Client Fuel Advances allow you to advance money to a client prior to purchasing
an invoice. This is traditionally used for fuel, but can also be used for any short
term advance. These advances are entered on the Clients screen and can be paid
back through the advances screen.
On the Clients screen, the Fuel advances tab is where you'll setup the default
settings as well as enter individual advances.
First, you can enter in the default settings which will streamline advance entry, especially if the advances have a consistent advance percentage and fees. These default settings will auto populate the fuel advance entry screen. There can be up to 2 flat fees assigned to the advance, which are taken out at the time of the advance.
After you setup the defaults, press the "Add" button to create a new Fuel
Advance. The Invoice and/or Load numbers are not required, however they will help automate the repayment process- as they will be detected when an advance is entered into the system with this Invoice or Load (PO) number.
If you are not using the Funding Workflow System, the Fuel Advances will default to "Funded" or "Ready to Fund" based on the default advance settings. If the status is "Ready to Fund", you can mark the fuel advance funded from the Clients screen, fuel advances tab.
If you are using the Funding Workflow screen, Fuel Advance requests will flow through there. Based on the 1 or 2 step choice, the fuel advance may need to be approved prior to moving to the funding screen.
There is a QuickBooks export for Fuel Advances from the posting screen.
There are a few different ways to create fuel advance repayments on an advance schedule: when a new schedule is being created, when an invoice is being keyed in, or manually on the charges tab.
1) When creating a new advance schedule, any outstanding Fuel Advances will be listed upon selecting the client. You can then select as many as you would like to automatically create a charge for repayment of the fuel advance. The charge will be for the balance of the fuel advance.
2) When entering the invoice details on a schedule, any outstanding fuel advances will be detected using the Invoice or Load (PO) number. If one is detected, you will be asked if you would like to have the charge created - if you choose yes, a charge will be created for the balance of the fuel advance.
3) If you would like to manually add a charge for Fuel Advance repayment, go to the Charges tab on the advances screen.
Here the amount defaults to the balance of the fuel advance, however you can modify it as necessary.
There are 3 reports available for Fuel Advances on the Reports menu.
"Fuel Advances (Outstanding) with Balance info" lists all clients with an outstanding balance on a Fuel Advance.
"Fuel Advances with Balance Info" gives a full history of all Fuel Advances.
"Fuel Advances with Balance Info (single Client)" provides a date range based history of Fuel Advances for a single client.
On the Client's screen, Fuel Advances tab there is a statement available. You can also enter a check number and print a check from the Client Entry screen.
We hope this article was helpful, if you have any questions or comments, please email email@example.com
We have added a new tracking feature that allows you to flag invoices as needing paperwork.
Your client can view this list on the Client Portal as well as upload the missing documents to you!
To learn more, please click on the Read More link.
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