TMS + 3rd Party Accounting Software = Maximum Flexibility
In a recent inquiry to Profit Tools, we were asked to explain why Profit Tools chooses to integrate with 3rd party accounting software, like QuickBooks & Peachtree, rather than deploying an all-in-one transportation management system (TMS). Profit Tools uses an outside accounting package to perform all accounting functions beyond creating invoices, and computing driver and 3rd party carrier pay (I explain the process below), and we see this as a strength of our product for several reasons:
If you are using a TMS with a 3rd Party accounting package then you have more flexibility and consequently more leverage with both applications -
If your TMS and accounting is all rolled up into one, then you are stuck. If the accounting in an all-in-one package isn't great, you are stuck with it because you are entrenched with the operations side. If the operations side is lacking, or your business model / scope of service changes, once again, you are stuck with the all-in-one package because it has all your accounting data. It would be unreasonable to expect the accounting data from an all-in-one package to translate into another application.
On the other hand, if your accounting and TMS are separate, you have the flexibility to make changes when you need to. If your business changes in some way, shape, or form, you can be confident that if the TMS provider can no longer fit your needs, you can jump ship and still keep all your accounting data intact and in hand. Conversely, if the accounting package you are using fails to continue to meet your needs, you can transition to another accounting package without disrupting the operations.
Applications that are exclusively designed for accounting are far more robust then a TMS trying to squeeze accounting in -
This is maybe one you have heard before, but, do you really want a trucker keeping your books? At Profit Tools we believe that our industry knowledge and experience is one thing that sets us apart from the competition. Our staff is full of people who have actually driven trucks, been dispatchers, been operations managers, and owned trucking companies. You can talk to us about what is actually going on in your operation, and we get it. Therefore, we leave the accounting to the accounting pro's, and we prefer that they leave the transportation management to us. Having an integration with the best accounting packages on the market allows us to harness their accounting intelligence, and give you the best tools an accountant can work with, without compromising operations. If we tried to put accounting into our package, we wouldn't be able to compare to the packages with a team of accountants behind them.
It's easier to find qualified staff to work with the major accounting applications -
If you are looking to hire staff for any type of accounting position it is going to be much easier to find quality candidates who are familiar with one of the major accounting packages, then to find someone who is familiar with the accounting functions of 'Xyz' TMS. All in all, you get better accounting professionals using better accounting software.
When using Profit Tools, invoices are created and sent from the Profit Tools application, and AR and AP information is sent to the selected accounting package. Profit Tools utilizes an account mapping method that allows you to break out amount types (the things you charge for) and map them to the appropriate accounts within your accounting package. Profit Tools is also able to map your different service offerings into separate general ledger accounts, or map them to a different company file altogether if need be. The same type of account mapping is used for AP as well. Driver and 3rd Party Carrier settlements are computed in Profit Tools (including using imported Fuel Card data), and the AP information is sent to the accounting package. We integrate with more than just QuickBooks and Peachtree; MAS 90 and Dynamics are two other popular packages within our customer base. Also, we have created custom integrations for customers choosing to use a unique or in-house accounting solution.
The bottom line is, you don't have to paint yourself into a corner by choosing an all-in-one TMS. Partner with Profit Tools, specializing in your operational needs, to increase your software flexibility.
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