Bookkeepers have been asking for two new features within Kamion to help them be more efficient with their time: aging reports and 1099 reports.
Kamion has transformed its invoicing feature to be more robust and in consideration of the needs of our carriers. Our carriers can now register the amount paid for each invoice with this new feature. Based on this, the invoice status will be assigned:
Not paid: the invoice was sent, but no payment was identified yet;
Short-paid: the invoice was paid but partially;
Paid: the invoice was fully paid;
Overpaid: the amount paid was greater than the original invoice amount.
Carriers can now check the original amount, the amount currently paid, and the outstanding amount for each invoice. They are able to filter the invoices by status and check how long an invoice remained open until being paid or, if the invoice was not paid yet, how long it has been open since it was sent.
They are spending less time on tracking payments and more time booking loads. All of this puts control back into the hands of our Kamion customers. Not only does this create more control over invoices, but carriers will have the ability to build aging reports for their customer's debts.
Just in time for tax season, Kamion has added a new section within the truck management system to allow for a more streamlined 1099 process. These forms come with an immense amount of data, and in order for them to be accurate, carriers have to perform several necessary calculations, taking up a lot of their time.
There are many types of 1099 forms since there are various ways to earn non-employment income. In trucking, owner-operators are 1099 drivers. A 1099 driver is not a company driver. 1099 drivers pay their own taxes and must report their own income to the IRS.
Carriers must generate 1099 reports for owner-operator drivers, informing how much they paid to them in the previous year. The 1099 forms filled by the carriers also must be sent to the IRS too. It can be painful, especially for carriers with a significant number of 1099 drivers in their fleets and/or a considerable number of delivered loads in the previous year.
This new, centralized section helps carriers save the time of collecting and calculating all the data from loads and statements to help them build their 1099 forms. Kamion makes it easier by aggregating the data and showing them how much each owner-operator driver in their fleet received from them throughout the previous year. This leads to a stress-free process of filing these crucial tax documents.
Are your bookkeepers looking for ways to streamline their responsibilities and provide instant and accurate reporting? Then request a demo of Kamion!
We are logistics lifers obsessed with making carrier lives easier through technology. We give small and mid-sized fleets access to an Intelligent Trucking Platform so they can make sense and actually use their own data to improve operations. This means easy planning, zero-effort tracking, stress-free dispatching, no more safety headaches, and dedicated Carrier Consultants to guide you along the way. For more information, please visit: kamion.io.