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Introducing Invoice Holds

General Contractors can now track invoice traits using new Invoice Hold project settings on Oracle Textura Payment Management (TPM) solution. When a General Contractor chooses to include Invoice Hold settings, the system can place holds on payments to Subcontractors if billed amounts exceed the current contract value, billing includes stored materials, or a Subcontractor's payment is split.

When used, the General Contractor Project Manager can manage Invoice Holds on the Edit Payment Status screen. Subcontractors can see the hold status on the Contract Status screen.

Highlights

• Choose new Invoice Hold project settings to trigger:
  • An Overbilled Contract Tracking Hold
  • A Stored Materials Tracking Hold
  • A General Contractor Split Payment Tracking Hold.
• Receive a notification each time the system creates a hold:
  • General Contractors receive emails for each Invoice Hold type
  • Subcontractors receive emails for the Stored Materials Tracking Hold type.
• The Split Pay Confirmation Hold was renamed to Subcontractor Split Payment Confirmation Hold.

For more information, see the Edit Payment Status and Draw Settings help topics.

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Last Published Wednesday, August 7, 2024