RedTeam Flex - Financial Management
Billing & Accounts Receivable | Cost Control & Account Payable | Planning | Adjusting Entries
19 articles
RedTeam Flex Billing & Accounts Receivable
Schedule of Values | Stored Materials | Customer billings (Pay Apps) | Customer T&M and Misc. Billing | Customer Payments (Receipts)
- RedTeam Flex - Getting Started: Financial ManagementTracking the financial progress of a job is an integral part of managing a job in progress.
- RedTeam Flex - Manage Project Schedule of Values (SOV)In construction, a Schedule of Values is a defined list of tasks that make up the work for a job as outlined in the original contract.
- RedTeam Flex - Manage Time & Materials (T&M) BillingHow to setup, add, and create Time & Material (T&M) billing
- RedTeam Flex - Manage Customer BillingCustomer billing is where you can add and note invoices, track balances and due dates, and view deposit details
- RedTeam Flex - Manage Customer PaymentsCustomer Payments are entered when a Payment has been received from a Customer against a Committed Bill.
- RedTeam Flex - Progress Billing Form G703 CW-2021When and how to use Progress Billing Form G703 CW-2021 and what features are available.
RedTeam Flex Cost Control & Accounts Payable
Time | Expenses | Vendor Invoices and Approvals | Vendor Portal (TeamPlayer) | Vendor Payments | Lien Law Documents and Claims | Job Cost Reports
- RedTeam Flex - TeamPlayer (Mobile App for Vendors)A General Contractor (GC) must coordinate with many subcontractors and Vendors throughout the life of a project.
- RedTeam Flex - Manage Vendor InvoicesA Vendor Invoice is an official request for payment by a Vendor that is providing materials and/or services for a job.
- RedTeam Flex - Entering and Approving Vendor InvoicesInvoices from your Vendors can be entered into RedTeam and routed electronically for approval based on the Approval Workflow.
- RedTeam Flex - Manage Accounting PayablesPayables are an important part of the accounting process for tracking monies owed, paid and aging.
- RedTeam Flex - Managing Vendor PaymentsHow to add, commit, edit, cancel, and post Vendor Payments
- RedTeam Flex - Manage Lien Law Claims and DocumentsRedTeam provides a process to upload and track your Lien Law documents, such as lien waivers, releases, claims, and more.
RedTeam Flex Planning
Project Budget | Estimate At Complete (EAC) (Budget Forecasting) | Work In Progress (WIP) | Financial Overview | IOR
- RedTeam Flex - Financial OverviewThe Financial Overview Report allow you to view financial details including Budget totals, Actual costs, Estimate to Complete, etc.
- RedTeam Flex - Manage Buyout At RiskHow "At Risk" is managed and adjusted.
- RedTeam Flex - Link SOV to BudgetConstruction Management At-Risk (CMAR) projects are considered open-book and changes can be made directly to the SOV.
- RedTeam Flex - Indicated Outcome Report (IOR)The Indicated Outcome Report is updated in real time to provide a full picture of the outcome based off the Schedule of Values (SOV).
- RedTeam Flex - Projects Financial OverviewThe Projects Financial Overview gives you a powerful financial tool to oversee all of your active projects and track their current progress
- RedTeam Flex - Understanding the Work in Progress Report (WIP)The WIP is a report run at the company level that synthesizes key financial information for all active projects.