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Streamline Customer Invoicing on Construction Projects
Construction billing is usually complicated in terms of progress based invoicing, contract billing arrangements, retainage arrangements, and milestone billing. Billing delays and errors can affect the project cash flow in case of using manual spreadsheets or systems that do not work together.
MetaConstructX Construction Billing Software is a centralized billing unit which enables contractors to generate invoice proposals, progress billing, and record accurate billing across projects.
What Construction Companies Require to be Efficient in Billing
- Construction project progress billing that is accurate.
- AIA conforming billing models of standardized bills.
- Retainage and contract billing are properly tracked.
- Billing in relation to job costs and contracts.
- Live track project billing and revenue.
Typical Construction Billing Problems
Billing challenges that may arise in construction companies is usually related to slowing down the collection of funds and inflate administrative tasks.
Complex Billing Structures
Milestone billing, percentage-based billing and contract-based invoices are often used in projects.
Retainage Tracking Issues
Manual tracking of retainage in projects causes errors and delays payments.
Billing Not Linked to Job Costs
Revenue visibility is low when the billing systems are not linked to project cost data.
Core Features That Control Billing Cycles
MetaConstructX allows the construction teams to control the billing processes precisely and retain full control over the project revenue.
Invoice Proposal Creation
Create organized invoice proposals prior to final billing to achieve billing accuracy.
Benefits
- Enhance procedures in billing.
- Reduce invoicing errors.
- nvoices should be approved prior to dispatch.
Progress Billing (% Based)
Prepare percentage progress billing invoices on a completed work.
Benefits
- Match billing to the project advance.
- Have a predictable cash flow.
- Ease billing in large construction works.
Contract-Based Billing
Create invoices on project contracts and terms of payment.
Benefits
- Billing Contract compliance.
- Automate the calculation of the bills.
- Reduce manual billing work.
Job Planning Line billing
Create invoices on the basis of job planning lines and project tasks.
Benefits
- Link billing and project activities.
- Improve billing accuracy.
- Count revenue on a regular basis.
Retainage Billing Support
Manage and keep track of retainage in construction contracts.
Benefits
- Maintain retainage books.
- Streamline end project billing.
- Enhance transparency of finances.
Recording Linked to Job Cost and Contract.
Join billing and job cost data and project contracts.
Benefits
- Improve revenue visibility.
- Keep proper accounting of project finances.
- Enhance improved financial decision-making.
How It Works Across the Revenue Lifecycle
Contract Setup
Import or entering of contract terms, schedule of values and billing rules and retainage percentages.
Progress Reports
Site team records percent complete, photos, quantities – information is automatically transferred to billing.
Invoice Generation
Auto implies, system calculates, approvals occur – invoice/proposal generated within seconds.
Client Submission
Submit AIA-style pay apps having continuation sheets and change orders along with backup documentation.
Payment Tracking
Track receiveables, aged amounts, retainage due and predict cash inflows.
Retention Release
Release that is at milestones or final completion that is fully audited.
Built for Construction Billing Teams
MetaConstructX aids the professionals who are tasked with the construction revenue management and they include
- Finance Teams
- Project Managers
- Contract Administrators
- Billing Specialists
- Construction Executives
