Definition
In FirstBit, progress Progress tracking and billingBilling follow the actual work done at the construction or project site. The system links on-site work updates to financial entries, ensuring that billing accurately reflects the actual progress.
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- Payment Applications
- Payment Certificates
- Progressive Invoices
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Progressive Invoice
It is a bill for the portion of work completed in a project so far, after adjusting for advance payments and retention.
In FirstBit, a progressive invoice is built through a series of linked documents:
Advance Invoice → Payment Received
Progress report → Payment Application Issued → Payment Certificate received → Progressive invoice (arrow for advance offset link) → Credit Note
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- Project Progress Report - captures the percentage of work completed on-site.
- Payment Application Issued
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- - Drafts the billing claim based on reported progress.
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- Progressive Invoice - Final invoice issued, linked to the certified amount with advances deducted.
- Credit Note
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- (if needed)
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- - Used to adjust or correct previous invoices.
- Advance Invoice- Issued to request upfront payment before work begins.
- Payment Received- Records client payment and marks it for offsetting.
Noted: The system automatically or manually deducts advance payments from progressive invoices to bill only the net payable amount.
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