Driver Settlement Software
Toro TMS’s driver settlement functionality helps you simplify, automate, & expedite driver payments. Ask us for a demo today!
Driver Settlement Software
Automate, Simplify, & Expedite Driver Settlements
Toro TMS: The fastest & most accurate driver settlement functionality
Toro TMS offers the fastest and most accurate driver payment calculation for owner-operators and company drivers, reducing the time to calculate driver settlements from hours down to minutes.
No more manual calculations! Our automated calculations save time & effort.
Say goodbye to double billing of loads due to data entry errors.
Pay drivers on time, every time.
Seamless integrations with your accounting systems (Quickbooks)
Learn more about toro tms
Why use driver settlement software?
Driver payments are easier than ever with Toro TMS.
Toro’s driver settlement functionality is an essential tool for medium-sized trucking companies to manage driver settlements efficiently.
From company drivers to owner operators driving under their own authority, streamline settlements and automate calculations with Toro TMS.
Increased accuracy
Manual calculations are prone to human errors and incorrect driver payments can lead to disputes with your drivers. Our driver settlement feature automates calculations, eliminating manual errors and ensuring accurate and consistent driver payments.
Time and cost savings
Manual payment processing is time-consuming and involves tedious paperwork. Automated calculations save time and effort for your administrative staff. Allocate resources more efficiently and reduce administrative costs associated with manual settlements.
Improved driver satisfaction
Timely and accurate payments are crucial for driver satisfaction. Toro TMS ensures prompt and accurate payments, improving driver morale, loyalty, and retention. Moreover, accurate settlements demonstrate your company's professionalism and reliability and help foster trust with drivers.
Enhanced transparency and compliance
Toro TMS standardizes expense calculations, applicable fuel expenses and deductions by applying consistent rules. This helps compliance with tax rules and other trucking industry regulations. Detailed real-time reports provide transparency between drivers and carriers, making it easier to address any discrepancies.
Key features of driver settlement software
A powerful tool to ensure timely & accurate driver payments.
The Toro TMS driver settlement solution simplifies the process of tracking, auditing and settling driver accounts from pickup to drop-off.
Automated payment calculations
Trip data from dispatch software automatically calculates the payment per trip based on each driver's hours, mileage, rate, bonus, and applicable deductions. Toro TMS ensures accurate and consistent payment calculations without manual intervention.
Customizable payment structures
Define payment rates for individual truck drivers depending on your specific company policies and accommodate different driver compensation models. Set custom rules for recurring deductions such as taxes or surcharges.
Fuel and expense management
Toro TMS has integrated fuel and expense management, which means you can track and manage fuel purchases, reimbursements, and other driver expenses. It streamlines expense reporting and optimizes the process of incorporating these costs into driver settlements.
How does driver settlement software work?
Toro TMS drives efficiency through an all-in-one solution that connects your front-office, dispatching workflow to your back-office, invoicing and driver settlements workflow. Toro also integrates with your Accounting Software, enabling you to sync directly and avoid manual entry.
Here is a step-by-step breakdown of how the driver settlement software typically works, including the data inputs and outputs involved:
Step 1: Data inputs
You start by inputting any driver-specific earnings calculations and deductions, such as loan repayments, ELD charge, fuel expenses and more. All is customizable by driver and can be turned off or on for each driver settlement, as needed.
Our driver settlement functionality picks up driver earnings and trip-specific data from the front-office dispatch software as input, including details such as miles driven, pickup and delivery locations, fuel purchases, and more.
Step 2: Calculations & processing
The driver settlement software module auto-calculates driver payment using trip data.
It deducts applicable expenses, taxes, fees, and any other predetermined deductions from the driver's earnings.
Finally, it combines the earnings, deductions, and adjustments to calculate the final settlement amount for each driver.
Step 3: Output—Payment & reporting
Toro TMS generates detailed settlement statements for each driver, providing a breakdown of the calculations toward the final payment amount. This information is editable if you find a need to adjust any earnings or deductions.
It integrates with the trucking accounting software and allows you to sync driver settlements to Quickbooks.
Hear from our clients.
“I'm probably saving 5-6 hours a week doing driver pay in Toro, compared to [our prior software].”
- Colton Cooper Logistics
“ “It makes paying drivers so much easier now that I don’t have to delete every line item the drivers don’t get paid from, like fuel and squeeze fees.” ”
Let Toro help with your driver settlement needs
No more micromanagement of driver payroll
Toro’s Trucking Management Software is a cloud-based, best-in-class trucking software for carriers with 15 or more trucks.
We specifically focus on asset-based carriers to help you manage your entire business from end-to-end—from fleet management, dispatch, and billing, to driver settlements and IFTA.
Our commitment to you is that our software will get better everyday. We work with our customers to design functionality and interface to solve their operational problems. Ask us for a free demo today to see how we can work with you.