INDUSTRY · TRUCKING
Bookkeeping for truck drivers
and owner-operators, settlement by settlement.
Bookkeeping for truck drivers starts with the settlement statement: book the gross linehaul and fuel surcharge as revenue, then each deduction as its own expense, so fuel, insurance and escrow show up for IFTA and tax time. ZeraBooks bookkeeping services keep owner-operator books this way for U.S. and Canadian carriers, from $150 a month.
Free call · from $150 a month (USD) · settlements, fuel cards and truck loans included in the quote
WHAT CHANGES IN TRUCKING
Why is bookkeeping for an owner-operator different?
A trucking business can earn well and still run short of cash, because most of the money is spent before it reaches the bank. These are the places owner-operator books usually go wrong.
Settlements arrive net
A carrier or broker pays you after taking out fuel advances, insurance, escrow and fees. If you only record the deposit, revenue looks smaller than it is and every one of those costs disappears from the books.
Fuel is the biggest bill
Fuel card statements list every fill by date, location and gallons or litres. The dollars go to the books; the location and volume are what the IFTA return needs, so keep the statement, not just the total.
Factoring hides a fee
Sell a $2,000 invoice to a factoring company at a 3% fee and $1,940 lands in the bank. The books show $2,000 of revenue and a $60 factoring fee, or the fee vanishes and the customer looks short-paid.
A truck loan is two things
Each payment splits into interest, which is an expense, and principal, which only reduces the loan. Booking the whole payment as an expense overstates costs and leaves the loan balance wrong.
Personal and business on one card
Meals on the road, a phone and a home terminal blur the line. Owner draws stay out of expenses, and meals follow the per diem rules below, not the receipts in the cab.
Tell us about your books. We’ll scope the work and quote it before anything starts.
WORKED EXAMPLE
How do you record a trucking settlement statement?
Northline Hauling is a fictional owner-operator leased to a carrier. Its settlement for the week ending October 9, 2026 shows $9,660 earned and a $5,775 deposit. Here is how each line goes into the books:
| Settlement line | Amount | Account |
|---|---|---|
| Linehaul, 4 loads | 8,400.00 | Freight revenue |
| Fuel surcharge | 1,260.00 | Freight revenue |
| Fuel card advances | (3,180.00) | Fuel expense |
| Cargo and liability insurance | (420.00) | Insurance expense |
| Escrow held by the carrier | (250.00) | Escrow receivable (an asset, not an expense) |
| ELD fee | (35.00) | Software and subscriptions |
| Net deposit to checking | 5,775.00 | Bank |
9,660.00 earned less 3,885.00 deducted is 5,775.00, the amount on the bank statement. The escrow is still your money: it builds up as a receivable and comes back when the lease ends, less any charges. Fuel bought on the carrier’s card still needs its fuel card statement for the IFTA miles and gallons.
FILINGS AND RECORDS
Which trucking filings depend on your books?
Your accountant or permit service files these. The books and the records behind them have to be ready first.
| Filing | Who | What it needs from the books |
|---|---|---|
| IFTA fuel tax return | Interstate carriers in the U.S. and Canada, including BC-based carriers | Miles or kilometres and fuel bought in each state or province, each quarter. Due April 30, July 31, October 31 and January 31. |
| IRP apportioned registration | Trucks running in more than one jurisdiction | Distance by jurisdiction for the year, which sets the plate fees. |
| Form 2290 heavy vehicle use tax | U.S. trucks at 55,000 lb or more | The truck, its weight and first month of use. The tax year runs July 1 to June 30. |
| Schedule C or business return | U.S. owner-operators and carriers | Revenue, every expense by category, depreciation and the per diem total. |
| T2125 or T2, and GST/HST | Canadian owner-operators and carriers | Income and expenses, CCA on the truck, GST/HST charged on freight and input tax credits on fuel and repairs. |
Mileage by jurisdiction comes from your ELD or trip sheets, not from a bank statement. ZeraBooks keeps the money side and the fuel card detail; it does not file IFTA, IRP, Form 2290 or tax returns.
PER DIEM AND DEPRECIATION
How do per diem and truck depreciation work for drivers?
Two numbers that change the tax bill more than almost anything else in a trucking business. Rules differ on each side of the border.
| United States | Canada | |
|---|---|---|
| Meal rate on the road | $80 a day in the continental U.S. ($86 outside), the IRS transportation rate for October 2025 to September 2027 | $23 a meal, up to 3 a day, under the CRA simplified method, or actual receipts |
| Share you can deduct | 80% for drivers under DOT hours-of-service rules | 80% for long-haul drivers on trips of 24 hours or more, beyond 160 km from home |
| What to keep | Days away from home, from logs | Trips and meal count, on Form TL2 for employees |
| Truck depreciation | Over-the-road tractors are usually 3-year property | Freight trucks over 11,788 kg are usually class 16, 40% a year |
Per diem is a tax calculation, not a bank transaction. The books record what you actually spent; your accountant applies the rate when the return is prepared. Which depreciation method or election to use is their call, and the truck loan stays on the balance sheet either way.
WITH ZERABOOKS
How does ZeraBooks keep a trucking company’s books?
Our team keeps the books on our own AI-native ledger. You send documents through an upload portal and see the result in a read-only dashboard.
- 1
A free call
How many trucks, leased on or with your own authority, factoring or not, and which side of the border. We agree the monthly price after the call.
- 2
Upload each month
Bank and fuel card statements, settlement statements, factoring reports and the truck loan statement. There is no bank or fuel card feed; each statement is proven against its own opening and closing balance.
- 3
Settlements booked gross
Every settlement is split into revenue and deductions like the example above, and the net is matched to the deposit on your bank statement.
- 4
Quarterly fuel figures
Fuel spend by month from the fuel card statements, ready to go next to your ELD mileage for the IFTA return.
- 5
Year-end for your accountant
A trial balance, the truck and trailer asset list, the loan balance and the reports for the return. See monthly bookkeeping services for what each month includes.
How much does bookkeeping cost for an owner-operator?
ZeraBooks starts from $150 a month in U.S. dollars, with the exact price agreed after a free call. It depends on the number of trucks, accounts and settlements. Months that were never done are quoted once as catch-up bookkeeping, on top of the monthly fee.
Do you work with Canadian trucking companies?
Yes. ZeraBooks is run from Surrey, BC, and keeps Canadian books in Canadian dollars with GST/HST collected and input tax credits tracked. Our guide to bookkeeping services in Canada covers the CRA dates, and the Surrey, BC bookkeeping page covers BC PST and WorkSafeBC.
Do you file IFTA or Form 2290?
No. ZeraBooks keeps the books and gives you fuel spend by quarter from your fuel card statements. Your permit service or accountant files IFTA, IRP and Form 2290 using those figures and your ELD mileage.
Do you connect to my fuel card or ELD?
No. ZeraBooks has no bank, fuel card or ELD connection. Download the monthly statements as PDF and upload them to your portal.
I also run a few trucks on construction jobs. Is that different?
Hauling for contractors adds job costing and sometimes holdbacks. Our guide to bookkeeping for contractors shows how progress billing and retainage are recorded.
WE DO YOUR BOOKS
Send us one month of settlements.
We’ll quote the books in one call.
One truck or ten, leased on or your own authority, U.S. or Canada. You get a read-only login and an upload portal. Book the free call.
Last updated October 20, 2026 · Written by Damin Mutti, founder of ZeraBooks