What is meant by Subcontractor Billing?
The term "subcontractor billing" refers to the process of recording, calculating, and processing payments to subcontractors for their services rendered. This includes managing contracts, performance records, invoices, and payments between the main company and its subcontractors.
Typical software functions in the area of "subcontractor billing":
- Contract management: Recording and managing subcontractor contracts and conditions
- Performance recording: Documentation of services provided by subcontractors
- Invoice verification: Automated checking of incoming subcontractor invoices
- Payment processing: Creation and management of payments to subcontractors
- Budget monitoring: Control of subcontractor costs in relation to the overall budget
- Reporting: Generation of reports on subcontractor performance and costs
- Document management: Central storage of all relevant documents such as contracts and invoices
- Interfaces: Integration with accounting and ERP systems
Examples of "subcontractor billing":
- Billing of transport services by independent truck drivers for a logistics company
- Compensation of freelance developers for IT projects in a software company
- Billing of craftsmen services by subcontractors on a large construction site
- Fee accounting for external trainers in a continuing education company
- Compensation of freelance designers for graphic projects in an advertising agency
- Billing of cleaning services by subcontractors in a facility management company