Ship with logs prestaged for loadingInvoicing

 

 

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CT3, Inc.
6900 SW 105th Avenue
Beaverton, OR 97008
503.646.1903 phone
503.646.2891 fax
mail: logsystem at ct3inc.com

Invoices provide an important opportunity for creating a favorable impression with your Customers.  However, not all Invoicing situations have the same requirements in the Log and Timber business.  The Invoicing Routines in LMS are designed to meet diverse challenges with ease, while still producing informative and professional looking Invoices.

When done well, the content of an Invoice and how it is laid out can be very useful to your Customer.  LMS allows you to format invoices using User-defined print styles.  Variable styles allow you to tailor an invoice to the requirements of a particular Customer or type of sale.  

Different ways of creating Invoices are also available in LMS to fit the various methods of sale.  These include:

Woods Direct Log Sales to Mills
Export or Domestic Sales from Inventory
Stumpage Sales

Inter-company or Transfer Sales

When receiving Direct sales from the woods, Customers may pay based on their own documents.  It can be difficult to reconcile Customer payments to your internal records.  LMS lets you select invoice loads to match Customer documents and adjust sales revenues where appropriate.  A number of reconciliation reports help you to quickly identify pricing and volume discrepancies with Customers.

With sales from your Log Inventory, it may be critical to get an invoice sent out immediately so payment is returned right away.   Use LMS to quickly create Invoices based on Export vessel  line-ups.   You can also invoice outbound loads for Domestic sales from Inventory.  List your Customer's receiving tickets and even display your Customer's rescale volume on an Invoice. 

If you are selling Stumpage on a pay-as-cut basis, you need to be sure that all of the timber harvested is invoiced.  LMS lets you automatically assemble timber volumes cut in a given timeframe.  Historical reporting also lets you track final Customer destinations for your Stumpage.  This allows you to assess the total impact of both your Log and Stumpage sale volumes on particular Markets or Customers.

Finally, in large organizations, it may be necessary to process Inter-company transactions.  Often, these transactions are used to transfer assets based on various forms of Transfer pricing.  LMS includes a Transfer Invoicing routine with pricing options that reflect common transfer pricing methods.  

The Invoicing modules in LMS provide you with these varied tools to insure that you can provide your Customers with what they need, and easily meet your objectives at the same time.   

Invoicing Features:

Log and Timber Invoices
Types of Invoices
Direct sales from the Woods 
Sales from Inventories - Export and Domestic
Stumpage (Timber) Sales
Internal (Inter-company) Sales between Profit Centers
User-defined "Add-on" charges may be included on each Invoice (debarking, scaling, freight, trucking, etc.), with unique Account distribution for each charge
Invoices may be generated in different Currencies (e.g., U.S. versus Canadian dollars)
GST (Government Services Taxes) may be automatically calculated and added to Invoices
Free-form comments may be added to each Invoice
Invoices can include volume from more than one contract, and unlimited line-up items for a Customer's shipment on a Vessel or barge.
Invoices may include both an Invoice Summary and Shipment or Load Details depending on how Print Style is defined by User

Customer Reconciliation

Woods Direct Loads may be individually selected for an Invoice using any of the associated ticket numbers on a Customer's payment.
Inventory Sales Amounts may be based on Customer Scale Documents, while Inventory is always depleted based on your original "Book" Inventory volume.
Load Details may show both your Ticket Numbers and Customer Ticket Numbers for cross referencing
A number of Invoice reports exist to aid in reconciling preliminary Invoices to Customer payments

Invoicing Process

Invoices may based on different tickets and units of measure than payments (i.e., pay on weight, invoice on scale)
Loads may be automatically assembled by source and time period onto Invoices for Woods Direct or Stumpage sales
Preliminary Invoices may be printed in Draft mode multiple times to visually audit contents and layout before finalizing
Invoice adjustments may be included for line item  differences, or the total Invoice amount may be adjusted
User defined Print Styles with basic types defined for Woods Direct, Export and Domestic Shipments from Inventory, Stumpage Sales, and Transfer Sales.
Invoicing frequency determined by User
Invoicing efficiency may be monitored with status and interest calculation reports

Sales Contracts

User defined description for each Product (line item on invoice)
Prices may be based on Destination, Product, Customer Sort, your Sort, Stain, Young/Old, and Species, Grade, Length, or Diameter Class.
Pricing for Transfer Invoices may be based on a combination of Procurement and Contractor Costs
Effective Date ranges
Scribner (40' or 20' segments), Tons, Load, and Metric units of measure
Use Gross or Net dimensions for Scribner scale
Logs priced on 40', 20' segments, or 20' segment only when grade changes 
Sales Contracts also used to derive Proforma valuation of uninvoiced Loads and Shipments for Exposure Reporting and Sales Accruals

System Interfaces 
Interface Log and Timber Invoices to Accounts Receivable (A/R) System
CT3 Exposure Management System, or
to your Accounts Receivable System
Create Journal Entries for General Ledger System
Sales Revenue entries
Inter-company Sales entries
Sales Accrual entries for uninvoiced loads or inventory shipments
Account Distribution Reports
Custom interfaces to your Accounts Receivable and General Ledger system

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