Contractor / Settlements
When companies have a variety of contracts to manage, ensuring payments are accurate and timely is a constant challenge. Further complicating the payment process are the myriad rate rules and pay instructions, such as advances, holdbacks and adjustments, which are an integral part of the financial process. Managing all of this payment information along with the necessary vendor information and then integrating all of this data with the enterprise financial system is a time-consuming but mission-critical component of any solid business application.
Manages contracts for activities related to forest planning, forest operations, wood supply and wood procurement. With it, you:
- Create and manage a variety of forestry contracts for service, fibre / wood procurement, timber sales, and other requirements
- Manage contracts across business areas— fibre / wood procurement, timber harvesting, timber sales, silviculture, roads, etc.
- Link costs and volumes back to planned activities
- Compare planned and actual costs
- Manage vendor/party information such as contact details, insurance status, training certification, etc.
- Support General Ledger, Accounts Payable and Accounts Receivable transactions
- Track all data-related changes through internal auditing features
- Address concerns around the Sarbanes-Oxley Act and Chain of Custody mandates.
Calculates payments and produces statements using load tickets. Incorporates contract rates and test quality data. With it, you:
- Calculate payments, advances and retro-transactions
- Generate a trial balance
- Export A/P and G/L transactions to ERP
- Create detailed statements
- Manage automatic retroactive payment adjustments, holdbacks, weight penalties, etc.