“Where’s my paycheck?” – is something that we’ve all heard whenever there’s a slightest delay in the payroll process. Delays in processing paperwork, calculation errors and “technical glitches” can significantly impact timely payroll checks or deposits. Driver’s not only want to be paid on time but also have confidence that they are compensated fairly for their work. How can you as a small truck company simplify the driver settlement process, reduce paperwork and present an error-free settlement sheet?
Do your Math – or not
When it comes to paying drivers the numbers need to match reality. Your integrity as a company is on the line if you underpay and your bottom line suffers if you overpay. Keeping track of the trip is critical as each mile matters for the driver and the company. Trip sheets are a very common practice even in the days of smart technology. The additional work for the driver to track miles can be burdensome. Manual data entry and calculations at the end of the week are time consuming and error prone. Why not allow this process to proceed organically throughout the week as the trips are completed? Using LoadPanel and the LoadPanel Driver App both you and the driver are current on the milage driven and money earned.
As each trip is created milage is automatically calculated with the Google Maps API integration. Adjustments can be made for special truck routing to accommodate road conditions or restrictions. As new expenses are incurred they are added to the trip. At the end of the pay period all that is left to do is generate the settlement.
Run Payroll – just click
In smaller trucking companies, driver pay is mostly calculated by milage or percentage of the trip rate. LoadPanel allows a driver to be configured as a company driver or an owner operator. The calculated pay will be based on these settings. Fixed expenses can be automatically added during the settlement generation and any unexpected deductions can be easily applied at the same time. An overwrite exception allows manual adjustment to the milage in case the software milage calculation is off.
Once all the numbers check out the settlement is finalized. The settlement page can be downloaded as a pdf file or emailed directly to the drivers. Each settlement has detailed trip information for the period, any additional deductions or compensation as well as year-to-date totals. Now what is left is to generate a paper check or a direct deposit for the total amount due to the driver.
If you are operating a trucking business with fewer than 100 trucks, you need reliable, web-based truck management software which has a simple settlement feature among many other functions. Our team at LoadPanel will get you setup and using our service at no charge. Try the LoadPanel 30-day free trial.