Settlement Manager Module

The Log Inventory and Management System (LIMS) Settlement Manager deals with paying your suppliers and collecting checks from your customers. Naturally, LIMS has full General Ledger and Accounts Payable and Accounts Receivable interfacing capabilities. All information can be tracked and audited to your own requirements. Whether you are looking for a forestry management system, a wood procurement system, a log accounting system or a contractor payables system, LIMS will more than meet your needs.

Learn more about how LIMS helps you manage settlement with your suppliers, contractors and customers:

Settlement handling
Vendor statement production
Sales check handling
Web access

Settlement handling

Key Features

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.

Key Benefits

The Settlement Manager maximizes the value of your contract by applying different pay rates
Protects your company's valuable information by maintaining all the transactions within the database
Facilitates the payments for logging contracts where payment is required prior to delivery

Screenshots


Fig. 1: Screen shot of Settlement Manager / click to enlarge	Fig. 2: Screen shot of Conversion Rule / click to enlarge

Vendor statement production

Key Features

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

Key Benefits

Safe time and effort over manual statement preparation and distribution
Cut down on phone inquiries by sending your vendors all the detail they need

Screenshots

Fig. 3: Screen shot of Vendor Statement production / click to enlarge

Sales check handling

Key Features

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

Key Benefits

Track customer payments load by load
Payment data stored in LIMS is available to Report Wizard for real-time inclusion in reports
Identify in LIMS loads where payment is still outstanding
Use load-by-load details in follow-up conversations with customer

Screenshots


Fig. 4: Screen shot of Sales Check / click to enlarge	Fig. 5: Screen shot of Sales Check Reconciliation / click to enlarge

Web Access

Key Features

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.

Key Benefits

Reduce time spent handling phone and email queries from vendors
Cut down on paper distribution of information
Reduce keying time by having vendors enter some of their own data

Screenshots

Fig. 6: Screen shot of Web Access portal / click to enlarge

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