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Dividing the project into measurable phases or percentages of completion.
Submit progressSubmit Payment Applications based on Progress Reports at regular intervals (e.g., monthly) to document completed work.
Issuing Payment Applications and Registration of Payment Certificates to certify the Received from client to record certified value of work done.
Generating Progressive Invoices, adjusted for any advances received and retentions withheld.
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A progressive invoice is generated through a series of linked documents, reflecting the portion of work completed, after adjusting for advance payments and retention.
- Advance Invoice - Issued to request upfront payment before work begins.
- Payment Received - Records client payment and marks it for offsetting.
- Project Progress Report - captures the percentage of work completed on-site.
- Payment Application Issued -Drafts the billing claim based on reported progress.
- Payment Certificate Received - Approves and certifies the amount to be invoiced.
- Progressive Invoice - An invoice issued based on the certified amount, with any applicable advance deductions
- Credit Note - Used to adjust or correct previous invoices.
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