Construction Procurement Software Features - Subcontract Invoice

Progress payments for Subcontracts are processed in the Subcontract Invoice feature. Preparation of the Subcontract Invoice is, historically, a difficult and time-consuming task due to retainage (holdbacks) and calculating previous invoice amounts. However, Corecon has Billing Wizards that were designed to ease this burden dramatically. These Wizards also prevent over-billing on schedule of values and approved sub change orders which can occur when using small business accounting packages.

To use the Subcontract Invoice properly, it is important to understand the business process that transfers information from the Subcontract into the Subcontract Invoice. The table listed below explains the relationship between the Subcontract Type and Billing Method.

Subcontract Types and Construction Invoice Items:

Contract Type	Invoice Items
Fixed Lump Sum	Schedule of Values
	Approved Sub Change Orders (SCO)
Cost Plus	Cost Item Incurred By the Sub During the Pay Period (Manual Entry)
Unit Price	Unit Price Items