Monthly bookkeeping guide

How to read a trucking profit and loss statement

A useful P&L separates revenue from the costs of moving the truck, the costs of owning the equipment, and the overhead of running the business.

Reviewed July 25, 2026 · Educational information, not tax, legal, accounting, or regulatory advice.

What the P&L does—and does not—show

A profit and loss statement summarizes income and expenses over a period. It can show whether the operation earned an accounting profit, but it is not the same as cash in the bank. Loan principal, owner draws, equipment purchases, unpaid invoices, and timing differences may affect cash without appearing as current expenses in the same way.

Separate operating categories that support decisions

  • Revenue: linehaul, fuel surcharge, accessorials, detention, and other operating revenue.
  • Variable truck costs: fuel, DEF, tolls, scales, lumper charges, factoring fees, and trip-specific permits.
  • Equipment and maintenance: repairs, tires, preventive maintenance, leases, and the expense portion of equipment ownership.
  • Insurance and compliance: physical damage, liability, cargo, registrations, permits, and applicable administrative fees.
  • Back-office overhead: bookkeeping, software, communications, professional fees, office costs, and bank charges.

Match settlements and deposits before judging performance

A carrier settlement may include gross revenue, deductions, advances, chargebacks, and reimbursements. A factoring deposit may be net of fees or reserves. Posting only the bank deposit as revenue can hide both income and expense detail. Reconcile the supporting statement to the deposit so the P&L reflects the economic activity rather than only cash movement.

Review the same questions every month

  • Did every settlement or invoice make it into revenue once—and only once?
  • Were factoring fees, fuel advances, and carrier deductions separated correctly?
  • Which cost categories changed materially from the prior month or year-to-date pattern?
  • Are any balance-sheet items, loan payments, or owner draws being mistaken for expenses?
  • Can the tax professional trace year-end totals back to reconciled records?

Keep management reporting separate from tax conclusions

Management categories should help the owner understand the business. Tax treatment may differ and depends on facts, entity structure, elections, and current rules. Use bookkeeping reports as organized input, then rely on a qualified tax professional for return positions and tax advice.

Primary sources