transactions and accounts receivable. It’s easy to get swept away with the million and one other things you have to do, but you have to be careful when it comes to recording where the money’s going. Don’t forget to keep everything organized so that it’s easy to understand and follow when you’re going through your records. While doing the equivalent of throwing everything into a junk drawer might seem tempting, you’ll thank yourself if you have everything neat and clear when you need it. It’s not exactly helpful if you’re struggling to find things or decipher things.
3. Be ready for tax season.
Somehow tax season sneaks up on us. It comes at the same time every year, but somehow it always comes down to crunch time before taxes have to get done. You can really give yourself a hand by getting your ducks in a row ahead of time and having your accounts in order ahead of time. You can save yourself a lot of stress this way – and who doesn’t want to avoid a little stress? You already work in a stressful enough field. If you’re going to get some help from an accountant, make sure that you choose one that’s trustworthy, reputable, and understands the towing industry.
Tow truck insurance can be a major expense for towing businesses, but we’re here to help. We know that insurance rates are not your favorite thing to think about, but we want to help you get great coverage for a great rate. Our team of transportation insurance professionals is ready to help you with your tow truck insurance by getting to know you and your business, then getting multiple quotes for your insurance. Get started with your tow truck insurance quotes by filling out our online quote form, giving us a call, or messaging us on LiveChat.