Settlement is the daily wrap-up between a jobber and a commissioned agent, where all the money that moved that day nets down to one number owed one way or the other.
A commissioned agent runs a station the jobber owns, selling the jobber’s fuel for a commission. Because the jobber owns the fuel and the agent handles the day’s cash, the two sides have to square accounts often, usually every day.
Settlement is that squaring. It pulls together everything that happened: fuel sold, cash and card receipts taken in, rent owed, commission earned, and any other charges. All of it is added on one side and subtracted on the other until it reduces to a single figure, paid by one party to the other.
It matters because the money does not sit still. Fuel is leaving the tanks and cash is coming in every hour, on thin margins, so small errors pile up fast if no one reconciles them. A clean daily settlement keeps both sides honest and catches a shortage while it is still small enough to explain.
In useAt day’s end the jobber runs settlement on its agent site: fuel sales, card receipts, rent, and commission net to one figure the agent owes by morning.
See also Commissioned agent, Reconciliation, Jobber