Companies operating in the logistics and transportation industry such as airlines, cruise liners, railways and shipping/trucking firms face several accounting and operational challenges that can impact their net earnings.
That is why it is critical that good accounting practices are followed to manage their cash flow and liquidity.
Logistics companies have always had to contend with uncertainties in operational costs. Fluctuations in oil prices and shipping rates can greatly affect their profit margins and the profitability of their freight quotations.
In addition, shipping companies are under a significant amount of pressure from consumers to keep up with their changing expectations in today’s digitalised world. The modern consumer wants instant-gratification, and as a result, there has been a rise in “next day delivery” and even “same-day delivery”..
First Floor professionals can understand the accounting complexity and can support the International scope of Logistic and Transportation businesses through their deep VAT knowledge. We use the most up to date accounting software that fully meets the needs of modern businesses.