Streamlined project purchase orders to invoice process
Raising purchase orders via mail, tracking budget commitments, and tracking order payment summaries on separate spreadsheets takes a lot of back-and-forth reporting and double-checking. Planyard helps you standardise the process so you have all the numbers up-to-date, without the need of double data entry.
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Easy project purchase order creation for all the team members
Planyard’s e-mail-like feature for creating purchase orders is easy, everyone will be able to issue purchase orders without any prior training.
Set up the whole team with appropriate user rights to raise the purchase orders on Planyard, including project managers, quantity surveyors, and site engineers.
Let Planyard automatically add your standardised purchase order terms, such as where to send the invoices and to include the purchase order number as a reference on the invoice, to the purchase order PDF file.
Track the committed costs against the budget
Once the order is placed, Planyard automatically updates the project budget and highlights instances when the committed costs of a budget item exceed the budget. This means you can identify risks for over-expenditure before the invoices arrive and prevent negative financial surprises at the late stages of the project.
If you have structured your project budget by phase, you’ll know whether the first phases of the job are profitable when raising the orders.
So when you do your first project cost control meeting, even before the invoices arrive, you’ll already know how the first phases of the job are performing.
The purchase order numbers make the invoicing process easy
Suppose the purchase invoices contain the purchase order number as a reference. In that case, once the invoice lands in your accounts payable email, Planyard OCR extracts the invoice data. Consequently, Planyard automatically links the invoice with the purchase order, so there is no need to sort the invoices manually.
Once the project manager processes the invoice, he or she opens the invoice, which is linked to the right project and correct purchase order, as well as the purchase order payment summary.
Avoid overbilling the vendors
To process the invoice, the project manager selects the corresponding order, checks the amounts previously paid and the remaining amounts, and reviews whether what was ordered matches the amounts invoiced.
Once everything is correct, approve the invoice and Planyard will automatically update the budget and purchase order payment summary. The invoice will be stored under the costs tab, and automatically create a ready-to-process invoice in the accounting system, such as Xero, Quickbooks, MYOB, Sage, and more.
No more unexpected project late-stage invoices, messing up the margins
All your project purchase orders are now on one list, where you’ll have a clear overview of the value of raised orders, how much is paid, and how much remains.
Once the project ends, check if the bills have been paid and orders have been closed. So, it’s time to take a break and enjoy meeting the project’s financial targets.
Planyard in 2 minutes
Benefits
Know whether a project makes a profit or not before it finishes
Save 3-5 days per month per project manager
Standardize the processes and ensure compliance
Detect estimating and design errors
Get rid of manual calculations and copy-paste
Don’t let things fall through the cracks
Built for project managers.
You don’t have to spend weeks learning it. It works the way project managers actually work.
- Estimate, track and forecast your budget.
- Collect bids, progress reports, change orders and invoices from subcontractors.
- Keep everything interlinked.
- Follow your project profitability in real time.
- Keep accounting automatically in sync.
Works for the management.
Standardize your cost management processes and ensure compliance across the company.
- Get a real-time overview of your entire project portfolio.
- Keep all the data in one tightly integrated system.
- Forecast profitability and cash flow.
Planyard integrates with your existing tools
Work from anywhere with our mobile apps
First class support during and after implementation
Dedicated account manager
Email and chat support
Support center with how-to artiles and videos
Functions
Bid collection
Easily prepare and send bid requests to subcontractors. Quickly evaluate RFQs next to each other, request bids adjustment via multi-round bidding, and convert the winning bid to a contract with one click.
Budget management
Full overview of all the transactions related to your budget. Drill down to job phase or line-item level to see whether you are on track to profitability.
Contract and change order management
Link contracts with the budget, pay applications and invoices. Manage change orders as part of contracts.
Progress reporting
Collect progress reports from subcontractors. Avoid errors through automatic interlinking of progress with previously done work and the budget. Approve them with one click.
Invoices management
Stay on top of your project invoices without creating folders, printing papers or sending back and forth emails.
Subcontractor billing
Let subcontractors invoice you after you’ve approved their progress reports. Connect invoices automatically to the right job and project.
Approval workflows
Send subcontractor progress reports for a round of additional approvals within your team.
Forecasting
Stay on top of your project costs and profitability forecasts in real time at every stage of the project.
Cash flow control
Track your projects’ month-over-month cash flow and take immediate action when you see that the monthly approved expenses are about to exceed the income for a given project.
Our customers about us
“I wanted to escape the spreadsheets, escape the manual data entry, and look for ways to stay on top of the budget numbers. It’s challenging within a development company to keep on top of your numbers.
So I came across Planyard in a search to improve the budget management processes and, to make my own life easier.
Planyard does that, and it takes your project budget and puts it very clearly on screen for you so you have a live real-time picture of where your project budget is at any given point.”
Ian Holford
Manager, Higgihaus Developments
Bristol, UK
“I have been working on cloud accounting tools like Xero and QuickBooks which are excellent, but they don’t have a specific construction-based costing tool.
Construction companies rely on expensive quantity surveyors and project managers to do a lot of data input on packages such as Excel which takes them away from focusing on value-added activities and driving the profit growth.
When I came across Planyard, I was relieved that there was finally a solution to this problem. Quotes, subcontract orders, purchase orders, invoices, progress bills, etc are put on the system and it’s linked directly to the budget, CVRs, subcontractors, and the suppliers. This is making people’s lives a lot easier. Data is at hand, it’s automated and it gets everyone away from the out-dated requirement to fill out spreadsheets.”
Paul Howarth
ACMA & CGMA, Director, Live Management Accounts Ltd
Manchester, UK
“I would say that Planyard is a great way to easily and conveniently track your job costs in one place. It keeps track of all of the documents and the numbers in one place.
If there’s some problem with the budget, it just tells you what you need to fix and you’ll be fine. It really just kind of thinks a step ahead for you.”
Jordan Cohen
Partner, TITN Development
Florida, US
“We save four working days each month per project manager. The biggest efficiency booster came from getting rid of duplicate data entry.”
Marek Korbelainen
Head of Construction, Kaamos Group
Tallinn, Estonia
“We wanted to know before a project finished whether we were going to make a profit or not. Planyard has allowed us to do that. We can see exactly which jobs are profitable and which ones are not, so that we can make changes on the go.”
Tomy Saaron
Member Of The Board, Hausers
Tallinn, Estonia
A selection of projects built using Planyard
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