Settlement Manager Module

Calculates contract payments by matching loads with contract rates

When a load is confirmed by the Delivery Manager and brought into inventory, the contractor information for that load is passed on to the Settlement Manager. Payment according to contract terms can be made by weight, volume, or timber grade to each contractor associated with the harvest and delivery of that load. For the simplification of contract payments, the Settlement Manager can group payment processing by harvest area, vendor ID, or a number of other methods. Payment calculations are performed on demand and are assigned to an accounting period based on the batch submission date.

Assigns the range of valid General Ledger accounts and cost centers in each division's financial systems

LIMS can be integrated with a number of financial systems through the Configuration Manager. Vendor information and General Ledger accounts can be transferred into LIMS directly.

Performs audit trails and security

All transactions in LIMS are maintained within the database to provide a safe "paper trail" of all company activities. The database system also maintains an accurate, dated record of any changes made to any entry. User security clearance is provided so that only selected individuals are allowed access to company transaction records for viewing or making changes.

Handles contract advances and holdbacks and the reconciliation process

LIMS uses a bush scale estimation of log volume that is entered in the camp computers to advance payments to contractors for work-to-date in the case payment prior to the log delivery. Performance holdbacks are also calculated along with this type of contract to ensure that there will be some tolerance for error in volume estimation. Once all log volumes have been delivered, the contract payment can be reconciled based on actual scaled volume.

Uses flexible rate rules

The Settlement Manager can apply different payments rules to handle harvesting/hauling payments. Payments can be calculated using weight, volume, piece, load, grade, day, hour, etc.

• Produce and distribute vendor statements automatically
• Automated distribution by fax, hardcopy or email
• Statements formatted to your own design with your company’s logo

• Record details of checks as they are received from customers
• Select the loads paid for by each check
• Assign the amounts paid for each load
• Validate payment data entered against each load, and pass verified data to your A/R system interface
• Generate appropriate account entries for your G/L interface
• Reconcile loads delivered to customers with payments received

• Displays selected report detail over the internet
• SSL encryption for secure data transmission
• LIMS security for control of access to information and functionality
• Your choice as to which vendor staff have access and what data they get to see
• Can be customized to allow vendors to key their bids, questionnaire answers, freight data, etc.