Job Billing - Managing Revisions

A contract revision is an adjustment to the last draw posted on the contract, where the application for payment on that draw has been rejected.

Revisions are entered by adjusting the billing amounts, changing the percent complete, units milestones numbers against the last draw printed and posted for a specified contract. The revision produces a new version of the invoice or AIA report that prints the corrected amounts for the draw. The revisions themselves are not printed separately; rather they are incorporated into the billing numbers under the original application for payment. The new application for payment can then be sent back to the owner for approval, where the revision number printed next to the original draw number can distinguish it from the original.

The subsequent posting of the revision will generate a debit or credit note within the Accounts Receivable against the original invoice on the draw that has been revised.

Select Draw or Revision

Once in the contract header of prepare billing, enter query, select contract code from the LOV. A message will appear on the screen, "Contract XXXX has posted Draw # would you like to create a new Revision or Draw?". Select the [Revision] button.

The revision number is used to track the number of revisions made against a draw. When it is indicated that a revision is being performed against the contract, the draw number will not change, but the revision number will increment by one automatically.

That draw number and revision number will then remain active until the billing created by the revision has been printed and posted.

NOTE: A revision can only be made against the last (non-zero) draw posted.

Enter the revision details where required:

• Enter the new billing amounts for the current job bill completed amount.

• Enter the revised billing amounts by the billing type.

• Modify the current retainage amount.

• Enter the retainage to release.

• Modify the retainage percentage.

• Modify the application of taxes.