Receiving is a key part of a purchase order 3-way match. Whether it’s receiving commitments such as materials at the job site, recording subcontractor progress, or auto-incurring rental installments, the 4castplus receiving modules make this a quick and straightforward process that automatically incurs a cost on your projects in real-time.
Subcontractor progress tracking
Record subcontractor progress, transactions or milestones in a streamlined interface. Even record daily amounts from the jobsite. You can even optionally send an import file to your subcontractors for them to fill in (daily, weekly, etc.) and simply import that into 4castplus receiving. You can set up auto-receiving through the recurring installments feature for items such as rental equipment or fixed incremental payments.
Materials receiving, warehousing and overages
Receive materials to the job site, office or warehouse. Attach photos, waybill and packing slips along with other receipt information. Record OS&D, conditions, returns, expediting information and other notes. Enter location stored for inventory reporting and inventory drawdown. Approve overages. If more materials were sent than were committed in the purchase order, the receiver can approve or reject the overages. Enter partial receipts. Users can enter some or all of the committed amount, progress or quantity. 4castplus keeps close track of what’s been received versus what’s remaining.
Real-time vendor costs, progress and productivity
As the second part of a 3-way match, receiving is the critical step where cost is recognized on the project and seen as a pending liability or accrual. The 4castplus receiving software module is split between three main subareas: recording received materials, recording subcontractor progress, and preconfigured auto-receiving. Each of these subareas is intelligently designed and fit for its explicit purpose. 4castplus receiving is very easy-to-use and flush with controls to ensure strong financial governance and adherence to standards. Once received, the process flows smoothly to the 4castplus vendor invoice module for matching and approval of invoices. All of this includes workflows, document attachments, data integrity compliance and real-time visibility into vendor performance, project cost, revenue and accruals.