How to Use The Broker Statement Auditor                        SYSTEM REPORTS


Jan 2017

Truckers today can do their own bookkeeping and save money without any prior bookkeeping or software experience.  All they need is the right bookkeeping software and the desire to cut cost.

As a result of the ever emerging communications technology and tools, stop a group of truckers today anywhere and ask them what type of technology tools they use at home and in the truck while on the road. You will find that they are all connected in some way.

Some will have a laptop computer in the truck that they use for surfing load boards for backhaul loads or to make other trucking related connections such as finding a good mechanic if something happens that must be repaired during the trip.

The fact is some will have a laptop computer, some will have a tablet, some will have a smart phone and some will have all of the above, plus a PC at home.

So if truckers are carrying these business tools, why not use these tools to keep a record of expenses while on the road using the right easy to use software instead of folding the invoices and receipts received and placing them in a bag, briefcase or in their pocket to be stored in a file cabinet when they get back to home base to be packaged and sent to their accountant at month end or quarter end.

Today with the right bookkeeping software, truckers can easily keep track of the expenses incurred on the road, by simply entering the incomes and expenses into the right bookkeeping software installed on their computer or tablet and let the bookkeeping software do the bookkeeping and produce operating results numbers that will allow them to always known their numbers.

If truckers step up and begin doing this, they will be moving the idea of truckers bookkeeping from a bunch of receipts in an envelope getting ready to be sent to an accountant or bookkeeper across town or across the country, to becoming a small business trucking owner operator that know the numbers and provide these to their accountant or bookkeeper on a monthly or quarterly basis as professional operating results data and reports instead of paper.

Ask most accountants today with professional designations if they like providing bookkeeping service to truckers and they will give you the same answer. We prefer not to do truckers.

Reason; they are hard to work for and with. We do not have the resources to prepare the paper invoices and receipts truckers send us in an envelope or shoe box so as to do their books.

Working for truckers is super time consuming. First we must unfold and straighten the receipts and invoices they send us in order to prepare the documents for processing. Some of the receipts received are crumbled like garbage which we must straighten so as to be able to read what it is for and the expense amount, before we can begin to do the bookkeeping information processing and data entry which is what we have charged them our fee to do.

The bookkeeping for trucker’s task requires us to prepare the documents for processing and then sort them into chart-of-account categories so as to generate a set of meaningful operating results financial reports for the business that will be easy for the trucker to understand.

This type of work requirement in order to do the bookkeeping for truckers discourages most accountants and bookkeepers from wanting to provide bookkeeping and tax services to truckers.

Yet it is so simple. Truckers today can get out from under this cloud by simply using their computer, tablet or smart phone with the right bookkeeping management software installed to do their own bookkeeping data entry so as to provide their service providers with data instead of paper.

Another reason why truckers should embrace the idea, is being able to maximize their tax deductions by not missing any expense because the receipt faded and could not be used or got lost from being stored in their pocket or in the truck.  In addition, moving from the envelope or shoebox mailing or courier system eliminates the potential of the source documents being lost in transit or the bookkeeper misplacing the documents or retired suddenly.

Talk to any accountant or bookkeeper today about bookkeeping service fees and truckers and they all agree that if the truckers provide the bookkeeping information as data instead of paper the bookkeeping fees would be significantly lower depending on if they need quarterly tax filings. 

However, even if they did need quarterly tax filings, the total annual fee excluding year-end accounting and tax preparation and filings would be significantly less.

So why are trucker’s not taking advantage of this opportunity to save money at the bottom-line? 

To cut cost and save money in trucking today, truckers have no control over rates, no control over diesel fuel cost and no control over fixed costs such as truck insurance, truck or trailer lease, or equipment financing charges.

Even the variable cost is out of the control of truckers.  These are all operating expenses, so the area that truckers do have some control over how much they must pay, is in the bookkeeping service fee area.  Here again why this variable expense can be controlled by truckers is based on how they provide the bookkeeping information to their accountant or bookkeeper.

Just thing about. It is estimated that the annual fee for bookkeeping and tax services today for a trucker with one truck operating as a corporation, is about $2000 per year and higher.  The Bookkeeping portion could be about $1200.00 or $100.00 per month with the year-end fee portion being $800.00 or much more depending on the service provider and the size of the company or number of trucks.

If a trucker doing his or her bookkeeping was able to cut their Bookkeeping service cost by $1000 per year and invested that $1000 into an RRSP or for a US trucker into an IRA, the $1000.00 for Canadian trucker would help to lower their personal tax plus add to their retirement nest egg as funds they can cash in at a lower tax rate and potentially pay zero tax, depending on the amount of their pension.

So the question for truckers should be how to find the right software?

Truckers looking for the right software should look for an easy to use software.

They should look for a software that does not require them to do any type of formatting or totalling

They should not have to spend time learning the software. It should be simple as 1, 2, 3.

Truckers should look for a software that will provide them with live online support that will help them develop their software bookkeeping skills.

The right software must have an available support consultant that knows the bookkeeping for trucker’s business process who will be able to walk them through how to enter information and use the software and all its features and reports.

The support should be available Monday through to Saturday.  This way, truckers can call the support from anywhere and get professional, live help on using the software. 

The right software will provide truckers with an easy to follow tutorial as well as software bookkeeping help as required to help truckers transition from pocket and envelope bookkeeping to doing their own bookkeeping and being able to access and print their own bank presentation ready financial reports without having to call their accountant or bookkeeper for help and having to pay for the service.

We have searched the industry and the best there is today for truckers that meets all of the  criteria for being the right bookkeeping software for truckers is, TruckersBooks Software.  

However, don’t just take my word and recommendation, go to their online demo tutorial and take a test drive by perusing the demo and all of the available reports.

Go to and click the truckersbooks demo tutorial image link.

The year is still young, there is still time to start saving money off your bookkeeping service fee that you will be able to deposit to your RRSP or IRA.  So take the first step by taking a tour of the software demo.

You can also go straight to the demo tutorial start page by clicking one of the links below:

Canadian Truckers demo-tutorial link.

US Truckers Demo Tutorial Link



December 2015

Why truckers need to do year-end tax planning?

To reduce their tax payable by creatively applying tax planning strategies, or even causing the trucker to pay Zero tax.  However this cannot be done after the business bookkeeping year-end.  This must be done prior to the business year-end.

As an example, If the business year-end is December 31, 2014, tax planning needs to be done before or by the last day of the year so as to know the numbers at the bottom-line before the year-end and know your estimated tax payable amount and whether you need to, or can the tax payable amount be reduced or eliminated to ZERO. 

However, it has been our experience that most truckers are not willing to manage their bookkeeping on a monthly or quarterly basis, preferring to store their business operating documents and information and send them to their accountant or bookkeeper once each year in envelopes or storage boxes.   

This group will continue to pay more taxes than they should, but that is the price of neglect. With today’s available technology, there is just no reason to pay more tax than you should due to hanging on to the old ways of bookkeeping and getting your taxes done.  

The exception are truckers who are required to file quarterly GST/HST returns or in the case of US truckers, need to file quarterly estimated self-employment tax returns.  

However, since in some cases accountants and bookkeepers will charge an additional fee for tax planning services, most truckers do not even ask for this service and continue being a good easy source for more taxes by CRA and the IRS.  

Yet this is a solvable problem.

Truckers who would like to pay less tax or even Zero tax, must get serious about the bookkeeping side of their business so as to take advantage of two tax planning sessions per year with their accountant.

The first session

This should be in October using the operating result numbers for January to September to do a year-end tax liability projection so that in late October or November they would have an estimated idea of the potential tax they will have to pay.  

This tax planning projection would give them the opportunity to make decisions with the help of their accountant or bookkeeper to lowering the estimated tax payable amount before year-end.  

The Second Session.

This will be the year-end tax planning which depending on the results from the third quarter tax liability tax planning projection, could be in December, to review the December operating results and what impact or difference is reflected that may need consideration.  

Finally, at tax time during the actual preparation of the applicable tax returns, tax planning here will look for qualified income splitting or differed income or expense opportunities and more.  

Truckers bookkeeping management includes a wide range of tax deductible operating expenses that truckers receive in paper format or as deductions on their broker statements and bank statements.  

As a result, it is sometimes easy for some tax deductible expenses to get missed by truckers as well as their accountants and bookkeepers due to truckers not being able to provide the source document or due to the timing by which they receive their broker statement showing these expenses causing these expenses to be reported in the next business year.  

Now, we agree that these events do not necessarily lose truckers the tax deduction.

However, here is the problem.  Tax planning opportunity was lost since the deduction was not available to be recognized during year-end tax planning.  If it was, it could have reduced the tax payable on the current year tax return.  For tax planning to work, truckers must change how they manage their books.   

Not wishing to be biased, but my recommendation is that truckers move from the old system of bookkeeping source document storage, to using a bookkeeping software that allows them to know their numbers on a monthly basis and have the opportunity to provide their bookkeeping service provider with operating results financial reports  on a monthly or quarterly basis.  

This way, it will be easy to make tax planning happen as well as reduce their bookkeeping service cost, since their service provider will welcome the opportunity to provide the required services without having to prepare, sort and process the paper documents generated by truckers on a monthly basis.  

However, if we are talking about software, I must recommend TruckersBooks software. A true customized for truckers bookkeeping management system that gives truckers the opportunity to easily bring their bookkeeping management system to a professional level and make tax planning an ongoing no-hassle business process.  

Here is hoping that 2014 was a good year and wishing you a super successful and highly profitable 2015 and the opportunity to keep more of the business profits with good bookkeeping management and tax planning.

October 2014

Press Release

TruckersBooks Software launches Version-8 with an easy-to-use Broker Statement bookkeeping data capture and driver settlement auditor and analysis feature.  


TruckersBooks Software Broker Statement Bookkeeping feature is designed to make it easy for truckers to understand the numbers on their Broker Statement and convert these to Bookkeeping Data by simply entering the numbers from the broker statement received into the TruckersBookis Broker Statement Worksheet.

This feature will make it easier for truckers to understand the income and deductions numbers on their broker statement, as well as the accuracy of the driver pay amount without the need for any prior bookkeeping experience or having to get help from their accountant/bookkeeper.

How It Works

As truckers enter the income and deductions from their broker statement, the system automatically create a set of operating result financials and analysis, including Net Driver/Owner-Operator Pay settlement verification to allow truckers to easily know their earnings from trucking numbers, including income per kilometer/miles, cost per kilometer/miles and pre-tax profit per kilometer/miles.

This software will allow truckers without any bookkeeping experience have monthly financial reports they can take to the bank. The reports include: Profit/loss Statement, a Cash flow report and a month-end management report they can send to their accountant.

With this software, truckers will save money.  They will be able to CUT their bookkeeping service cost by being able to send their accountant/bookkeeper DATA Instead of PAPER for processing.

To give truckers control of the bookkeeping side of trucking, the software generates a tax filing ready report. For Canadian Truckers, a GST/HST Net-Filing ready report

This will allow them to easily file their own quarterly GST Returns or simply send the report to their accountant or bookkeeper to file.  For US Truckers the software generates a set of month end reports including a tax filing ready Estimated Self-employment tax report

About TruckersBooks

We are a leading provider of customized bookkeeping management software for truckers that allows them to cut their bookkeeping service cost and save money by taking control of the bookkeeping side of trucking, know the numbers and reduce their tax payable without any bookkeeping experience.

- 30 -

September 2014

Truckers are losing Tax deductions due to faded Diesel Fuel and Meals receipts

This means paying more tax

  Most truckers will purchase Diesel Fuel, 2-3 times per week depending on the type of trucking they do. Each Diesel Fuel purchase averages between $300.00 to $800.00 or much more on each purchase where you receive those small cash register receipts for your records.

  Here is the problem. If we use the $800.00 as the average and 3-times per week fuel purchases for this discussion it means that this trucker would have received twelve (12) of these small receipts after a month of trucking.

  If three (3) of these have faded by tax time and cannot be used and the average receipt value was $800.00 that will represent an expense deduction loss of $28,000.00.  This will cause you to pay more taxes as your business pre-tax profit will be inflated resulting in a higher tax payable .

  I am sure some truckers lose even more.  As you can see you could be paying more tax than you should and that is not a reflection on your accountant or bookkeeper.  It is just what happens when expense receipts are not deducted as part of your business operating expenses.

 You could also be losing money from not being able to claim the refundable GST amounts that you paid on the goods and services you purchased in Canada where the receipts are blank.

To read more about the small receipt system go to  

You can CLICK HERE to go to the Diesel Fuel and Meals Receipt Management System Menu 

So if truckers begin managing the small receipts obtained on the road for meals purchases and Diesel fuel purchases they will be able to cut the tax deduction loss from lost or faded small receipts.

Your accountant or bookkeeper may have already told you that these small cash register receipts fade fast and in most cases are unusable.  If your accountant or bookkeeper can’t read the receipt amount it cannot be claimed as an expense.  If it is blank, like most of these receipt, after a few days or weeks it is a lost business expense deduction for you.

The best way to stop this expense deduction loss is to file these receipts in your bookkeeping system as received or within a week.  Plus, where possible do not place these in your pocket they will fade even faster. 

This problem can be easily solved with the TruckersBooks system. You would simply enter the receipt total from the bottom-line. That’s it.

For Canadian truckers it is even more important to have a system of managing and safe guarding the expense amounts on these receipts. Diesel fuel receipts acquired by Canadian truckers contribute much to their GST returns filed and the amount of your refund claimed.  As a result, these returns are audited regularly by CRA.

Truckers can eliminate the potential for loss refunds by filing their diesel fuel receipts online using the TruckersBooks diesel fuel management and reporting system.

This online diesel fuel management system provided by TruckersBooks, is an easy-to-use diesel fuel expense filing and recording system.  Because it is online, truckers can use it from anywhere in Canada or the United States, without any experience, to capture the Diesel fuel and Meals receipt expenses

This online system allows truckers to enter the information from the receipts and click submit and the system sends them an email report verification of the expenses entered with instructions to attach the receipts to the report and file it in their business papers filing system. 

This way, in the event of an audit, truckers using the online system will have a dated audit support report that the auditor can review and feel confident of the information integrity.  This way, even if a few receipts are faded by the time of your next tax audit, you will have a smooth sailing in this area.



truckers today can cut service cost and reduce their annual tax payable by taking control of the bookkeeping-side of trucking and knowing the numbers

It is time for truckers to take steps to be in control of the bookkeeping side of the business so as to lower the tax payable and save money by cutting their bookkeeping service cost.

Truckers can easily do this without any prior bookkeeping experience, using customized for truckers bookkeeping management software like TruckersBooks. This software will allow truckers without any bookkeeping experience to take over the management of the bookkeeping-side of trucking and know their numbers by having a set of professional financial reports on a monthly basis they can take to the bank.

The good news!  TruckersBooks is the leading easy-to-use bookkeeping management software for truckers today. The software was developed for Canadian Truckers by TruckersBooks, a Canadian Truckers Bookkeeping Management and Support services company.

With this customized for truckers software truckers will be able to easily get organized and in control of the bookkeeping process.  Here is why!  With the TruckersBooks software, all  that a trucker needs to do is to enter the business income and expenses in CUSTOMIZED expense columns and the system does the bookkeeping and creates a set of professional financial reports ready for the bank, if required.

This means that truckers will be able to eliminate the shoebox and envelope bookkeeping and have a set of meaningful financial reports on a monthly basis while eliminating the need to pack and ship their business paper documents to an accountant or bookkeeper across the city or across the country.

With the TruckersBooks software as your bookkeeping management tool, you will be in charge. You will be able to send your accountant or bookkeeper your bookkeeping information for quarterly tax filings and year-end tax reporting, as Data Instead of Paper.

This means that your accountant or bookkeeper, will no longer have to sort, classify and data enter your information and receipts into their bookkeeping system in order to provide the required tax services.

Instead, you will simply send them one or more of the financial reports generated by the TruckersBooks system that meets their bookkeeping and tax information needs.  This will significantly reduce their time and cost to prepare and file your GST/HOST returns on a quarterly basis.  

Similarly, for year-end tax reporting, you will be able to provide your accountant or bookkeeper with financial reports including balance sheet required data for use in the preparation of your year-end corporate and/or personal tax returns.

The bookkeeping management reports generate by the TruckersBooks system monthly includes:

Profit-Loss statement  (Canadian Funds)

Profit-Loss US/Canadian Report  (This report gives the US cost numbers and more)

Cash Flow Report

GST/HOST Net-File Ready report.

Truckers can use this report to file their return, or send it to their bookkeeping to file

To view samples of the system reports go to:

IFTA summary report.

     For Canadian truckers running US, this report will lower your IFTA required paperwork. What the TruckersBooks system does, is allow truckers entering Diesel fuel, to also enter Kilometer/Mile and travel jurisdiction and other IFTA related information and the system will automatically create driver trip report and IFTA summary that they can print and provide to Carrier managers or their IFTA service provider in report format instead of a bunch of trip reports.

The Month-end Accountant Report.

    This is the report you will be able to print and send to your accountant or bookkeeper on a monthly basis that will meet their tax filing needs.

Document management and Tax audit report.

    This report links all the information you entered into a unique audit review system for auditors and your accountant.  This is the report you would print at the end of each month and attach to the source documents, invoices and receipts  from which you took the income and expense information that you entered for the month and file this is your document storage for future audit system.

To read more about the TruckersBooks software system and how it works, go to and request a review demo copy of the software to see how easy it will be for you to bring the bookkeeping-side of your business home and begin without any bookkeeping experience, to manage the bookkeeping process from your truck or from your home office.

You can also go to their reports information page at:  to read more about the reports and view samples of some of the key bookkeeping management reports.

With these reports, you will be in control of the business information and the bookkeeping side of your business.  It also means you will be saving money by cutting your bookkeeping service cost.  The good news is your accountant and bookkeeper will love you for being able to send them data instead of paper and will gladly reduce or eliminate the fees they would charge you for bookkeeping service. 

You will also be helping them do more with less people resources by eliminating the bookkeeping preparation and data entry work they were doing for you by moving to providing tax services instead.


JULY 2014

Save money by taking control. You can do it.  No Bookkeeping experience required

It is time for truckers to start using the available business-side of trucking management tools to take control of the bookkeeping-side of trucking, the same way they take control of the management of the trucking equipment and the maintenance side of keeping their trucks run-ready. 

So take charge and add knowing your numbers as being as important as keeping your trucks run-ready. You can always lease or buy another truck, but if you do not look at cutting cost and making sure that all deductible expenses are deducted you will lose the true benefit for being in business for yourself.

In Addition, getting in control of the bookkeeping-side of the trucking business will make it less frightening when you have been audited.  Here is why!  Auditors today audit your books and raise an assessment and you have very little time before the assessed amount is in their collection department.

Their collections officers also move fast.  They let you know that they need payment now.  If you explain that you feel that the assessed amount is incorrect, they will advise you that you can file an objection, but in the mean time you must pay the amount assessment and if you are successful, the amount paid including any interest and penalties charged will be refunded. 

The collection officers will also advise you that if the payment is not made within a specified time they will take legal action.  Legal action means seizure of your bank account and a demand issued to your carrier to pay any and all income earned by you going forward to CRA until the amount is paid.

Keep in mind that most of the audits of truckers are focused on GST/HOST returns filed.

To challenge these audits and get the assessments reversed you will need to have a GST/HOST bookkeeping management system that can easily produce detailed easy to review reports such as the following:

     GST/HOST paid by expense category that will balance to the GST return filed.

     You must be able to produce the related invoices as copies or originals

Pay close attention to the province where you made the purchase and that the correct
   GST/HOST rate was applied in calculating the refundable GST.

The good news!  These audit management features are built into the TruckersBooks software to help make your next tax audit hassle-free, as well as make it relatively easy for you or your accountant to challenge an after audit tax assessment fast before their collections department start calling you.


About the software

TruckersBooks software was developed by TruckersBooks Inc., in February 2012 and launched in may 2012. 

The software is currently being used successfully by truckers in Canada and the United States.

The program developers are truckers bookkeeping accountants with over 30 years experience providing bookkeeping and tax services to truckers. 

More about the software is available on the website at and on YouTube.

TruckersBooks user Group Support

To help truckers using the TruckersBooks software grow their confidence and acquire related knowledge and support as they manage the bookkeeping side of their business, TruckersBooks will be hosting and conducting a series of seminars this summer that will help build the bookkeeping and business management confidence of truckers, To read more about the seminar go to:


Truckers who take control of the bookkeeping side of trucking will save money

Its Time for Truckers to move their business into the new and ever evolving business enhanced technology environment and begin taking control of the bookkeeping side of trucking, so as to know their numbers on a monthly and quarterly basis without having to pay an accountant or bookkeeper to supply this information.

The trucking industry has embraced technology and the benefits it brings to the business of trucking. 

However, the primary service providers, Truckers, also referred to as Brokers that risk everything to purchase or lease a truck valued at up to $150,000 or more, to truck across Canada and the United States hauling loads for their Carries or clients, are resisting the importance of bringing technology to their business.

In an industry where the buzz words are “Smartphone”, “Cloud Computing”, “Online Bookkeeping” “Tablets” and even Laptop computers, most truckers are still running their business from document storage boxes and mailing envelopes and as a result don’t know their numbers.


APRIL 2014

WHY IS Knowing the numbers is being left up to accountant or bookkeeper BY TRUCKERS?

It is time for truckers to get involved in the bookkeeping-side of trucking which is the driver to the business and start using technology and the customized for truckers business tools in the industry that will give them business-side of trucking management power. 

Too many Truckers still run their business by stuffing all of their business documents into an envelope or shoe box and send it to a bookkeeper or accountant across town or across the country to have the information processed into bookkeeping data and create the required financial reports to handle the applicable tax compliance filings.

With today's available technology and the availability of customized software, truckers should step-up to the plate and become engaged managers and owner-operators of a trucking business, instead of seeing themselves as a trucker.

It is a fact that trucking for the owner operator trucker is no walk in the park business or profession.

Most truckers begin the day at 2am-3am each day to get loaded and on the road to their first delivery trip for the day.  The same trucker is required to manage a flood of paperwork including trip reports, driver logs and other carrier specific paperwork.

So we know that.  However, truckers will note that the carriers they haul for have embraced the use of technology and truckers should do the same.  It is not ever going to go away.

In the area of bookkeeping management, there are easy-to use customized for truckers bookkeeping management systems available today that will allow truckers to use down-time and waiting time to update their bookkeeping information from anywhere using a laptop computer or Smartphone. 

It is time for truckers to stop the madness.

Get involved in the business of trucking – Know your numbers

Know how much profit you are making each month

Know your monthly Cash Flow numbers

Know your profit per load numbers.  If your are independent or hauling back-hauls.

     It is good to know the numbers before you backup to the loading dock.

You need to know if the loads you haul are really profitable or are they costing you money

Stop the packaging and shipping of bookkeeping information to service providers – what if the documents got lost and you are audited.  The tax department will not consider the lost document as a reason to give you a pass for an audit they have scheduled where you are unable to provide proof in the form of copies of original source documents.

Here is the big one to consider.  What if the bookkeeper died. It is possible.  Accidents, heart attacks and any number of other things can happen.  Although we hope they never do, but that we also know is naivety. The only way for you to always have control over your original source documents, is to never send them to an outside bookkeeper or accountant.

Send them data instead of paper, or send them copies.

The next step however is, how to keep the originals save and audit ready. Get involved with Cloud Server document storage, that will have a copy of your original source document and allow you to easily access and print copies of any document stored in the cloud at any time, without having to call your accountant or bookkeeper.

Keep in mind that the auditors are coming.  That is a fact and they are currently conducting a higher number of audits on truckers that on other small business companies. 

The reason!  They have developed the idea that truckers do not normally have easy to audit files and records, so to easily raise a good size assessment truckers are good pigeons.

It is time for truckers to get involved in the process and change the way they work with and interact with their bookkeeping and tax service providers. Begin now sending your bookkeeper or accountant data instead of paper.  They will love that and will charge you less for their services.

The interesting thing about embracing the bookkeeping technology is the fact that it will allow you to send your bookkeeping and tax services provider data instead of paper, which they will enjoy and prefer which will motivate them to charge you less for their services.

In addition, to take being in control of the bookkeeping side of trucking to the next level, start using your computer to know your numbers. There are easy-to-use software in the market that will help you do this.  This way, you could have your bookkeeping management system on your laptop computer in the truck with you as well as on your home computer if they are different.

The bottom-line!  All of the tools that will help you take control of the management of the bookkeeping-side of trucking are tax deductible. 

So join the trucking take control of the business-side of trucking revolution, get to really know your bookkeeping-side of trucking numbers and drive more profits you business bottom-line.