Car Hire Accounting Offerings
Greenbrier Management Services' (GMS) Car Hire Accounting System and Services bring best-in-class proprietary, patented software supported with a dedicated team of industry experts, resulting in unparalleled car hire and rail equipment accounting solutions. Greenbrier is the largest third party logistics provider of car hire processing services, serving customers ranging from railroads (shortlines through Class 1’s) to lessors and shippers.
Car Hire Accounting System
The GMS Car Hire Accounting system is a web-based system that processes the complex requirements of car hire payables and receivables. The system has the capability to support railroads of all sizes, in addition to lessor and shipper communities.
Key components include:
- Nightly payables and receivables processing for visibility and accurate forecasting of car hire payments and earnings
- Patented car hire reclaims rules engine that maximizes reclaims a railroad can take
- Automated reclaim validation tool that evaluates all inbound reclaims and will automate the taking of counter reclaims
- Fully compliant with TTX, state reporting requirements, RCH and non RCH settlements, claims and regulatory reporting requirements.
- Creation of per diem lease earnings sharing schedules.
- Exception based processing with financial analysis tools, full suite of reports, integration to customer’s data warehouse, and predictive scenario capabilities
Car Hire Accounting Back Office Services
GMS’ dedicated staff brings an average of over fifteen years of experience in supporting and managing car hire. GMS can act as a customer’s car hire agent and manage all aspects of their car hire by providing expertise to customers in order help them through the esoteric, complex rules and standards associated with car hire. As part of the GMS services, we will train your staff in workings of car hire in order to minimize your car hire expense and help maximize earnings on your fleet.
Ad Valorem Tax Preparation
GMS utilizes the mileage data calculated from its car hire accounting system in order to report annually to the various state, county, city, and municipalities on behalf of our railroad customers. These same reports are also sent to the various car mark owners to support their required tax reporting.
GMS will, on behalf of our customers, utilize the data from its car hire system as well as data is receives from other providers to calculate and file annual Ad Valorem tax returns. The mileage information sent to the various taxing authorities are verified for accuracy based on the cumulative mileage data collected.
Once a return is filed, GMS will audit the taxation notices received from the various taxing authorities for accuracy. If there is a dispute in the amount being taxed, GMS will work the taxing authorities on behalf of our customers.
Mileage Processing and Audits
GMS captures mileage movements, waybills, trip data and utilizing our state of the art car hire accounting system determine if a move should be subject to mileage equalization, evaluate payments. Our goal is to minimize final exposure to our customers by providing timely and accurate audits of car hire mileage data.
- Mileage data from multiple sources to determine if there are mileage discrepancies and if there are missed mileage payments
- Utilize information in waybills to determine if a car is has moved on a revenue empty waybill.
- Evaluate trip data in order to determine exceptions in routes and miles traveled.
- Create excess mileage invoices and mileage equalization rebuttal bill amounts or audit excess mileage invoices and mileage equalization invoices received by customers
In-House Software Development
100% of the software systems used by GMS and our customers is built in-house by GMS employees – there is no outsourcing of development or dependency on third parties to deliver systems and service. In-sourcing this function is vital to maintain flexibility to meet industry demands and customer demands on GMS’ schedule, not the schedule of outside software development groups. Our customers wouldn’t outsource core functionality, and neither would GMS.
Interoperability with full suite of GMS services
As a GMS customer, the ability to leverage the full suite of services on the same software platform is truly unique in the industry. Car hire, mileage, maintenance, shop management, compliance, reliability analysis, logistics, all based on a unified software platform. GMS is the only asset management group that can bring the comprehensive asset management function to the customer on one system. The opportunities for data mining and reporting across functions is unparalleled.