π¨ Module 5 uses Project C. Make sure you are in Project C for the following steps. π¨
Review Vendor Invoice Submissions
π§ Work is underway on your project! Your vendors have been putting in work and have submitted invoices for you to review. Let's take a look!
A. Review Blackhawk Construction's Invoice Submission
Using the left hand navigation, select the Invoicing & Pay Applications module
Click into the Blackhawk Construction invoice
Review this on-system invoice
On the Details tab, take a minute to look over what information is provided by the vendor
On the SOV/WBS tab, scroll through the invoice line items. Only the line items that have been invoiced this period are displayed
Click the Funding tab to fund the invoice
Click Approve
Type YES
Add note: Approved on today's date
Click Approve
Click the back arrow in the upper lefthand corner of the page
DID YOU KNOW? π‘ You have the ability to submit each individual invoice for funding or wait to package them into a pay application. For this example, we will wait to submit our invoices for funding until we package them into a pay application. |
B. Review Legends Design Group's Invoice Submission
Click into the Legends Design Group's invoice
Review this on-system invoice
On the Details tab, take a minute to look over what information is provided by the vendor
On the SOV/WBS tab, scroll through the invoice line items. Only the line items that have been invoiced this period are displayed
Click the Funding tab to fund the invoice
Click Apply Funding
Use the dropdown to select Tenant Funding
Enter 100% of the invoice value to apply this funding source to the full amount
Click Save
Click Approve
Type YES
Add note: Approved on today's date
Click Approve
Click the back arrow in the upper lefthand corner of the page
Create Vendor Invoice Submissions
Create vendor invoice submissions for your off-system vendor. They have emailed you their invoice for the month and you will now enter it into the system.
C. Create an Invoice for North Star MEP
Click + Create New > Invoice
Select Vendor Invoice
Click Next Step
Enter the following Invoice details using North Star Invoice 001.pdf as reference:
Select Vendor: North Star MEP
Vendor Invoice ID: 6958
Gross Invoice Value: $12,510
Invoice Date: today's date
Start Date: 1st of current month
End Date: last of current month
Click Create
Navigate to the SoV/WBS tab. Here you will see all of the line items included on the North Star MEP contract to bill against.
From the North Star invoice attachment, enter in the $ values against each respective invoice line
Click Save as Draft
Navigate to the Required Documents tab and upload North Star Invoice 001.pdf as backup
Click the Funding tab to specify which funding source is paying the invoice
Click Apply Funding
Use the dropdown to select Tenant Funding
Enter 100% of the invoice value to apply this funding source to the full amount
Click Save
Click Save as Draft at the top of the page
Click the More icon > Approve
Type YES
Add note: Approved on today's date
Click Approve
Click the back arrow in the upper lefthand corner of the page
All of our invoices for the month have now been reviewed and approved! Let's continue on to the next section to create a pay application to pay out these invoices.
Pay Application Packages
D. Create an Application Package
Navigate to the Application Packages tab
Create Application Package to create your application package
Click the pencil icon next to the resulting pay application to edit the billing period. For the purpose of this training script, enter/confirm the following dates:
Start Date: 1st of current month/year
End Date: Last of current month/year
Billing Period Open Date: 20th of current month/year
Due Date: 25th of current month/year
Click Save
Click into the Application Package you just created. Take a minute to observe the information available to you on the main dashboard of the application package
Attach invoices to the application package by clicking Attach Invoice at the top of the page
Click the More icon > Mark as Reviewed and Approved at the top of the page
E. Submit Invoices within Application Package for Funding
You will now export PDF documents of your invoices by funding source so you can submit to your funding source for approval. Click Actions > Export to PDF for each
Select: A) Pay each of the Service Providers/Vendors directly within package
Take some time to look over the pdf exports
Now select Actions > Submit for Funding for each of the funding sources
Click Yes
(Make sure you perform this action for both of the funding sources)
Let's say both of your funding sources have reviewed the pdf export you sent over and have approved the invoices for funding. Click Actions > Approve for Funding for each of the funding sources
Click Yes
(Make sure you perform this action for both of the funding sources)
You will now see a green stamp that indicates these invoices have been approved for funding. One more step to go!
F. Document Pay Application Payments
Let's pay your vendors! Once your payments have been confirmed, you can mark the invoices in your application package as "Paid".
Click Actions > Pay Invoices under Tenant Funding
Fill out the following payment information for each of the Tenant Funding invoices (they may be in a different order):
Legends Design Group:
Method: Check
Payment Date: One week from today
Reference Number: 16324
Click Save & Next
Click Confirm
North Star MEP:
Method: Check
Payment Date: One week from today
Reference Number: 16325
Click Save & Next
Click Confirm
Click Actions > Pay Invoices under Landlord Funding
Fill out the following payment information for the Blackhawk invoice:
Method: Check
Payment Date: One week from today
Reference Number: NYL0694
Click Save & Next
Click Confirm
You will now notice a "Paid" status next to all of your invoices
π To document your completion of Module 5, save the files you exported in step E.1.a |
CONGRATULATIONS, you finished! You have now completed all modules of the simulated project! π The training environment you have been using is available for you to continue to learn and explore in the INGENIOUS.BUILD platform. Keep being ingenious!