McLeod Software, a provider of dispatch and accounting fleet management software for the trucking industry, announced Oct. 1 a new interface between its LoadMaster enterprise transportation management system and the Comdata MasterCard payment application.
McLeod says the interface will enable companies using the Comdata MasterCard to streamline accounting and reporting processes for discretionary business expenses, as well as enhance control and payment visibility in a single card program; additionally, the system provides enhanced virtual card capability for safe, secure one-time payments.
Many of today’s leading transportations companies are using the Comdata MasterCard payment application to improve control, reduce cost and streamline the procurement of routine business expenses. These financial transactions are reviewed and allocated to the appropriate general ledger account through Comdata’s iConnectdata.com website and then downloaded to LoadMaster at the end of a designated billing cycle. Organizations can choose to create a new accounts payable voucher or new general ledger distribution, along with reviewing a full history of transactions.
“Customers using the Comdata MasterCard payment application can leverage the LoadMaster interface to streamline accounting and reporting processes, eliminate redundant data entry and improve overall accuracy,” says Robert Brothers, manager of product development at Birmingham, Ala.-based McLeod Software. “This integrated solution reduces paperwork and cycle time because the interface simplifies payment and the distribution of individual transactions to the general ledger. This application is a true cost-saver and the latest in a long list of LoadMaster capabilities that streamline operations for maximum competitive advantage.”
“Comdata introduced the concept of electronic payment disbursement to the transportation industry almost 40 years ago,” says Brett Rodewald, president of Brentwood, Tenn.-based Comdata. “By joining forces with one of the leading management software providers, we can now deliver seamless data integration to our customers. The new Loadmaster/Comdata MasterCard interface allows our customers to more efficiently manage business processes for optimum efficiency, support their drivers, and improve cash flow and profitability.”
McLeod says the interface also allows LoadMaster users to issue the Comdata Virtual MasterCard on an as-needed basis for one-time purchases, instead of having to generate a check or purchase order for each transaction; LoadMaster then automatically creates a settlement deduction record for each virtual card transaction.