How Having an Excellent Accounting Module in Your Freight Forwarding Software Helps Your Business
Staff Content Writer
December 13, 2022 • 5 minutes read
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GoFreight provides a perfect centralized freight forwarding solution for your business. Being in the freight forwarding industry is both challenging and enjoyable. However, things become cumbersome when it is time to do the books. That is where an excellent accounting module integrated into your freight forwarding software comes in. Though clients point out the unprecedented visibility and ease with which we enable them to keep track of their shipments, GoFreight also provides an excellent accounting module that streamlines your business’s financial aspects.
What Does an Accounting Module in Your Freight Forwarding Software Do?
The accounting module in your freight forwarding software helps facilitate customer invoicing and helps compile financial statements, collections, and accounts receivables more easily. It boosts your business’s ability to maintain the high accounting standards needed to succeed. By maximizing today’s cloud-based technology, you can easily reconcile the financial flow of your operations worldwide, such as settling your overseas agents’ fees and the resulting profits.
How Does GoFreight’s Accounting Module Enable Your Business To Do This?
GoFreight’s accounting module is a feature integrated into your freight-forwarding software right out of the box. This full-featured function efficiently manages invoices on your bills of lading, settles fees with your overseas agents, and can easily be synced to your current accounting system, whether you are using QuickBooks or your legacy systems.
- Sync with Current Accounting Software and Systems
QuickBooks is an essential part of invoicing for many businesses. Many accountants and bookkeepers are already deeply familiar with this software, regardless of industry. In the case of freight forwarding, this is one of the most widely-used accounting software types today. GoFreight’s accounting module can easily sync with QuickBooks, enabling you to enjoy its full features quickly. Moreover, GoFreight’s accounting module is user-friendly. If you have employees who are just beginning to learn to use technology for their work, GoFreight’s freight forwarding software, and its accounting module, are easy to get used to.
- Simple Invoice Management With Clear HB/L MB/L Structure
Most accounting software is not as clearly linked to the shipment management system as GoFreight’s. With GoFreight’s accounting feature set, your shipment management system is clearly linked through a clear HB/L and MB/L structure. This way, you can quickly locate corresponding invoices based on invoice parties, shipments, or related bank accounts.
- Easily Settles Overseas Agent Fees
The Debit-Credit Note function is interlinked seamlessly with the accounting module. This design enables you to settle fees with your overseas agent quickly. Moreover, you can view the profits easily as well. This section updates all APs/ARs for the same overseas agent as you edit the invoices. Because it is cloud-based, you don’t have to worry about doing this task with your overseas agents wherever they are in the world.
- Auto-Generated Reports for Quick Bank Reconciliation
Running standard account reports based on criteria, such as payment types, bank accounts, and dates, with the GoFreight accounting software is straightforward. You can also access auto-generated statements of accounts, aging reports, income statements, balance sheets, and others with just a few clicks.
- Your Accounting Software Is Constantly Updated To Meet the Demands of the Industry
GoFreight’s freight forwarding software is designed by people who worked in the industry. We know the challenges of the business, and we listen to our clients to ensure that they always get the best solutions available. Your accounting module and the rest of GoFreight’s freight forwarding software are constantly updated to keep up with the demands of the industry. With GoFreight’s software, you will get features that most accounting software overlooks.
How Can GoFreight’s Accounting Module Help Your Business?
The list below includes just a few of the benefits and results that the accounting module can provide your business:
- Profit and Loss Statement: Your profit and loss statement is one of the most critical aspects of your business because it shows your business’s health by reporting where it stands financially. By generating a profit and loss statement quickly, you can have a granular analysis of your business’s well-being, identifying opportunities to gain more revenue.
- Maximizing Revenue: Aside from providing the profit and loss statement quickly, streamlining the financial aspects of your business can help you see more opportunities to maximize your revenues in other areas. For instance, by visiting the financial performance of your overseas agents, you can optimize how you do business with them quickly.
- Automated Invoicing: Freight charges and rates should be visible to employees dealing with individual customer accounts. By automating your invoicing, you can accurately create invoices and eliminate most errors.
- Accounts Receivables and Collections: Another aspect of your business that employees may overlook tracking of all the money owed to you. Your accounting module can help you send invoices on their respective due dates and reminders for fees past their dues.
- Make All Your Divisions Accountable: You can set user privileges in your accounting software depending on their functions. This will help your divisions help fine-tune cost analysis according to their tasks. In the case of managers, they can access both accounting and operations, which allows them to gain insight into what is going on and make timely adjustments.
- Compliance: As a freight forwarding company, your business must constantly comply with regulatory requirements. Many of these are accounting-related. For instance, you must ensure that your duties and taxes are automatically considered. This way, you can ensure that your freight is adequately managed and reaches its destination quickly.
Conclusion: GoFreight’s Freight Forwarding Software Has the Best Accounting Module Anywhere
GoFreight’s freight forwarding software helps boost your business’s capability so you can keep up with the ever-changing demands of the industry and maximize its profitability through an exceptional integrated accounting module. With easy-to-use features and seamless integration into your current accounting systems, you can gain a better grasp on your financials soon after deploying your software. If you are looking for the most efficient way of increasing your revenues and maximizing your productivity, get a free demo with GoFreight experts now! With our top-notch customer service, we will ensure that you can realize your business goals quickly.
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