Logistics Companies

Logistics Industry

Our Expertise

At Harmony Online Ledger, Bookkeeping & Consulting, LLC, we specialize in catering to the unique financial needs of logistics companies. Our expert team understands the intricacies of accounting as they pertain to logistics, ensuring that your financial operations are accurate, efficient, and compliant with all relevant regulations and accounting standards

Our Services

Bookkeeping for Logistics Companies
- Automating financial processes (e.g., linking accounting software to your bank account)
- Categorizing vendor receipts, revenue, and liabilities
- Categorizing credit card transactions
- Categorizing bank transactions
- Financial clean-up of income statements and balance sheets specific to logistics operations

Accounting for Logistics
- Financial statement preparation
- Financial analysis for logistics companies
- Journal entries and reconciliations
- Fixed asset management, including schedule maintenance and depreciation relevant to logistics assets
- Recording loans, prepaid assets, inventory balances, and more, with a focus on logistics needs
- Accounting for insurance expenses
- Accounting for tariffs and shipping expenses

Payroll Management
- Payroll processing for logistics staff
- Payroll recalculation ensuring accuracy before remittance and posting
- Payroll journal entries
- Foreign currency transaction journal entries as needed
- Recording commission expenses and revenues for logistics professionals
- Systems implementation and improvement

Full-Cycle Accounts Payable
- Creating and managing vendor bills in accounting software for logistics services
- Gathering and paying vendor invoices for logistics companies
- Setting up and applying ACH payments to vendors
- Paying vendors, including via checks and ACH
- Accounts payable reconciliation specific to logistics accounting

Full-Cycle Accounts Receivable
- Creating customer invoices in customer accounting software
- Mailing/emailing customer invoices and statements to clients
- Accounts receivable reconciliation with a focus on logistics services
- Recording unearned revenue and applying payments to Accounts receivable bills
- Tracking and presenting aging of accounts receivable reports

Customized Excel Templates for Logistics Operations
- Tracking billable hours to clients

Specialized Services for Logistics Companies
- Organizing chart of accounts specific to logistics operations
- Creating custom financial reports and analyzing business data for logistics companies
- Retirement accounting for logistics professionals
- Developing and tracking KPIs tailored to logistics services
- Managing specialized niche services and ad-hoc assignments for logistics companies
- Tax services, including sales and use tax filings and payments
- Ensuring compliance with all accounting standards
- Understanding and supporting the transportation, warehousing, inventory management, and distribution tracking aspects of your business
- Accurately tracking expenses such as freight charges, fuel costs, warehouse storage fees, labor costs, and customs duties associated with moving goods
- Providing claims management accounting to account for any damage or loss during transportation and managing related insurance claims
- Calculating the true cost of delivery to customers by considering all logistics expenses, enabling accurate pricing strategies
- Generating financial reports that provide insights into key performance indicators (KPIs) like delivery times, cost per shipment, and warehouse utilization
- Purchase order management

Specific Challenges in Logistics Accounting:

Complex Cost Structures: Dealing with fluctuating fuel costs, variable transportation rates, and diverse shipping methods.
Large Transaction Volumes: Managing a high number of individual shipments and related invoices.
Cross-Border Transactions: Accounting for international regulations and currency fluctuations when operating in multiple countries.
Familiarity with Shipping Terms: Ensuring all logistics and shipping terminology is accurately understood and applied in financial operations.

Our Approach

We serve every type of logistics professional in every industry and field, understanding the unique challenges and requirements each one faces. We understand the value of your time and are committed to providing timely and accurate information to support your logistics company's financial health. We are your partner every step of the way, offering personalized support and tailored solutions to help you focus on serving your clients.

Harmony Online Ledger, Bookkeeping & Consulting

Together in Harmony

Logistics Industry

Our Expertise

Our Services

Our Approach