|The ability to meet and manage your
financial obligations to your Contractors is mandatory. Use
the CT3 Log Management System to implement an
efficient and controlled Payment process based on Contracts that provide great
flexibility in the calculation and timing of payments.
Contractors are identified as vendors. Contracts are then used to authorize payments for each setting a Contractor works on. Contract rates establish the Rate of Pay for each function the Contractor performs during a set time frame. Multiple Contractors can be paid for different types of activity on the same job or setting, each with their own Contract arrangements.
Payment adjustments may be established and automatically tracked within LMS. An unlimited number of payment deductions can be established. A specific deduction may be withheld from all of a Contractor's jobs, or just from certain individual Contracts. Unlimited advance payments may be issued and automatically recovered from contract payments as well.
Contractor payment activity is recorded for each load of logs that is produced. As load measurement data is captured, preliminary contractor payments can be reviewed and edited as many times as desired before finalizing. Edits identify loads with missing contract or measurement information, so errors can be resolved quickly. A fully automated payment process is completed by electronically interfacing finalized transactions to your Accounts Payable and/or General Ledger systems.
Contractor Payment Features:
HTML Document © 1999 CT3, Inc.