Subcontractor Cost and Invoice Tracking
4castplus provides powerful tools for Purchase Order Receiving and Vendor Invoice Approval for a full 3-Way-Match of all committed items. Simplify and Automate much of the AP effort by consolidating the committed, incurred and invoiced in a clear and concise interface.
Real-Time Clarity on Your Accruals
Recognize Cost on your Project when it’s Incurred! With 4castplus, you no longer have to wait to receive an invoice from your vendors to see the costs show up on your project. Recognizing incurred cost gives you accurate visibility into the true actual costs at any time. This sheds a clear light on your accruals so you’re not stuck with that large unforeseen payable at the end of the project.
Office and Field Receiving
4castplus receiving modules enable your teams to enter quantities received at the time they’re actually received. Whether it’s labor, equipment, materials or other expenses, your project will be updated immediately. The system provides both Office and Field Receiving modules that make it quick and easy to enter received quantities, progress claims, progress, and labor & equipment hours. This real-time visibility is critical for cash flow planning and accrual reporting.
Full 3-Way Match
4castplus Procurement supports a full 3-way match for clear visibility and control into all your commitments.
Watch this video to get a glimpse into the 3-way match processes and modules in 4castplus. The 3-way match events are:
Committed: Commitments are created at the time the purchase order or contract is committed
Received: Incurred cost is recognized when the progress claim, quantity or hours were recorded (received)
Invoiced: When the vendor sends the invoice, the invoiced items can be matched against the received commitments
Vendor Invoice Matching and Approval
4castplus provides powerful tools for Vendor Invoice Matching against incurred or committed items. Once approved, this will negate any accruals on those items. Users can simply ‘match’ what was invoiced against what was received. Any discrepancies can either be rejected, or an adjustment can be entered. It’s so simple and streamlined, you’re finance department will fist-pumping in the halls.
4castplus also includes a powerful “AP Automation” module to electronically approve invoices so that you can further reduce costs and increase productivity of the finance department. Read more on this here.
At 4castplus we pride ourselves in our ability to integrate, share and synchronize information with your other enterprise solutions such as your finance system or ERP. You can take advantage of all or a selection of the full suite of Accounts Payable tools provided in 4castplus. All the finance functions can be shared with your finance system – whether it’s SAP, Sage, AX, Oracle or other, we can setup a direct integration to ensure that your information is synchronized across the enterprise.
More Key Features
OS&D Tracking and Resolution
Full multi-stage approvals for vendor invoices
Robust Adjustments module with auditable reversals
Corporate Calendar with Period Close Cutoff
Pre-Built and User-Configurable Accrual Reporting
Find Out More
We’d love to talk to you more about how 4castplus can make your job as a procurement professional easier and more fun. Please contact us for a free consultation to discuss your goals & objectives.