Managing financial accounts of any company is a complex process, especially if the company branches are spread across geographical boundaries. This process becomes ever more complex in the transportation and logistics industry. Here there is a high chance of manual errors creeping in while entering the freight invoice details. The overall income and expenses should be tallied automatically on a button click and there should be a provision to capture the complete order details without any errors. Pending approvals on expenses and trip invoices should be alerted accordingly. Incorrect payment transactions should be identified, and invoice management should be streamlined accordingly. Implementing efficient logistics accounting software is extremely important for logistics and transport companies.
For transportation and logistics service providers, freight charges are not only based on contracts or location. There may be brokerage or other hidden charges that should be recorded correctly in order to have a smooth financial operation. Also, a good logistics accounting software should be highly flexible and should align with operational & process changes. Proper approval systems and master configurations like tariffs will ensure there is no headaches due to the data entry mistakes from the employees.
Ripples-FMS Logistics accounting software module
- Cash Transfers & Voucher Entry
- Trial Balance & Balance Sheet
- Profit & Loss Reports.
- Ledger wise and Cash Book Reports
- Easy Multi-Currency Switch
- API integrations with third party applications
- Automatic emails alerts about cash flows and cash balances