This article explains how to process a truckload advance pay within Tai TMS. This function allows brokers to issue advance payments to carriers for truckload shipments.
Table of Contents
- Summary
- What is Advance Pay?
- When to Use Advance Pay?
- How to make an advance payment
- Show Advance Payment for Shipments
- Advance Payment in the Approve Bills Page
- Payment History for Advance Payments
- How Advance Pay Affects Accounting
Summary
Truckload Advance Pay gives a broker functionality to allow for making advance payments to carriers for TL shipments. This function can also utilize integrations with Truckstop Pay. These services are not required, but will allow the payment process to flow easily. With Truckload Advance Pay, you can create a bill payment without having created the bill.
What Is Advance Pay?
Advance Pay allows brokers to issue partial payments to carriers before a load is completed. This is commonly used to support drivers with upfront costs such as fuel or tolls.
When to Use Advance Pay
Use advance pay when:
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Carriers request fuel or travel advances
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Loads require upfront expenses to be covered
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Your team has internal approval to prepay part of the load
Advance Payment Creation
To create an Advance Payment, on a Truckload Shipment, click on Accounting --> Advance Pay
This will pull up the Register Advanced Payment screen. Enter a payment date, the applied amount, and any pertinent details required for the payment.
Show Advance Payments for Shipments
After saving the payment, an Alert will be appended to the shipment indicating that an Advanced Payment exists.
An alert will be appended to the shipment to indicate that an Advanced Payment exists.
On the Accounting Shipment Search page, the Advanced Bill Payment will be displayed.
Advance Payment in the Approve Bills Page
When the bill is approved, on the Approve Bills Page, if an Advanced Payment exists, it will be indicated in the Advanced Payment column. Bill payment will be automatically associated with the bill once it is approved.
PS: Please note that the load must be delivered.
Payment History for Advance Payments
On the Bill Payment History page, the Advance Payment section will allow the user to filter on any Unapplied or Applied payments.
How Advance Pay Affects Accounting
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The advance will appear in the shipment’s cost section
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It is automatically deducted from the carrier bill
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Helps ensure accurate reconciliation without double payment