Are you using spreadsheets to keep track of what you are paying your owner operators? In my 16 years on the transportation software business, I have seen everything from handwritten settlement sheets to excel spreadsheets with hundreds of tabs.
We recently implemented a customer with 13 owner operators. They provided the owner operators with fuel cards, cash advances, insurance payments, escrow, etc. The gal responsible for paying them would require two full days to get them all paid correctly! After all that hard work, at the end of the year, she would manually have to figure 1099 totals. Let’s go over her process:
Step #1: Sort through all the freight bills and find the freight bills that the driver did within the payment date range.
Step #2: Log into the Fuel Card company website and print out a report of all the fuel/cash advances that the driver had for the date range.
Step #3: Check that drivers file folder to see if they had any other repairs/fuel that weren’t put through the fuel card.
Step #4: Pull the piece of paper that has all the insurance deductions, fuel tax deductions, and any type of repair, escrow, or truck loan that he owes.
Step #5: Now for the time consuming part: entering steps 1-4 onto a spreadsheet manually
Step #6: Print the spreadsheet to give with the check
That may seem like an alright process, but if you were using a TMS, like TruckWin Connect, the process would be as simple as this:
Step #1: Process all the trips, advances, fuel purchases, and standard deductions in Revenue Settlements that are ALREADY THERE from Freight Billing.
Step #2: Print check and settlement report
What was taking two days, took only a few hours after implementation of TruckWin Connect. This is a great example of how implementing a TMS can save you time and money! Think about how many other things that employee can accomplish now that she isn’t spending two days doing settlements. They were able to stop paying a third party to do fuel tax and she took that on. During this process, the company realized there were some fuel purchases and cash advances they weren’t collecting back due to human error.
Aside from time, the biggest difference was at the end of the year, when it came time to print 1099’s, they simply had to click a button to get their full tax reports and 1099’s. They didn’t have to spend a week totaling numbers from old spreadsheets.
-Becki Lynch Truckwin Solutions, Inc.