Using Advance Billing
As a Main Contractor, you can use Advance Billing to bill for an amount greater than 100%. You can also use it to bill for a negative amount on self-performed line on a payment application.
If Advance Billing is selected on the Project Settings page, the Billing Workflow shows all the line items, including subcontracted line items.
See Choose Project Settings.
If both Advance Billing and Open Book settings are selected, the View Period Request page includes advanced billing from Prime Subcontractors (once the Prime Subcontractor's payment application is received).
See View Period Request.
Why Use Advance Billing?
- To receive more money at the beginning of the project
- To see all of the Work Breakdown (WB) lines when submitting payment applications (even lines that are 100% subcontracted out)
- To easily submit a payment application for a Subcontractor—even if the Subcontractor does not submit a payment application for the period or submits a late payment application
- To create Owner billings
Last Published Wednesday, July 10, 2024