This solution is designed to close key gaps in NetSuite for project-based businesses, helping you meet specific billing standards and improve financial management.
This solution enhances NetSuite by centralizing your contract and change order tracking on a single sales order, complete with line-level detail. It allows you to create a detailed Schedule of Values (SOV) for precise work and billing estimates. With this, you can generate invoices based on the percentage of completion for each line item within the SOV, streamlining your billing process.
Key Features:
- Centralized Tracking: Track contracts and their change orders on a single sales order. A custom “AIA Contract” field links contracts and change orders to specific sales order lines for better management.
- Detailed Schedules of Values (SOV): Define a detailed SOV for each contract or change order, breaking down the total amount by work category for accurate estimates.
- Automated Claim and Invoice Generation: Create a claim record from the project, with claim lines automatically populated from the SOV. The solution then generates an invoice from the claim, including retainage calculations and claim linkage.
- Project-level Automation: Custom buttons on the project record simplify the creation of claim records and change orders. When you create a change order, the contract page pre-populates with project details, and the SOV is automatically generated from the main contract’s scheduled values.
- Compliance and Reporting: Our system supports AIA-style invoicing based on percentage of completion per work category, using custom records. Custom scripts calculate contract summary fields, which helps generate AIA billing PDFs.