Released June 12ᵗʰ
We're excited to announce significant updates to our asset financial reporting capabilities, designed to improve the way carrier and hybrid tenants view and analyze their asset financial data! This release includes comprehensive modifications and new features that enhance usability and provide deeper insights. Please note that this version only supports truck asset types.
Key Highlights
Summary Financial Report
Renamed Report: The existing "Asset Financial Report" has been renamed to "Summary Financial Report".
Updated Column Names: We've updated the column names to offer better clarity.
New Layout: The report features a new layout that improves readability, making it easier to understand and interpret the data.
Detailed Financial Report
New Report: Introducing the new "Detailed Financial Report".
Detailed Line Items: This report provides detailed line items, allowing for an in-depth analysis of financial data.
Advanced Filtering Options: Advanced filtering options are now available, enabling more precise and customizable data analysis.
These enhancements are designed to provide a clearer and more comprehensive view of your asset financial data, improving both high-level summaries and detailed analyses. We believe these changes will significantly improve your reporting experience and help you make more informed financial decisions.
Summary Financial Report (Prev. Asset Financial Report)
The Summary Financial Report provides a high-level overview of revenue and expenses related to assets such as trucks, drivers, and dispatchers. This report aggregates data over a specified period, allowing users to quickly understand the financial performance of their assets.
Renaming and Column Updates (Trucks Report Only):
Column names have been updated to provide clearer descriptions and improve user understanding.
Old | New | Description |
Tolls | Toll Amount | Displays the corresponding toll amount for all toll transactions that meets the specified date range and truck filter criteria. |
Fuel | Fuel Amount | Per truck, display the fuel transaction amount that falls within the date range filter. Only include fuel transactions where an OwnerOp has a fuel card on a truck profile, a fuel card provider links a valid truck number, or a user manually updates a fuel transaction to link to a truck number. |
Empty miles % | Deadhead % | The deadhead percentage for all transactions, calculated as (Empty Miles divided by Total Miles) multiplied by 100, for the specified date range. |
Customer Accessorials | Billable Accessorials | Customer billable accessorials for all trips within the specified date range for the truck. |
Payable Accessorials | Driver Accessorials | Driver accessorials for all trips within the specified date range for the truck. |
Linehaul | Driver Linehaul | The total line haul for all drivers across all transactions. |
Total RPM | Rate Per Total Mile | The rate per total mile for all transactions within the specified date is calculated as Revenue divided by Total Miles. |
Loaded RPM | Rate Per Loaded Mile | The rate per loaded mile for all transactions within the specified date is calculated as Revenue divided by Loaded Miles. |
No. Trips | # of Trips | The total number of trips within the specified date range |
Loaded/Empty Trips | # of Loaded/Empty Trips | It displays, out of the total trips within the specified date range, which trips are revenue (loaded trips) and which trips are non-revenue (empty trips). |
Net Profit | Gross Margin | The gross margin for all transactions is calculated as revenue minus expenses. |
Gross Revenue | Trip Revenue | Gross revenue is calculated as the sum of the trip value and billable accessorials. |
Total Trip Expenses | Total Expenses | The total expenses for trips, inclusive of factoring fees, e-check expenses,linehaul, and accessorials for Driver 1, as well as linehaul, accessorials for Driver 2, and the payable amount for the owner-operator. |
New Columns added to the Summary Financial Report (Trucks Report Only):
Maintenance Expense | The total maintenance costs for all transactions. |
Deductions | The total deductions for all transactions includes both positives and negatives. |
Reimbursements | The total reimbursements for all transactions. |
Credits | The total credits for all transactions. |
❌ Fields Removed:
Customer Revenue |
Average Revenue Miles |
Paid Empty Miles |
Paid Loaded Miles |
Detailed Financial Report
The Detailed Financial Report is a comprehensive financial analysis tool designed to provide users with detailed insights into revenue and expenses associated specifically with truck assets. It offers a granular view of financial data, presenting individual line-item details for each transaction related to trucks.
Key features of the Detailed Financial Report include:
Granular Financial Insights: Users can access detailed line-item data for each transaction associated with their truck assets, allowing for thorough analysis and understanding of financial performance.
Advanced Filtering Options:
The report offers various filtering parameters, including date range, truck fleet, and truck number, enabling users to tailor their analysis based on a specific criteria.
⚠️ The Date Range is required whenever a search is being done. If a fleet is not selected, all trucks will be displayed in the 'Truck Number' dropdown for selection.
If a fleet is selected, the user will only have the option of selecting trucks from the selected fleet.
The Summary Card:
The summary card included in the Detailed Financial Report provides users with a quick and convenient overview of key financial metrics related to their truck assets. When selected by the user, the summary card displays a concise summary of the aggregated financial data, allowing for rapid assessment of overall financial performance.
The summary card typically includes the following key metrics:
Toll Amount: The total sum of toll expenses incurred.
Fuel Amount: The total sum of fuel expenses.
Maintenance Expense: The total sum of maintenance expenses.
Empty Miles: The total sum of empty miles traveled.
Loaded Miles: The total sum of loaded miles traveled.
Total Miles: The total sum of all miles traveled.
Deadhead %: The percentage of deadhead miles in relation to total miles traveled.
Trip Revenue: The total revenue generated from trips.
Trip Value: The total value of all trips.
Driver Accessorials: The total sum of driver accessorials.
Driver Linehaul: The total sum of driver linehaul expenses.
Deductions: The total deductions for all transactions includes both positives and negatives.
Reimbursements: The total reimbursements for all transactions.
Credits: The total credits for all transactions.
Rate Per Total Mile: The average rate per total mile traveled.
Rate Per Loaded Mile: The average rate per loaded mile traveled.
Gross Margin: The gross margin calculated as revenue minus total expenses.
Trip Expenses: The total sum of expenses incurred during trips.
Columns Displayed on the Detailed Financial Report
Column Name | Description |
Date | Date of the trip |
Truck Number | Identifier for the truck |
Toll Amount | Amount paid for tolls |
Fuel Amount | Amount spent on fuel |
Maintenance Expense | Cost of maintenance |
Trip Number | Identification number for the trip |
Truck Fleet | Fleet to which the truck belongs |
Empty Miles | Distance traveled with an empty load |
Total Miles | Total distance traveled |
Deadhead % | Percentage of deadhead miles |
Trip Revenue | Revenue generated from the trip |
Billable Accessorials | Accessorial charges billable to the customers |
E-Checks | Electronic check payments |
Factoring Fees | Fees associated with invoice factoring |
Trip Value | Value of the trip |
Driver Accessorials | Accessorial charges for the driver |
Driver Linehaul | Driver's portion of the trip revenue |
Rate Per Total Mile | Rate per mile for the entire trip |
Rate Per Loaded Mile | Rate per mile for loaded portion of the trip |
Trip Gross Margin | The gross margin for the transaction, calculated as Revenue minus Expenses. |
Pick up Location | Location where the trip started (first pickup) |
Delivery Location | Location where the trip ended (Last Delivery) |
Trip Expenses | Trip Expense plus Tolls plus Fuel plus Maintenance Expense plus Deductions plus Reimbursements |
Deductions |
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Reimbursements |
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Credits |
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