Work in Progress (WIP) or Construction in Progres (CIP)
Revenue and costs are not to be recognized on financial statements as income and expense until the job is complete, or in some cases as certain milestones are completed for the job. This gives managers a more accurate assessment of financial performance.
Percentage of Completion
Invoice clients based on percentages and milestones. Get paid faster and improve cash flow.
Manage Retainage Easily
Track which clients owe your company retainage (or hold-backs) and automatically invoice them at the correct time. Keep money flowing into your business.
Receive and Track Down Payments
Easily receive a down payment for jobs (even in the field) and apply that to the balance when complete.
Create Unlimited Invoice Terms
Make it easy for clients to pay on time and reduce the headache of applying payment discounts and late payment penalties.
Automatically Calculate Early Payment Discounts
The Receive Payment system automatically calculates customer payment discounts. Save time and reduce mathematically errors.
Place clients on credit hold so that you do not miss an opportunity to collect when they call for service or warranty work. You can optionally apply a secret password to anyone on credit hold.
Print Customized Statements
Get paid faster with 100% customizable statements. We offer many ways to quickly select only the people you want to sent statements to. We even have a “Friend” feature that prevents statements or finance charges from ever being applied.
Access Finance Charges
You can easily access finance charges using numerous rules and calculation methods. If your client pays you but withholds the finance charge, you can painlessly reverse that charge on the fly.