(DRAFT) Financial Management: (Coming Soon!) New Collaborator View for the Invoicing Tool

Simplified Invoice Entry & Submission for Collaborators

A redesigned 'New Invoice' page provides your contract's invoice contacts with a simplified layout, consistent formatting, and a reduced number of data entry fields to streamline the invoice entry requirements. Collaborators also have the option to save their updates as a draft to complete updates later or to simply click Send to submit their invoice for review. See Submit a New Invoice as an Invoice Contact. Automatic calculations also simplify data entry for progress billing, so your project's collaborators can submit accurate bills based on their work progress, to track work completed against the plan, while expediting payments to collaborators with regular installments.  
 

Improved Schedule of Values

Invoice contacts can update SOV entries inline with an updated column layout. Columns continue to perform invoice and contract-to-date calculations to reduce errors. The SOV allows collaborators to quickly update and track retainage on percentage-of-completion contracts. See Submit a New Invoice as an Invoice Contact. The SOV can also be configured at the contract-level to support billing for stored materials, to help you and your collaborators ensure that materials are purchased, stored, and available for the job when needed. The updated form's can also be configured to calculate retainage on an on-going, which is helpful when contracts require you to hold back a different retainage percentage for progress vs. materials. See Configure Separate Billing for Stored Materials on Contracts.

Collapsible Summary Preview

A new collapsible summary gives your collaborators the ability to preview how their data entry affects their invoice. The summary view is available when invoice contacts are viewing an invoice. 

Configure Separate Billing for Stored Materials on Commitments

For commitment contracts that require billing for stored materials, invoice administrators can now turn an 'Enable Billing Separately for Stored Materials' check box at the commitment-level. On the contract's 'Advanced Settings' tab, these new settings allow you to control how entries in the 'New Materials' column behaves from invoice to invoice. When you mark the new checkbox, you can now choose between these options:

To learn about how each option affects what your invoice contact sees in the new collaborator view, see How do I bill for stored materials in a subcontractor invoice?

Workflow

The new collaborator view works with the existing Invoicing workflow.