AIA billings as easy as ABC

The FOUNDATION Add/Edit AIA Billings function is easy-to-use with an intuitive interface that resembles a standard schedule of values. You can enter each billing item line by line and even copy a schedule of values from another job. Define multiple sections in the schedule, each with its own title and sub-total. All rows on the schedule can easily be rearranged by clicking and dragging them where you want them.

When you post applications, your AIA is automatically updated, so each time you access the AIA, the proper amounts are reflected across the board. That means you only need to enter information about the current period.

When a billing is red-lined or needs to be adjusted, FOUNDATION’s automated Rollback function returns all values to the previous application and updates your Accounts Receivable history, the General Ledger and Job Costing, leaving a complete audit trail.

FOUNDATION supports different retainage percentages for each line item, as well as distribution of each line item to different income accounts, divisions, phases and cost codes.

Audit trail

As with all FOUNDATION modules, important information like invoice posting, transaction dates and cash receipts are saved within FOUNDATION, so you can run reports for any date range and review full, comprehensive histories to maintain the integrity of your books. Invoices can be aged by invoice date, transaction date or due date.

When you or your employees need to make adjustments, reversals or voids, all information from both the adjusting transaction and the original transaction is maintained. This creates a complete and date-sensitive audit trail. All posting logs and registers are assigned a unique identifier at the time of posting, printed at the top of each posting log and attached to the record of General Ledger transactions. The availability of transaction-source detail allows for accurate reviewing and auditing of your accounts. It also ensures that your vendor history, General Ledger and Job Costing remain in balance.

Accounts payable functions

Easy Adjustments, Reversals and Credit Memos

Part of accounting, particularly construction accounting, is making adjustments as they’re needed. Our Quick Reversal feature lets you reverse an invoice in one simple step, even after it has hit the General Ledger. And whether you’re adjusting an invoice or making a full reversal, your General Ledger and Job Costing Modules will always be updated instantaneously. This creates a full audit trail that will make your CPA happy! 

Easier Year-Ends

With FOUNDATION, there are fewer year-end difficulties. You can make adjustments to prior periods with administrative access. Like other modules, reporting is date sensitive, and user-controlled date restrictions allow you to define the current period and to prevent posting outside of that period.

Improve Collections (and Cash Flow)

Collecting payments quickly is crucial. Our A/R Aging Report gives your office the details it needs. View aging invoices by customer or job, with or without retainage, log collection notes right from the report window, or drill down to an invoice with a single click.

And if a payment becomes overdue, FOUNDATION can generate the service charges and prepare a custom statement for your customer.

Automate Recurring Invoices

If you have a customer with a regular billing, why should you have to enter the same information with every invoice? In FOUNDATION, it’s as simple as creating one billing and telling FOUNDATION how often it should occur. You can then generate all of your company’s recurring invoices with just one click.