Premier can automatically put AP invoices on hold, restricting payment to the sub until key documents are received. When entering in an AP invoice, if required compliances are missing, expired or nearing expiry in 30 days, the accounting team can receive an alert, hard stop or it can even put the invoice on hold so payment is withheld.
Users can configure three types of compliances and indicate if they are required:
Vendor compliances are collected from the vendor once such as insurance. Subcontract compliances are those documents required for each job such as bonds or the contract agreement. Sub payment compliances are those compliances that are required each time a sub submits billing such as a lien waiver.
Best of all, from the job dashboard, users can receive alerts when items are missing, expired or nearing expiry and drill down to view the details. You can easily configure the list of compliances making it easy to track insurance, bonds, contract agreements, lien waivers etc. Users can indicate which are required, mark them as received, track expiration dates and upload a copy and store it in the document management system.
Premier offers the most powerful, all-in-one cloud-based construction software solution on the market, helping businesses manage what’s most important – accounting and job costing.
View our brochure to learn more about Premier’s best features and how we can help you simplify your most time-consuming processes.