What Is a VAT Invoice?
To comply with tax regulations and ensure proper tax handling, the majority of businesses based outside of the U.S. will need to get used to issuing VAT invoices. Even companies based in the U.S. that...
View ArticleWhat Is Double Brokering?
The trucking industry is heavily regulated. Therefore, a bulk of what makes a freight brokerage company successful is knowing rules and regulations back to front and avoiding fraudulent, illegal, or...
View ArticleWhat Is a Bill of Lading?
The bill of lading (BOL) is a key legal document in shipping. It acts as a contract, receipt, and sometimes title for transported goods and details the cargo’s type, quantity, and destination. However,...
View ArticleHow to Fill Out a Bill of Lading
Imagine a manufacturing company preparing to ship a significant order of products to a retailer across the country. To ensure the carrier legally acknowledges receipt and agrees to transport the goods...
View ArticleBill of Lading vs. Invoice
A common error made in logistics is confusing the bill of lading with an invoice. These documents serve distinct purposes in the transportation and sale of goods. Here, we outline the details of these...
View ArticleCommon Small Business Challenges and How to Overcome Them
It is estimated that there are over 33.2 million small businesses in the U.S. While on the surface this can make it seem like small business difficulties are few and far between, the reality is that...
View ArticleCo-Brokering vs. Double Brokering—What’s the Difference?
Every now and then, freight brokerage companies or carriers will utilize the services of a secondary freight company to deliver the shipment that they were hired to manage. Sometimes, though, this...
View ArticleWhat Is a Bill of Lading Number?
In shipping and logistics, transparency and organization should always be at the forefront. And when it comes to ensuring transactions are well-organized and properly documented, applying a number to...
View ArticleWhat Is a P.O. Number?
Think about a bustling office where numerous transactions occur daily—from ordering office supplies to contracting consultancy services. Businesses have seemingly endless documents being swapped back...
View ArticleWhat Are the Different Types of Staffing Agency Models?
Over the years, staffing agencies have been forced to adjust to the volume and variety of employment needs. Some employers need temporary employees, some need long-term positions filled, and others...
View ArticleWhat Is a Classified Balance Sheet?
The business balance sheet is one of the three major financial statements that help business leaders understand their company’s financial health and guide decision-making. The business balance sheet is...
View ArticleWhat Is a Fuel Card and How Does It Work?
Whether you’re a carrier with a large fleet of drivers or a solo owner-operator, running a trucking business is an expensive undertaking. In order to succeed, you need to familiarize yourself with...
View ArticleWhat Is a Business Balance Sheet and What Goes On It?
As one of the three main financial statements that are used to evaluate a business’s overall health, the balance sheet plays an important role in revealing a company’s overall health and where...
View ArticleHow to Send Someone to Collections for an Unpaid Invoice
It’s a problem no business owner wants to face but also a challenge that almost everyone will encounter sooner or later—an invoice that doesn’t seem like it’s going to get paid. When one of your...
View ArticleWhat Are Retained Earnings?
When it comes to your business balance sheet, one of the most important numbers you’ll find is your retained earnings, but to benefit from this information, you need to start by understanding how to...
View ArticleAn Overview of the SBA’s New Working Capital Pilot Program
If you’re a small business owner, you’re likely going to run into working capital problems. According to the U.S. Chamber of Commerce, a lack of adequate working capital is one of the biggest...
View ArticleRecruiting and Hiring Best Practices for Staffing Agencies
Running a staffing agency requires a keen eye for spotting talent. Effective staffing agencies bridge the gap between talented candidates and companies that need their skills, but plenty of agencies...
View ArticleHow to Use Spot Market Freight Rates to Get Higher-Paying Loads
Both carriers and owner-operators want the best payment possible for hauling loads for their customers. While some drivers and carriers prefer the consistency of contract rates, spot market freight...
View ArticleIs There a Truck Driver Shortage in 2024?
Trucking is a vital part of the American economy, making a national truck driver shortage a serious cause for concern. While 3.05 million truck drivers were employed in the U.S. in 2023, this is...
View ArticleFuel Card Requirements and How to Apply for a Fuel Card
Fuel is unsurprisingly, one of the costliest expenses for trucking businesses. That’s why the most successful owner-operators find ways to save dollars on fuel, one of which is by investing in a fleet...
View ArticleWhat Is a DOT Number and How Do You Get One?
One of the most important parts of becoming an owner-operator and starting your own trucking company is obtaining a DOT number for your business. But what is a DOT number on a truck, and what is...
View ArticleWhat Is Candidate Sourcing and How Does the Sourcing Process Work?
There are several steps involved in a typical recruitment process. Screening, interviewing, and onboarding are some of the most commonly understood, but one process that often gets overlooked is...
View ArticleCan You Get a Fuel Card With No Credit Check or Bad Credit?
Of the many financial concerns associated with running a trucking business, few are more pertinent to your day-to-day operations than obtaining a fuel card. Fuel cards are not only convenient for...
View ArticleWhat Is a Projected Balance Sheet and How Do You Create One?
Planning for future growth is an obvious critical component of running a business, but how to do this effectively is not quite as obvious. This is where a projected balance sheet comes into play. This...
View ArticleHow to Become an Owner-Operator With No Experience
Looking for a career change? Or perhaps, simply considering moving on from being a company driver and starting your own trucking business? Becoming an owner-operator could be a lucrative option—in...
View ArticleGuide to Creating a Pro Forma Analysis Using Your Financial Statements
Knowing how to analyze performance to gauge overall success is one of the most critical practices for business owners. However, a thorough business financial analysis involves more than crunching...
View ArticleFree and Simple Business Expense Calculator
Calculating business expenses is no easy task. Sure, simple addition is the only math involved, but the hard part is keeping all of these expenses organized and easily accessible—along with knowing...
View ArticleDifferences Between a Startup vs. Small Business
When starting your own company, one question you might be wondering is whether your new endeavor will be considered a startup or a small business. While startups and small businesses have several...
View ArticleHow to Get Trucking Contracts
Deciding to start a trucking company can feel like a leap of faith. As an owner-operator, you’re embracing the flexibility and hard work of a life on the road. While purchasing or leasing a truck is an...
View ArticleCalifornia’s AB5 Law: What This Means for Owner-Operators
California Assembly Bill 5 (commonly known as the California AB5 law) has had an outsized impact on owner-operators in California. Though not necessarily intended as a California truck law, the bill...
View ArticleTips for Using SEO to Grow Your Staffing Agency
Incorporating tried-and-true SEO tactics into a company website is one of the most cost-effective ways to attract clients to your staffing agency. And yet, not every agency owner is doing it. Those who...
View ArticleYour Guide to Mastering the Accounts Receivable Process
The accounts receivable process (or AR process) is one of the most important elements of running a profitable business. It is the system a company uses to manage the payments their clients owe them....
View ArticleWhat You Need to Know About Owner-Operator Health Insurance
As an owner-operator, there are many trucking business expenses to consider before you go through with launching your company. Purchasing fuel, buying a truck, and maintenance costs might come to mind...
View ArticleFastest-Growing Staffing Companies in 2024
Staffing Industry Analysts (SIA) recently revealed the fastest-growing staffing companies in the US over the past five years. A total of 145 US-based staffing agencies were included in SIA’s list,...
View ArticleHow to Find the Highest-Paying Truck Loads
Trucking is a very competitive market—but those who take the right approach can come out ahead. In order to do so, you must find the highest-paying truck loads to ensure your business succeeds....
View ArticleThe 6 Levels of DOT Inspections: How to Get One, How to Prepare & Checklists
If you’re running your own trucking business, you need to know the ins and outs of DOT inspections. These inspections help keep the roads safe by ensuring that commercial vehicles are in good operating...
View ArticleWhat Are the Benefits of Fuel Cards? Weighing the Pros and Cons
Trucking companies are currently spending a historically high amount of money per mile, with one of the costliest expenses being—unsurprisingly—fuel. From 2020 to 2022, the average fuel cost per mile...
View ArticleFuel Cards vs. Credit Cards: What’s the Difference?
Fuel is one of the costliest expenses for carriers and has only gotten more expensive in recent years. In fact, the average price for fuel increased from 30 cents per mile in 2020 to 64 cents per mile...
View ArticleBest Fuel Cards for Small Trucking Companies
Studies show that trucking owner-operators spend as much as $70,000 a year on fuel, making it one of the biggest expenses for small fleets. Using an eco-friendly truck and driving safely can cut fuel...
View ArticleWhat Is a Candidate Skill Assessment and How Do Staffing Agencies Build One?
Hiring is a high-stakes game for employers. In fact, just one bad hire costs businesses, on average, $17,000. So, whether you’re an established recruiter or you’re starting your own staffing agency,...
View ArticleCan You Get a Business Credit Card with Bad Credit?
Your business credit score can have a huge impact on your ability to effectively manage your company. A high score makes it easier to secure credit cards, lines of credit, loans, and other funding to...
View ArticleWhat Is a Talent Pool and How Do You Manage One?
For staffing and recruiting agencies, few things are more important for long-term success than creating and maintaining a quality talent pool. With a large recruitment talent pool, you can easily...
View ArticleFirst-Time Owner-Operator Truck Financing Options
Becoming an owner-operator can pay off in the long run, given the position’s earning potential, but hefty startup costs add a barrier of entry to the industry. For many, owner-operator truck financing...
View ArticleCredit Memos: What Are They & When Are They Required?
A credit memo, also known as a credit note or credit invoice, is an important document in business accounting. Credit memos are issued by the seller to the customer when there is a reduction in the...
View ArticleThe Differences Between a Credit Memo and Debit Memo
As nice as it would be to never need to make invoice adjustments, it’s a relatively common practice in business accounting. Understanding the difference between a debit memorandum vs. credit memorandum...
View ArticlePayroll Process Improvement Ideas
Employees are the glue that keeps your business moving. Managing employee payroll might not sound exciting, but everyone on your team expects a timely paycheck. Payroll is crucial, but it can also be...
View ArticleHow to Spot a Fake Invoice and Prevent Invoice Fraud
Effective business accounting involves more than just ensuring all invoices are paid and processed properly. It also means verifying that bills sent your way are legitimate and not an act of invoice...
View ArticleDOT Audits: What They Are, When They Occur & Checklist
All trucking companies, from brand-new LLCs to seasoned businesses, must make a habit of abiding by trucking compliance regulations to prepare for DOT audits and routine inspections. To do so, carriers...
View ArticleHow to Buy a Semi-Truck
A semi-truck is the most crucial piece of equipment for trucking business owners, but it’s also a huge investment! There are a lot of factors to consider when buying your first semi, from the...
View ArticleHow to Lease a Semi-Truck
A semi-truck is arguably the most important asset for any trucking company. Some carriers choose to purchase their semi-trucks, but that isn’t the right option for all business owners. So whether the...
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