If you have a trucking company, you likely spend a lot of time on the road. So, you need a business account that works for you. A business account should do more than keep your finances in one place. It should also help you manage those finances to help improve your business. But what is the best business account for trucking companies? 

This guide discusses business account for trucking companies, including: 

  • What truckers might look for in a business account 
  • What the best trucker business accounts should offer 
  • How to get started with your business account 

What trucking companies might look for in a business account 

A business account can help you separate your trucking company finances from her personal ones, but you need an account that’s as mobile as you are. Instead of searching for the nearest local branch during your driving jobs, seek a bank account that either has many accessible branches or isn’t tied down by a branch at all. 

The best business account for trucking companies needs to make it easy to track and manage your money on the go. Plus, look for an account that streamlines your financial processes with time-saving automatic tools. On top of this, you’ll need strong and accessible customer service when you need it. These perks will help you stay on top of your finances while you drive around.

The truth is, financial management can be stressful and time-consuming when you’re self-employed. That’s why thousands of business owners use the Countingup app to make their financial admin easier. Countingup’s goal is to make it easier to run a small business, and users have rated it ‘Excellent’ on Trustpilot.

Countingup is the business current account with built-in accounting software that allows you to manage all your financial data in one place. With features like automatic expense categorisation, invoicing on the go, receipt capture tools, tax estimates, and cash flow insights, you can confidently keep on top of your business finances wherever you are. The app streamlines, saves time, and adds to the convenience of a trucker’s financial management. 

Countingup’s app is easy-to-use with in-app help. But if you ever need help, there’s also a reliable support site and customer service contacts. With these, you’ll get quick assistance without long queues.

What the best trucker business account should offer

Now that you know what to look for in a business account for trucking companies, you may want to seek a few tools out of the best account. Countingup offers several unique tools that will make your financial organisation easier. As a result, you can focus on earning more from your trucking company while on the road and saving money for growth. 

Invoicing on the go 

The best business account should do more than just hold your money. It should also help you bring your earnings in promptly. 

The Countingup app allows you to create, send, and duplicate unlimited invoices on the go. This feature makes it easy to invoice clients while you’re on the road, so you can be sure to earn the money you worked for. In addition, Countingup will notify you when you receive invoices and automatically match them to payments, blending your business account with your bookkeeping. 

Expense management 

Aside from invoicing, the Countingup app helps you stay on top of your business expenses. With automatic expense categorisation, the app will instantly label your charges with HMRC approved categories. This tool enables you to find expenses that you can deduct from your taxes. 

Also, with the receipt capture tool, you can snap a picture of your receipt for proof of expenses without messy pockets while you’re on trucking jobs. Countingup will even remind you to snap your receipt as soon as you make a purchase. 

Cash flow insights 

The Countingup app can also help you understand the money coming in and out of your business. The app automatically generates cash flow insights, showing the cash that goes in and out of your business over a given time. These insights can help assess your business performance. 

With this information, you can make better business decisions and outline your budget. For example, you could set money aside to plan for growth or cut down on expenses to meet short term obligations. The data can also help you put together valuable financial documents like your income statement

Simpler taxes 

The best business current account will also simplify your business taxes. As a self-employed person, you’ll likely need to submit a Self Assessment tax return to determine what you owe. With the ongoing tax estimates, you can avoid surprises regarding tax expenses and start putting money aside.  

Plus, if you’re VAT registered with a higher than £85,000 turnover, you’re required to submit a VAT return using Making Tax Digital guidelines. So, your business account should be MTD-compatible, like Countingup, which calculates the VAT for each business transaction.  

Even if you’re not VAT-registered, MTD will become mandatory for many self-employed persons earning over £10,000 in 2024 when they file their Self-Assessment tax return. MTD is the future of tax filing, so choose a business account that looks ahead. These tools will help you maintain accurate tax records so you only pay what you owe. 

You can also share your bookkeeping with your accountant instantly without worrying about duplication errors, data lags or inaccuracies. Seamless, simple, and straightforward! 

Sign up for a business account in minutes with 3 months free 

If you have a trucking company, you likely spend a lot of time driving materials for jobs, which means less time to focus on your business finances. Just as Countingup is easy to use for your small business, it’s easy to open an account. 

You can sign up for your Countingup account in under five minutes. Simply download the app and fill out the information about your small business. Once you’ve verified your identity, Countingup will send you an account number, sort code, and Mastercard. 

Start your three-month free trial today. Find out more here.