Page Comparison

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• A contract can have one of four statuses: Pending, Confirmed, Closed, and Canceled. Confirmed is the active status, and the only one in which you can create change orders and post payments. Pending allows you to start entering information prior to before a contract being finalized and approved.
• Retention can be applied per cost code.
• A subcontractor can have multiple contracts on one job.
• Unposted costs are reflected in committed costs in Job Cost
• A contract can be closed, even if there is retention left to be paid.

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1. Edit the approved payment amount in the Release Amount field. If the amount is changed, the Release Amount in the Contract Agreement Payables Entry will update accordingly. 

   NoteThe release amount cannot exceed the claimed amount.

2. Enter a comment in Reason Note. Select Save to close the Contract Claimed Amounts window. In the Contract Agreement Payables Entry window, you can either save the transaction to a batch or you can post the transaction.

   NoteWhen the Claimed Amount is When the Claimed Amount is greater than the Release Amount, the sub-contractor must resubmit a claim for the remaining amount. For example, a sub-contractor claims $10,000, and only $7,000 is approved. The $7,000 is released for the payment. The remaining unapproved $3,000 is recorded on the transaction and the sub-contractor must resubmit a claim for that amount.

Viewing the Inquiry Windows

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