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Contract Billing
Profit Builder Millennium's Contract Billing
module will automate all your
contract management
tasks. It is designed to handle:
- Unit price contracts.
- Fixed price contracts that require progress
payments.
- Fixed price contracts that include change
order additions.
- Client billings that require AIA format documentation.
This fully integrated module
makes it easy
to check the status of your
contracts at
any time. At the touch of a
button you can
see exactly what has been completed
and what
has been billed.
With its easy to use spreadsheet
format,
you can view all elements of
a contract,
from pay item detail for the
base contract
to the change orders-pending
or approved.
Job progress information for
billing is easy
to record by entering either
percentage complete,
units in place, or the actual
dollar amount
completed. The program calculates
the rest.
Key Contract Billing Features
- Create new contracts by cloning all or parts
of an existing contract
- Edit individual pay items
- Copy just the structure from your Job Cost
budget, and add a mark-up for each classification
- Receivable, retainage, and income accounts
are contract specific. If necessary, the
receivables account can be specified for
any given pay item
- Change orders can be easily added to any
contract
- New change orders can be tagged as "pending."
You have the option of drawing on or billing
for pending change orders as necessary
- A change order is automatically "new"
until a progress billing for it has been
entered. Its status is changed to "approved"
when the billing is processed
- Up to four sales taxes can be applied to
each pay item; or sales tax can be calculated
globally for the contract
- Retainage for work-in-place can be calculated
globally or at a variable rate for individual
pay items. Retainage on stored materials
can be held at a separate rate
- Retainage can be released prior to billing
for the final contract payment
- All contract information, including pay items,
change orders, work-in-place and billing
status, is available from a single screen
- Receivables invoice formats can be customized.
Each contract can have its own invoice format
- The billing process is streamlined. All contracts
eligible for billing are listed together
in the Receivables module. Invoices can be
edited or run as "final"
- Final invoicing automatically rolls the work-in-place
amounts to the "previous" column.
Back to Profit Builder Millennium Overview
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