Contract Administration Module Settings
General Settings
Do not allow Prime Contracts or Change Orders to be modified after Prime Invoices have been created.
Default/Recommended Setting: Checked
It is crucial to have control measures in place to avoid discrepancies with data especially when it comes to fixed lump sum Prime Contracts. Basically, if original contract items (aka schedule of values) and COs are imported into a Prime Invoice the item's value should not be modified at a later date especially if the transaction has already been approved and paid for by the customer. However, Sage Construction Management does offer an override so modifications to a Prime Contract or CO can be applied but this setting should only be temporarily unchecked. If it is permanently left unchecked then over or under billing can occur.
Include Pending Transactions in Previous Calculations
Select this checkbox to include amounts from previous prime invoices that are in Pending status in the Previous Total amounts. This setting applies only to invoices based on fixed lump sum and unit price prime contracts. It does not apply to cost plus contracts with or without a guaranteed minimum price (GMP).
Prime Contract Cost Plus Invoice - Import Sub Invoice Gross Total
When importing Sub Invoices into a Cost Plus Prime Contract Invoice, the retainage can be included or excluded. Please see example below.
-
Sample Subcontract Invoice:
Subcontract Invoice Subtotal = $100,000
Subcontract Invoice Retainage (10%) = $100,000 x 0.10 = $10,000
Subcontract Invoice Subtotal Less Retainage = $100,000 - $10,000 = $90,000
If 'Sub Invoices - Import Gross' is checked, Sage Construction Management will import the transaction and show the expense as $100,000 otherwise $90,000 would be the value.
Prime Contract Cost Plus Invoice Item Import Formats
Expenses are usually imported into Cost Plus Prime Contract Invoices as opposed to entering them in manually. The invoice details table for this feature has two fields (Reference and Item Description) which can be formatted automatically based on the import settings. Since Reference can be used for grouping on invoice reports, it is recommended to have a similar import setting (eg Date or Feature) so data populated in this field is consistent regardless of record type. Any changes made to these settings will not affect existing Prime Invoices, only new transactions created afterwards.
Expense Transaction Import Options:
- Procurement Module: Bills
- Procurement Module: Sub Invoices
- Correspondence Module: Work Orders
- Time and Expenses Module: Labor Timecards
- Time and Expenses Module: Equipment Timecards
- Time and Expenses Module: Misc. Employee Expenses