Understanding your earning statement as a HyreCar vehicle Owner is important for tracking a rental's income and evaluating the performance of a listing.
How to Understand Earning Statements
- Log into Owner Account
- Click on "Financials"
- Choose "Transactions" tab
- Download Earning Statements as a CSV file
Key Terms to Know
Payment: This is the gross amount the Driver paid for the rental (including rental rate, HyreCar fees and insurance). Sum of all “payments” is the amount seen on the 1099 for the calendar year.
Payment refund: This is the total amount that is refunded back to the Driver from Owner's earnings for any issues (including early return due to maintenance related issues or Owner's request to refund Driver for any reason). This often includes HyreCar fees and daily insurance fees, see “adjustments” for further explanation.
Adjustment: As mentioned above, the total amount of refund issued to the Driver will be presented in Payment Refund and are deducted from the total Payment. Adjustment credits back any amount that is refunded from HyreCar’s account (For example: HyreCar insurance fees).
Transfer: This is the amount that is transferred from an Owner's HyreCar payment account into their bank account; this amount is recorded as a negative. This is the amount seen in Owner's bank account each time a deposit is received.
Amount: Gross amount charged/refunded to the Driver
Fee: Fees charged by HyreCar for the service provided
Net: Owner's net earning for the rental
Created: Date which deposit was initiated to a HyreCar payment account
Available: Date earnings were made available in Owner's bank account