Definition

In FirstBit, progress tracking and billing 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.

Progress tracking refers to monitoring the actual work completed on-site. This is typically captured in a document called a progress report, which reflects the percentage of completion for different tasks.

Based on this recorded progress, the team generates billing documents such as:

• Payment Applications
• Payment Certificates
• Progressive Invoices

To align billing with project cash flow, the process also factors in advance payments received earlier.

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

• Advance Invoice: Issued to request upfront payment before work begins.
• Payment Received: Records client payment and marks it for offsetting.
• 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 - Final invoice issued, linked to the certified amount with advances deducted.
• Credit Note -(if needed): Used to adjust or correct previous invoices.

Noted: The system automatically or manually deducts advance payments from progressive invoices to bill only the net payable amount.