How QuickBooks Can Help Truckers Prepare Their Finances for Year-End
October 19, 2024
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f you own a trucking business, you know how crucial it is to maintain cash flow, cover expenses, and build strong business credit. One of the best ways to establish and improve your business credit profile is by using Net-30 accounts. These accounts allow you to purchase goods and services on credit and pay within 30 days, helping you manage your cash flow effectively while boosting your business credit score.
Why Net-30 Accounts Matter for Trucking Businesses
Trucking companies often face significant upfront expenses, including fuel, repairs, permits, and equipment. Net-30 accounts can help by providing short-term financing without requiring personal credit checks or extensive financial history. Additionally, many Net-30 vendors report to major business credit bureaus such as Dun & Bradstreet, Experian, and Equifax, which can help trucking businesses build a solid credit foundation.
By improving your business credit, you can qualify for better financing options, including business loans, fuel cards, and equipment financing. Here are some of the best Net-30 accounts for trucking businesses:
Best For: Office and trucking-related supplies
Quill offers a variety of office supplies, cleaning products, and shipping materials. It’s an excellent choice for trucking businesses that need to stock up on essential items while building business credit. They report to Dun & Bradstreet, making them a great option for establishing a credit profile.
Requirements:
Must have an EIN and business bank account
Must make an initial prepaid order before receiving Net-30 terms
Reporting: Dun & Bradstreet
Best For: Packing and warehouse supplies
Uline is another well-known Net-30 vendor that provides shipping, packaging, and warehouse supplies. Trucking businesses can take advantage of their vast inventory while simultaneously building credit.
Requirements:
EIN and business address required
Credit approval is based on business history
Reporting: Dun & Bradstreet
Best For: Building credit quickly with easy approval
Crown Office Supplies is a great option for trucking companies looking for easy Net-30 approval. They report to major business credit bureaus and offer products like office supplies, electronics, and branded items.
Requirements:
EIN and business bank account
Annual membership fee required
Reporting: Dun & Bradstreet, Equifax, Experian
Best For: Fuel and maintenance expenses
Fuel is one of the biggest expenses for trucking businesses. Wex Fleet offers Net-30 fuel cards, allowing truckers to manage fuel costs efficiently while improving their business credit.
Requirements:
EIN and business verification required
Credit approval based on business financials
Reporting: Dun & Bradstreet, Experian
Best For: Comprehensive credit-building and financing solutions
Nav is a financial tool that helps businesses track and improve their credit while connecting them with financing options. Their Business Boost plan includes a Net-30 tradeline that reports to major business credit bureaus.
Requirements:
Subscription to Nav’s Business Boost Plan
Reporting: Dun & Bradstreet, Experian, Equifax
Apply for Multiple Net-30 Accounts – Start with 2-3 vendors that report to major bureaus.
Make Regular Purchases – Use the accounts consistently for necessary business expenses.
Pay On Time – Always pay within the 30-day window to ensure positive reporting.
Monitor Your Credit – Use tools like Nav to track your business credit progress.
Expand Credit Opportunities – As your credit improves, apply for business credit cards, loans, and better financing options.
Building strong business credit is essential for trucking companies looking to grow and secure better financing options. If you’re serious about improving your credit and accessing more funding opportunities, consider signing up for Nav’s Business Boost Plan.
By leveraging Net-30 accounts and monitoring your credit with Nav, you’ll set your trucking business up for long-term financial success. Don’t wait—start building your business credit today!
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