The Financials tab gives you a single view of a vendor's bonding capacity and financial health. You can see how much bonded work their surety will support, how much of that capacity your contracts already use, and whether the vendor's balance sheet can support the work you're awarding.

Go to Directory, open a vendor, and select the Financials tab. It sits between Company Level Compliance and Documents.

There are two ways to get financial data into Billy.

Upload a financial statement or bonding letter. Click Upload Financial Statement/Bond, or drag a file into the upload area at the bottom of the tab. Files must be PDFs and can be up to 50 MB.

Billy reads the document and fills in the figures it finds, such as bond limits and financial metrics. Uploaded files are listed under Uploaded Financial Documents with the upload date and who uploaded them. Click Preview to view a file, or Re-extract to have Billy read it again. This is useful after you upload a clearer copy or when figures look incomplete.

Enter or correct figures manually. Click Edit Financials to add or update values yourself.

The four cards at the top summarize the vendor's bonding position.

Aggregate Bond Limit is the total value of bonded work the vendor's surety will support at one time, across all jobs. The bond underwriter sets this number.

Committed Exposure is the total of the amounts on this vendor's active contracts, across every project that isn't frozen. Contracts without a recorded amount are not counted, so make sure contract amounts are filled in to get an accurate figure. The card also shows how many active contracts are included.

Remaining Headroom is the Aggregate Bond Limit minus Committed Exposure. It shows how much more bonded work the vendor could take on before hitting their surety's limit. Below it, you'll see what percentage of the aggregate limit is already in use.

Single Project Bond Limit is the largest single contract the vendor's surety will bond. The bond underwriter sets this number too.

This chart compares what you've awarded the vendor against the limits their surety has approved. Contract amounts come from your project records automatically.

The top bar shows all active contracts measured against the aggregate bond limit, broken down by project. The bottom bar shows the vendor's largest single contract measured against the single project bond limit. It also shows how far under (or over) that limit the contract is.

If a contract is getting close to either limit, review it before awarding more work. A vendor whose surety won't back the job may not be able to provide the performance and payment bonds you need.

This section shows the vendor's financial details. Most of these figures are self-reported by the vendor and haven't been verified by Billy or the surety.

EIN / Tax ID is the vendor's Federal Employer Identification Number.

Line of Credit is the vendor's available bank credit line. This is the cushion that pays for payroll and materials between pay applications.

Current Ratio is current assets divided by current liabilities. It shows whether the vendor can cover what's due in the next 12 months. Use this as a guide: 1.50 or above is healthy, 1.20 to 1.50 is worth watching, and below 1.20 is a concern.

Working Capital is current assets minus current liabilities. It's the cash and near-cash the vendor has left to run jobs after covering the next 12 months of bills. Sureties base bonding capacity on this figure.

Net Worth is total assets minus total liabilities, or the equity in the business. Low or negative net worth combined with a large backlog is a sign the vendor may be overextended.

Vendor Reported Max Project Size is the largest project the vendor says they can handle. This number is unverified and doesn't come from their surety, so rely on the Single Project Bond Limit when making bonding decisions.

Current Backlog is the value of signed work the vendor hasn't finished yet, for all of their customers, not only you.

Backlog vs Aggregate Bond Limit is the current backlog divided by the aggregate bond limit. A higher number means more of the vendor's bonding capacity is already tied up in work elsewhere.

Committed vs Latest Revenue is your committed exposure as a percentage of the vendor's latest reported annual revenue. It shows how much of the vendor's business depends on your company.

Bank Reference is the vendor's banking contact, which you can use to verify balances and credit.

When a field shows "—" or "Not reported," the vendor hasn't provided that information. You can request it from the vendor or enter it with Edit Financials if you have it.

Revenue History shows the vendor's annual revenue as reported on their prequalification form, with the change from each year to the next. If the vendor hasn't completed that part of their prequal form, this section will say no revenue history has been reported.

For accurate Committed Exposure and Remaining Headroom, make sure every active contract has an amount entered. When a vendor sends an updated surety letter, upload it so the bond limits stay current. Watch for warning signs that tend to appear together: high backlog, a low current ratio, and thin net worth.

Email us at support@billyforinsurance.com.