All Collections
Getting Started
Cycle and Revenue Types Configuration
Cycle and Revenue Types Configuration

Step-by-step instructions on how to set up settlement cycles, define default driver pay rates, and customize revenue types.

Updated over a week ago

Welcome to the Vektor TMS platform! To ensure a smooth operation, it's important to configure your settings correctly from the start. This guide will take you through the essential settings that influence your operations, focusing particularly on settlements and driver pay.

Step 1: Access Your Vektor TMS Dashboard

  • Log in to your Vektor TMS account.

  • Navigate to the dashboard. This is your central command for managing your trucking operations.

Step 2: Configure Company Settings

  • Go to the 'Settings' section within your dashboard.

  • Review and update your company information – most of this should be pre-filled, but it’s good to double-check.

Step 3: Set Up Your Settlements - Revenue Types and Payroll Cycles

  • Within 'Settings', find the 'Cycles' or 'Revenue Types' subsection.

  • To adjust your payroll cycles:

    1. Choose whether to run a single cycle or multi-cycle payroll. Most users start with a single weekly cycle.

    2. Create a new cycle (for example, 'Weekly Payroll'):

      • Define the length of the cycle (e.g., one week).

      • Set the closing day (e.g., Monday) and time (e.g., 12 PM).

      • Establish the pay date (e.g., Thursday three days post cycle close).

    3. Enable 'Auto Create Period Settlements' to have periods and settlements automatically generated.

    4. Set this as your default cycle so all new drivers will be assigned to this schedule.

Step 4: Add Your Default Driver Pay Rates

  • Go to the section for driver pay, usually located within 'Settings' > 'Payroll'.

  • Here you’ll input how you compensate your drivers; for instance, you can set a rate of $0.60 per mile.

  • Create revenue types for different compensation methods, like per load or per mile.

Step 5: Create Other Revenue Types Like Owner Operators

  • For additional revenue types, you can create one (e.g. owner operators), you can set a percentage of the load they will receive (e.g., 85%). The revenue types have different revenue sections you can choose from to tailor that revenue specific to driver group.

  • Define any adjustments, such as automatically deducting tolls.

Step 6: Configure Attached Documents

  • Specify which documents are included with settlements (e.g., rate confirmations).

  • You can choose to remove certain documents if you prefer not to share them with your drivers.

Step 7: Save & Review

  • Save all your changes. Make sure to review everything to ensure accuracy.

  • Remember, these settings are templates that will be applied to drivers automatically, saving time in future operations.

Conclusion & Next Steps

  • At this stage, no drivers are assigned to the cycle you've created. This will be addressed in a subsequent session.

  • By setting up your defaults now, adding drivers and trucks later will be more efficient as they can inherit these pre-assigned settings.

Did this answer your question?