Bookkeeping for Trucking Companies
IFTA fuel tax tracking, multi-province HST filing, driver log reconciliation, and full bookkeeping for owner-operators and trucking companies across Ontario and Canada.
Last updated: March 2026
Why Trucking Needs Specialists
The Unique Financial Challenges of Trucking
Multi-province operations, IFTA fuel tax, owner-operator deductions, and driver log reconciliation make trucking one of the most complex industries for bookkeeping.
Complex Fuel Tax Tracking
Fuel purchases span multiple provinces and the US. IFTA fuel tax reporting requires meticulous mileage and fuel logs by jurisdiction — a common source of CRA and IFTA audit triggers.
HST on Cross-Border Trips
Interstate and interprovincial hauls have different HST rules. Owner-operators and carriers often miss input tax credits they are entitled to on fuel, maintenance, and equipment.
Driver Log Reconciliation
Hours-of-service logs must align with income, fuel purchases, and mileage claims. Inconsistencies are a red flag in CRA reviews.
Owner-Operator Complexity
Owner-operators run as self-employed individuals or corporations with unique deductions — lease payments, insurance, per diem, home-base expenses — that require expert handling.
Our Services
What Taxxel Handles for Trucking Companies
Fuel Cost Tracking & IFTA Support
Accurate fuel expense tracking by province and state, supporting IFTA quarterly tax reports.
HST/GST Filing
Quarterly HST returns with eligible input tax credit record support on fuel, maintenance, repairs, and equipment purchases.
Driver Log Reconciliation
We reconcile driver logs against revenue and expenses to support consistent financial records.
Monthly Financial Statements
Clear monthly P&L and balance sheet so you know exactly where your business stands.
Payroll for Drivers
Payroll processing for owner-operators, employee drivers, and dispatch staff.
Per Diem & Travel Expense Tracking
Proper documentation of per diem, meals, and lodging deductions with supporting records for tax preparation.
Equipment & Depreciation
CCA schedules for trucks, trailers, and equipment — maintained for year-end tax preparation.
CRA Records Readiness
Organized records and consistent reporting that are organized for CRA review or audit requests.
Complete Package
What's Included
- Monthly bookkeeping and bank reconciliation
- Fuel cost tracking by province/state
- IFTA quarterly fuel tax support
- HST/GST quarterly filing with ITC recovery
- Driver log reconciliation with revenue records
- Per diem and meal expense tracking
- Equipment and vehicle CCA schedules
- Owner-operator self-employment expense tracking
- Payroll for drivers and office staff
- T4 slips and year-end payroll summaries
- Monthly P&L and balance sheet
- Year-end financial statements and T2 or T1 filing
Pricing
From $100/month
Flat monthly fee — no hourly rates, no surprises. Scaled to your fleet size and transaction volume.
Get a Custom QuoteOwner-Operators Welcome
Solo owner-operators with a single truck get the same professional bookkeeping as large carriers — at a price that makes sense for your revenue.
FAQ
Frequently Asked Questions
Need help deciding the right starting point?
Tell us whether the need is bookkeeping, tax, CRA records support, catch-up work, or an industry-specific financial-record matter. We will route the enquiry appropriately.