It's Time to take Advantage of Progress Payments

Visual Approvals continues to add astute user-friendly enhancements to its software. Progress Payments is just the latest example. This feature has been implemented for Commercial jobs and manages the progress claim for each invoice line item.

As large commercial projects will typically generate multiple invoices per stage, a progress payment claim amount can be entered for each service fee item invoiced. Multiple progress claims can be invoiced per item (see Figure 1.0 below), however, the total value of the claim cannot exceed the value of the Amount Charged. Visual Approvals will never over invoice a service fee item.

How will Progress Payments help you?

Certifiers and accounts staff are assured of better control and clearer visibility throughout the duration of the project which, in some cases, could run from 6 months to 2+ years.

Other benefits include:

• Improved cash flow
• Ability to invoice at multiple points throughout the progress of a stage
• Continue to add service line items throughout the life of a job
• No changes to aged debtors, reconciliation or reporting as each claim is recognised as its own individual invoice

Ready to take advantage of Progress Payments?

We’re here to help! The Visual Approvals team can help with any enquiries, implementation advice and configuration for your business needs.

Contact Visual Approvals today!