A fuel advance pays a client part of an invoice's value before the invoice itself is funded, so a driver can buy fuel on the road. It is recovered when the invoice funds.
Before you start
Fuel advances are optional. If you do not see Fuel Advances in the menu, the feature is switched off for your factor, or your role does not include it.
They also have to be enabled per client, on the client profile under Fuel Advance. That section sets:
- Enable Fuel Advance, and separately Fuel Advance Invoice and Fuel Advance Credit types
- Fuel Advance Max Percent – the most you will advance against an invoice
- Fuel Advance Min Fee
Creating a fuel advance
- In the left-hand menu, click Fuel Advances.
- Click Create Fuel Advances in the top-right corner.
- Choose the client and enter the advance details, then create it.
To load several at once, use Import Fuel Advances and follow the CSV template, in the same way as importing payments.
Following one through
The tabs across the top track the advance's life:
- Pending – created, not yet approved
- Approved – approved for funding, waiting on the Funding screen
- Open – paid out and not yet recovered
- Closed and Rejected
- All
Like invoices, an approved fuel advance is paid out from the Funding screen, where it appears with its own payment method.
How it comes back
When the related invoice is approved for funding, the outstanding fuel advance is attached and deducted from the advance. Whether that happens automatically is controlled by Fuel Advance Auto Attach in Settings › System Config › Optional Features, which can pre-select Invoice-type advances, Credit-type advances, both, or neither.
If an advance is never recovered, charge it back from the Fuel Advances tab on the Chargebacks screen.
Credit-type advances that stay Pending
A credit-type fuel advance can sit in Pending with no way to move it to Open from within the app. If you have one stuck, raise it with helpdesk@factorcloud.com rather than trying to work around it – it needs to be moved on the back end.
Related articles
- Approving Invoices for Funding
- How to Apply a Chargeback