Explore essential features in accounting software for logistics companies and learn how Summit helps with seamless integration.
Logistics companies operate in a fast-moving, high-cost environment where every shipment, vendor invoice, and customs charge must be tracked with precision. But when it comes to managing finances, too many firms rely on generic accounting tools that weren’t built for logistics complexity.
From fuel reimbursements to freight cost allocation and multi-currency payments, logistics accounting isn’t like other industries. It demands systems that can handle constant change, fluctuating rates, and multiple cost centres.
Logistics-Specific Accounting Needs
Accounting in logistics is more than just recording income and expenses. It involves complex, multi-layered cost tracking across shipments, vendors, and international transactions.
Here’s what makes logistics accounting unique:
Multi-Currency Handling
Many logistics businesses operate across borders, dealing with foreign exchange fluctuations, international payments, and varying tax regimes. Your accounting system must be able to handle multi-currency invoices, conversions, and compliance with local financial regulations.
Freight Cost Allocation
Allocating freight charges to the correct shipment, project, or client is vital for accurate margin analysis. Without this, finance teams struggle to identify profitable routes or spot where overspending occurs.
Fuel Reimbursements and Variable Costs
Fuel prices change daily. Managing fuel reimbursements for delivery fleets or subcontractors, along with ad-hoc charges like port storage or demurrage, requires flexibility in expense tracking and cost allocation.
Vendor Payments and Third-Party Coordination
From freight forwarders to customs agents, logistics firms work with a large network of vendors. Managing these relationships means dealing with staggered payment terms, recurring invoices, and multiple invoice formats.
Explore how we help logistics firms streamline these processes in our vendor invoice management solution.
Must-Have Features in Logistics Accounting Software
If you’re considering new software or upgrading your current system, these features are essential for success in a logistics environment:
- Seamless Integrations
Your accounting tool should connect easily to TMS platforms, ERP systems, and spend management tools. Integration avoids double data entry, improves accuracy, and ensures all systems work from the same dataset.
- Built-in Approval Workflows
Manual invoice approvals create delays and inconsistencies. Look for accounting software with configurable workflows that route approvals based on amount, vendor, or shipment code.
- Mobile Accessibility
With logistics teams often on the move, mobile access to financial data, invoice approvals, and expense submissions keeps workflows running—no matter where your team is.
- Real-Time Reporting
Finance teams need up-to-date insights into logistics costs, vendor performance, and budget usage. Your accounting platform should offer custom dashboards and live data feeds to support fast decisions.
If you’re unsure whether your setup covers these essentials, explore our guide to expense management for operational teams.
Common Challenges Without a Dedicated System
Firms that rely on general-purpose accounting tools often face avoidable inefficiencies and delays. Manual errors are common, especially when shipment codes, currencies, or vendor terms are copied across spreadsheets or disconnected platforms. Reconciliation becomes slow and error-prone without automatic syncing between systems like TMS and accounting software, delaying month-end closes and obscuring real-time visibility. Additionally, the lack of structured vendor tracking by shipment, route, or client means finance teams struggle to monitor cumulative spend, flag duplicate charges, or hold vendors accountable. Without a dedicated system, finance becomes reactive, focused on fixing issues rather than driving strategy.
Integration with Other Systems
Modern logistics firms depend on a tech stack that includes:
- TMS (Transportation Management Systems) to plan, execute, and optimise shipments
- ERP systems to handle procurement, HR, and financial planning
- Spend management platforms to control vendor invoices, employee expenses, and budget approvals
The accounting software you choose must integrate seamlessly with these platforms, either directly or via APIs, to ensure clean data flow and reduced admin load.
For example, when a shipment is created in your TMS, the corresponding freight invoice should automatically link to the correct cost centre in your accounting software. When fuel expenses are logged in your spend platform, they should update the budget view in real time.
How Summit Supports Logistics Finance Workflows
Summit doesn’t replace your accounting software, it makes it smarter, faster, and more actionable. Whether you use Xero, NetSuite, QuickBooks, or a custom ERP, Summit plugs in to simplify spend control and financial visibility.
Automate Vendor Expense Management
Summit captures, categorises, and approves vendor invoices related to freight, customs, storage, and more. You can apply logic-based rules to route approvals, reduce delays, and catch duplicate charges before they hit your books.
Track Freight Costs by Shipment
Group expenses by shipment ID, client, or delivery route. This gives you a clearer view of which lanes are profitable and which are driving costs.
Manage Budgets and Custom Cost Centres
Set budgets by department, project, or shipment type. Summit alerts you to overruns and provides real-time budget vs. actual reports across your logistics operations.
Sync with Your Accounting System
Summit integrates with leading accounting platforms, allowing data to flow both ways. You’ll save hours on reconciliation and reduce errors caused by double entry or siloed systems.
Take the Pressure Off Your Finance Team
The right accounting software helps you handle the basics. But when paired with Summit, it becomes a powerful control centre for managing vendor costs, improving cash flow, and scaling your operations with confidence.
Want to see how Summit helps logistics companies get full visibility into their financial workflows? Talk to us today and discover how we help finance teams stay in control, no matter how fast things move.
