On Friday, December 18, 2020, Procore begins the first phase of a gradual rollout of the new collaborator view for the Project level Invoicing tool. On this date, this feature will be released to a limited number of Procore customer accounts. Then, over the following several weeks, the feature will continue to be rolled out to additional Procore customers until the rollout process is complete. To learn more, see Financial Management: (Coming Soon!) New Collaborator View for the Invoicing Tool.
If you are an progress claim contact who needs instructions from the limited release version, please see Submit a New progress claim as an Progress Claim Contact and How do I bill for stored materials in a subcontractor progress claim? instead of the instructions on this page.
Important! If you are a Procore customer who has purchased a custom workflow (see Procore Custom Solutions), your company account will NOT be receiving this update. This is because your project's Invoicing tool requires a customised approval path for processing your subcontractor progress claims. If you have any questions about invoicing and your custom workflow, please reach out to your company's Procore point of contact.
The term stored materials refer to materials that have been purchased prior to their planned use on a construction project. These are materials that are purchased by a head contractor and stored on the job site before they are used. Typically, each item or material is tracked on a line item in a head contract's Program of Values (SOV) and is submitted to the owner for payment.
ExampleExamples of stored materials include: Bricks, Roofing Tiles, Drainage Pipes, Sheet Materials, Cement and Aggregates.
How do I Bill for Stored Materials?
In Procore, the process of billing for stored materials on owner progress claims as follows:
- If a commitment or head contract is using a Unit/Quantity Based accounting method, the Materials Presently Stored column will not be available in owner progress claims. See How do I set the accounting method for a commitment or head contract?
- Column F: Enter the value of Materials Presently Stored for which payment is sought. The total of the column must be recalculated at the end of each pay period. This value covers both materials newly stored for which payment is sought and 'Materials Previously Stored' which are not yet incorporated into the Project. Mere payment by the Owner for stored materials does not result in a deduction from this column. Only as materials are incorporated into the Project is their value deducted from this column and incorporated into Column E (Work Completed—This Period).
- Every time you create a new progress claim in Procore, any value currently in Column F - Materials Stored will still be in Column F in the new owner progress claim. If you are incorporating those materials into the project this month, you will need to manually move the proper amount from Column F to Column E - Work Completed this Period.
- Procore allows for there to be different retention percents on Work Completed vs. Materials Stored. In the event that you do use a different retention percent on each, it's important to note that the retention value will be recalculated when you move an amount from Materials Stored to Work Completed. Here is an example where Work Completed Retention is set at 10% and Materials Stored Retention is set at 5%:
In this example, a lower retention amount was withheld on the materials while they were stored and then the full retention was taken once they were incorporated into the project.Head Contract Progress Claim 1
- $50,000 Work Completed
- $5,000 Work Completed Retention withheld
- $10,000 Materials Stored
- $500 Materials Stored Retention withheld
- $70,000 Work Completed ($50,000 from Previous + $10,000 Work this Period + $10,000 Materials Stored)
- $7,000 Work Completed Retention withheld
- $0 Materials Stored
- $0 Materials Stored Retention withheld
- Looking at the Summary Page, note that line 5B for Materials Stored Retention will only show a value if there are current materials being stored. All retention moves into Work Completed retention as the materials are incorporated into the project.