How to set a a monetary threshold to trigger collection of Material Vendor Lists and Schedule of Values Continuation Sheet from Subcontractors
Go to Accounting>Billing>Billing Requirements
Use this feature to set a default value for when you will collect either a Material Vendor List or a Schedule of Value continuation Sheet from your subcontractors
Both of these items require you to set a dollar value in the cells. Any Contract that EXCEEDS the value you enter here will be asked to complete one or both of the forms. Subcontractors with contracts below these values will not be asked to complete the forms.
If you do not wish to collect these form, set this value extremely HIGH, higher than any contract you would expect to write so that no subcontractors will be asked to complete these forms. Setting at $0.00 will require EVERYONE to complete the forms.
Material Vendor List
If you require a Material Vendor List, the subcontractor will be asked to enter the vendors basic information and the type of material they will purchase as as well as a rough dollar amount. They will be able to enter as many vendors as needed and then submit the form to you.
When submitted, these forms will appear and be stored in the project under Briefcase>Required Documents. This document does not require an approval by the GC so subcontractors will be permitted to proceed with sub billing after submitting this form.
If the GC wishes to return the Material Vendor List to the Subcontractor for edit, an Accountant can go to Briefcase>Required Documents inside the project and click in the Edit column to change it from No to Yes and follow the prompts to send the notification to the Subcontractor.
Example Material Vendor List Form
Sub Billing Schedule of Values Continuation Sheet
If you wish to collect a more detailed breakdown of how the Subcontractor will be allocating and billing the awarded funds, you will want to collect the Sub Billing Schedule of Values Continuation Sheet. For this form the subcontractor will be shown the total award amount and will be asked to itemize the values with a more detailed description. Once they have accounted for the full award amount, they will be able to review and submit the schedule to you.
This form must be be Approved by a Project Manger before the subcontractor will be permitted to submit their first Pay Application. Once accepted, this itemized layout will become their billing format. These forms can be reviewed and Approved by Project Managers at Accounting>Billing>Approve Sub Billing>Sub Pay Schedules
Click the subcontractor name and project to open the submitted form
If you disagree with the way the form has been completed, you will be able to request that the subcontractor edit the form. You will be able to enter information about how you would like them to revise and then resubmit the form then choose Request Edit. They will be able to correct and resend for approval.