How to Read Your Statement

Statements contain complete information for the time period they cover, and can be quite overwhelming if you don't know what you are looking at or what you are looking for. While our systems are designed to balance everything for you, it is still highly recommended you do your own reconciliation of all statements. To that end, we have put together this statement with many of the different services we provide to walk you through much of what you might see on the statement, and how it is balanced.

Part One: The Account Summary

This is a summary of all the following pages and headings. We will go step by step for each section, what is included, and how it applies to your upcoming payment due. Let’s get started, shall we?
 

The above box which appears in the top right corner tells you how much has been charged during the statement, and the day on which the statement is due to be paid. The total charges for this statement include:

• Factoring Charges
• Transactions
• Adjustments and Other Charges
• Fees
   

If you total up all the charges in the Account Summary section, you should get this number.
 

Your company information, the invoice number, and the billing period to which it is assigned. This is for an account that is on a weekly statement cycle. If any of the information you see in this section is incorrect, there are a couple of ways to manage it:
 

• Address and email can be self-served on the website or your app by going to the Settings tab and updating the information
• Your company name and billing period are specially controlled
  • The company name should match your EIN letter, if it does not, please contact support and include a screenshot of your EIN letter with the correct business name. Please note that the EIN will be matched to ensure it is attached to the company name. This is important for business credit reporting purposes.
  • The billing period is set by our underwriting department. If you desire a longer billing period, you must undergo a full, underwriting credit check. We do not perform hard pulls on your consumer report (affects your credit score), but we will perform soft pulls to view your score (does not affect your credit score), as well as reviewing connected bank accounts and other financial documentation.
     

The fastest method for assistance is always to read the help documentation, but in the event you do not see the answers there, you should utilize the Chat feature to speak with an agent. 
 

The account summary is line by line each of the following sections within the statement totaled up and balanced for the amount due on the statement due date. In this case, the balance owed is $1653.70. You reach this number by simply doing the arithmetic of the stacked line amount. Subtract where you see the ‘-’ and add where there is no ‘-’ preceding the amount. Definitions for each line:

• Starting Balance is the amount carried over from the previous statement which is owed on this statement. Some transactions settle on different statements that what they began. Other times adjustments can be made (added to the balance), or credits can be given (subtracted from the balance) which can make this number higher or lower. This is not necessarily a past due amount, and on an up to date account is simply spending or charges from the previous billing period which did not appear on that statement for one reason or another.
   
• Payments are all payments we received from you during the previous billing cycle. If you sent multiple payments, they will all be shown in the Payments section.
   
• Account Credits is anything for which we provide a credit such as a waived fee, courtesy credit, statement credit for balancing reasons (partnership specific, provisional), or promotions. If you received multiple credits, they will all be listed in the Account Credits section.
   
• Factoring Charges is specific to our clients who factor with one of our partners. If you do not receive factoring into your Wallet through one of our partners, this section will not appear on your statement. If multiple charges exist from the previous week, they will all be listed in the Factoring Charges section.
   
• Transactions is the section that will detail all of the times your card was used for a successful transaction. As mentioned previously, sometimes you use your card during one statement period but it settles in a different statement period. This is a key source of confusion since many customers are not aware of their balance seeming lower than expected, but are very aware of when it seems higher than expected. Transactions will be broken down by subcategories such as Card, Driver, and Tags.
   
• Adjustments and Other Charges is anything where we added to the balance for a specific reason. This could include an agent placing a card order for you and adding the card origination fee and/or shipping fees, it may be a late penalty, or possibly a fuel surcharge applied due to failed payments or a special credit access program.
   
• Fees are specific fees listed in the Schedule of Fees that are either recurring or non-recurring, but transaction specific, such as monthly card fees or out-of-network fees. While we post these fees in the Schedule of Fees, not everyone takes the time to read these, and different partnerships may have different fee schedules. Always feel free to reach out to us with any questions regarding fees.
   
• Ending Balance is the final total of what will be charged on your upcoming payment date. 
   

We will tally the full amount of savings collected for this statement based on the fuel sites your drivers utilized.
 

This concludes the Account Summary page.

Part Two: Payments (section)

Only one payment was made during the previous period, so only one appears here. Note the description lets you know the bank, last 4 (of Debit/Credit Card, last 4). There is a % fee for using Debit/Credit, but there are no fees for paying via bank ACH. Please note bank ACH can take up to 5 business days to post to your account depending on the bank and payment processor. Posted means the funds were delivered to our bank account, though you will see the funds removed from your account while the payment is Pending.

Something not reflected in this demo statement, but which you might see if you are utilizing the wallet and cash card, is line item transaction payments. When you use your cash card, payments are immediately entered with the transaction. So if you make a transaction for $200 with your credit card, and another one for $200 with your cash card, you will see both in the transaction portion of your statement, but the cash card purchase will also appear under the Payments section since it was immediately withdrawn from your wallet.

Part Three: Account Credits (section)

In this scenario, a promotional credit was provided. The date shown is the specific day the credit was applied to your account. Credits immediately reduce your account balance.

Part Four: Adjustments and Other Charges (section)

In this scenario, a client has utilized our Capital Funding lines for Buy Now, Pay Later. They have two installments due, and those installments are totaled up in this section. 

Part Five: Factoring Charges (section)

This line shows the amount charged for factoring one payment received. If you receive multiple payments in a week, all dates received will show here and the charges will be tallied.

 

Part Six: Fees (section)

In this scenario, a single fee has been applied for the monthly card fee. You can learn more about card fees in the Fee Schedule for your specific partnership.

 

Part Seven: Transactions (section)

In this scenario, the client has three cards, three drivers, and has partitioned each card and driver with a tag for a different region. This allows you to track spending by all the different manners in which it may be important for you to track costs and trends. As you can see, it will total up the amount paid at the time of transaction, the discount provided, and the Net, which is the amount we have actually billed you for.

Key pieces here that generate a lot of questions include the difference between the two dates, why some transactions show gallons and others do not, and what sorts of fees are being charged:

• Txn date is the day and time the driver used the card
• Post date is when the transaction settled and was added to your balance
• Gallons data is collected from the merchant, and sometimes merchants do not send all the data
• Fees would be things like a transaction fee or an out-of-network fee

Breaking these things down in this area helps you to know which drivers are utilizing our fuel network of partners, and who is not. Who is generating additional fees for the company, and who is making choices based on the best value for the company. This can be used to coach drivers on the choices they make for their stops to ensure you are maximizing your discounts and the best fuel prices.

Please also remember from above in the Payments section, your Cash Card purchases will also appear in the Transaction section. You are not being double charged for these transactions, which is why the payment shows up as already having paid for those transactions. You are only billed to your account balance for Credit purchases, not cash card/prepaid purchases.

Part Eight: The FAQ Section

Q: What if I see transactions I do not recognize?

A: You can utilize our in-dash transaction dispute system to tag each transaction you believe is fraudulent. Please see this guide for additional information: 

Q: There are transactions that should have received discounts but did not. What can I do?

A: You can utilize our in-dash missing discount system to tag each transaction you believe is missing a discount, and our agents will review it to ensure you are getting all the discounts that should be applied. If you would like more information on reading the fuel map, please view this guide: 

Q: I tried to reconcile my bill and the numbers don’t add up. What are my next steps?

A: Reach out to us immediately. We suggest going through the Chat function if it is available on your dashboard, because you will be able to provide the agent with screenshots of what you believe is incorrect. Please note that our systems are calibrated for balancing statements, so we can’t know what to review unless you indicate for us where the issue is.

Agents cannot go line by line with you on the phone or in a chat as they do not have any training in accounting. You will need to contact us, share the investigation you have done and the results of that investigation with screenshots, and it will be escalated for our engineering team to review.