CUSTOMER BILLING FOR CONSTRUCTION

4castplus allows you to invoice clients under any contract model. For example: fixed price, lump sum, milestone, time & materials, cost plus, unit price – or even any combination of these. This flexibility ensures that contractors can handle all types of billing scenarios seamlessly, improving efficiency and accuracy in invoicing.
4castplus provides automated revenue recognition for all contract models and organizes that nicely in a comprehensive billing package. That billing package can be issued out of 4castplus, or sent to your ERP for ageing and collections.

4castplus enables you to create a Payment Schedule that reflects the planned billing milestones, holdbacks (retainage), advance payments, progress payments, etc. You can input the planned amount, date, conditions, etc. for the payment schedule.

4castplus provides endless options for billing, backup, and detailed reporting, allowing contractors to generate comprehensive documentation for each client invoice, such as progress reports, transactional reports, project summaries, resource usage, etc. With the built-in 4castplus document management system, any documents that include timesheets, field tracking, change orders, etc., are automatically accessible in the customer billing system as available to be included in billing backup.

The customer billing system ensures transparency and accuracy, making it easier to manage client expectations and provide detailed evidence for each billable item.

4castplus reduces billing effort by over 30%, eliminating common bottlenecks in the invoicing process. By automating invoice generation and integrating with your finance system, contractors can ensure timely and accurate billing, speeding up cash flow and reducing the risk of missed payments.

4castplus recognizes project revenue based on the contract model with the client. This can be: Time & Materials, Fixed Price, Unit Price, or Cost Plus. You can also structure projects with a mix of any or all of those contract models. You can even create a change order that uses a unique billing model for the rest of the project. You can set up the system to apply certain conditions to revenue recognition. For example, you may require timesheets to be formally approved before recognizing revenue from labor hours. The system also enables detailed visibility into unbilled revenue, ensuring that no revenue gets missed, and contractors can easily adjust for surcharges, discounts, or other changes to billing terms.

You can issue customer invoices from your ERP or directly from 4castplus. It’s most common to use the ERP to issue customer invoices as you can go through the ageing, collections, and direct entry to your GL, P&L, etc.

When you issue invoices from the ERP, 4castplus will send the invoice package to the ERP once the customer invoice is approved in 4castplus. It will automatically send the invoice data to the ERP and notify AR to process it.

4castplus provides real-time visibility into WIP both at the individual project level, as well as globally to report on unbilled revenue across the enterprise. Additionally, 4castplus will also provide visibility into potential revenue that has been booked but not yet recognized.