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Each settlement has a date so enter that here.
  • Each settlement has a date so enter that here.

  • Add the carrier you’re leased on to by selecting “New Carrier” from the list.

Okay, I am very new to all this and have no clue what half these terms means. Please as simply as possible, what is a settlement? I'm like a day old into the owner/op side of trucking

Ryan - Reply

Ryan, this is Aaron Yount, one of the owners of Let's Truck. Would you be interested in a free ONE-ON-ONE with my team to learn more about ProfitGauges? If so email me at aaron@letstruck.com and I'll get you over to the right person. Thanks for using the program.

Aaron -

The top header tells you the date of the settlement and the carrier. You can easily change these by clicking on "change" to the right. Here is where you would also "delete" your settlement.
  • The top header tells you the date of the settlement and the carrier. You can easily change these by clicking on "change" to the right. Here is where you would also "delete" your settlement.

  • When entering your first settlement you will need to set up custom sub accounts for each category. ProfitGauges will remember these new accounts for quicker settlement entry in the future.

    • Click on the drop-down under one of the categories and select "add new". This will open new fields.

    • Enter your desired sub account name and click "save"

    • When creating a custom sub accounts for expenses / deductions you need to choose the appropriate category the expense is associated with.

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Once you have 2 or more values per section (income, reimbursements, expenses) the program totals it up.
  • Once you have 2 or more values per section (income, reimbursements, expenses) the program totals it up.

  • Reimbursements show up as a positive number on your settlement only to balance it out. Reimbursements are neither income nor an expense.

  • Creating a new sub account under expenses is simple and you are able to associate it with a particular category for better reporting.

    • Be sure to choose the category that best describes the expense. Add a name and click "add"

  • Before leaving the settlement always remember to balance ProfitGauges with the settlement from your carrier.

  • If you are syncing FuelGauges fuel and or maintenance with ProfitGauges you'll want to associate your settlement's fuel and or maintenance account with the "retain earnings" category so you are not double expensing yourself.

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Conclusion

After your first few settlement entries you'll be entering them in under 2 minutes. Enjoy the simplicity.

20 other people completed this guide.

Aaron

Member since: 11/02/2011

8,738 Reputation

19 Guides authored

2 Comments

There needs to be a way to edit the statement without deleting it and redoing the entire week. I made a data entry error into the wrong category. I noticed it on the profit/loss page, but couldn't open each week to see which week was wrong. I had to delete the entire month because the error was on the last week.

Don - Reply

There is a small link called "change" in the upper right hand side that if you click you can change just that settlement.. just be sure to re-save when you've made your revisions!

Victor -

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