When paying your owner operators or other third party agencies/ internal agents, it is common to set up an Escrow account to keep track of payments and reimbursements. LoadStop has features and enhancements that allow you to keep track of transactions while creating and editing settlements.

Before you assign any escrow account to a driver or agency, you first have to create an account type for them. From the main menu, go to Setup → Escrow Types. Here, you can click on ‘Create new escrow account’ , and a popup will appear. Select whether the account is for your drivers or agency, and enter a name for that particular account. Hit ‘Save’ when done.

To set up your escrow account for managed authorities (ie. owner operators), head to your driver profiles by clicking on Fleet → Drivers from the main menu and make sure you are looking at the drivers under the ‘Managed Authority’ tab.

From this list, locate the driver you wish to connect to an escrow account. Click on their name to see the driver profile. Locate the ‘Escrow Account’ tab, and turn on the toggle labeled ‘Enable Escrow’.

Once enabled, you will see a button labeled ‘create new driver escrow account’ and a popup will appear.

Once the proper information has been entered, hit ‘Save’.

Escrow accounts can also be connected to external agencies. Once all escrow types have been created, head to the agency page by clicking on the main menu, and then Agency Management→ Agencies. Click on the name of the agency to be connected, and click on the “Agency escrow accounts” tab. Turn on the toggle “Enable escrow” toggle before creating the account.

Next, click on the button labeled “Create agency escrow account setup”, and a popup will appear.

You will see several boxes:

Once the proper information has been entered, hit ‘Save’.

It might be necessary to create a starting driver balance for your escrow account. In the event of driver deductions or payouts, LoadStop can use your starting balance to maintain a record of all escrow transactions.

Once you’re in your driver’s profile, go to the ‘Escrow Account’ tab and click on ‘Create balance for driver escrow account’.

Here, a new popup will appear:

Once all information has been entered, hit ‘Save’.

Once in the agency’s profile, click on the “Agency escrow accounts” tab. Click on the second button labeled “Create agency escrow accounts”.

A popup will appear.

Once your accounts are set up, you can use your escrow account to create payments and deductions from the Settlements module.

Head to your Settlements module by clicking on Settlements → Settlement Management and click on the tab ‘Owner Operator Settlements’ and create your settlement as usual, making sure any deductions and reimbursements are properly displayed in your balances. Once you’ve made your settlement, open the settlement details from the ‘Settlement History’ page.

To use your escrow account to pay deductions and reimbursements, click on ‘Make Escrow Deduction’.

Now, you will have the option to use your escrow account to pay any extra fees associated with the account. In the settlement breakdown, any fees listed will have a button in the Reference # column labeled ‘Deduct from Escrow Acc’.

Once selected, a popup will appear for you to select which escrow account (previously assigned to the driver) you wish to use.

You can view a detailed breakdown of transactions on your escrow accounts for both owner operators and agencies.

To view a list of all balances associated with a specific escrow account, open the Balances page by clicking on Main Menu→Financial→Balances. Once there, click on the ‘Escrow Account Balances' tab.

Here, you can see the names of the drivers associated with each account, as well as their balances and associated settlements.

To view balances for your agencies, from the main menu click on Agency Management → Agency/Agency Balances. Once there, click on the ‘Agency Escrow Balances' tab or the “Agent Escrow Balances” tab .

Here, you can see the names of the agents and agencies associated with each account, as well as their balances and associated settlements.

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