Company Escrow Accounts

Company Escrow Accounts are specific to Payroll, and setting up and maintaining escrow accounts for Drivers.

If You Set Up Escrow Information In Payroll Setup:

Reports:

The escrow account balance is listed with the Year-To-Date (YTD) figures on the payroll settlement report. There is also a detailed escrow report which can be printed for all drivers, or for an individual driver.

  1. Display the Payroll window as outlined in About Payroll.

  2. Click the Reports button located on the Payroll toolbar.

  3. From the Reports pulldown menu choose Detailed Escrow Report.

Interest:

You can set up The Truckers Helper program to calculate and post interest to a drivers account.

  1. Set up the escrow interest in Payroll Setup.

  2. Display the Income & Expenses window as outlined in About Income and Expenses.

  3. Click the Functions button located on the Income & Expenses toolbar.

  4. From the Functions pulldown menu choose Post Escrow Interest.

To Pay Out A Drivers Balance:

  1. Display the Income & Expenses window as outlined in About Income and Expenses.

  2. From the Payment Type pulldown list choose Liability.

  3. From the Charge To Account pulldown list choose Driver Escrows.

  4. Enter the Driver Code.

Note: Drivers Escrow is set up as a liability account by The Truckers Helper program. Postings from payroll are Type = Liability, Charge To Acct = Driver Escrows.

Note: You MUST use the Driver Escrows name for this type of account. This name is added to your Charge To Accounts the first time you set up a driver for escrow deductions in Payroll Setup.

Escrow Accounts For Drivers and Owner/Operators Leased To A Company:

For information on escrow accounts for drivers or owner/operator leased to a company see also Escrow Accounts.