- 2 Minutes to read
Agreements and payables
- 2 Minutes to read
The subcontractor cost module allows you to manage records of the amounts payable to external subcontractors or individuals based on the agreements or contracts you made with them for the job you assigned to them. You can keep track of the amounts you owe them at any point in time. Once you pay an external contractor on completion of the job, you can mark the payable as 'Paid' so that the entry is moved to the 'Paid' screen. The amount is deducted from the total budget for subcontractor cost for the task, and the balance is shown in the 'Paid' screen. This helps you monitor the variance of the actual expenses from the estimated subcontractor cost for each task and plan the future expenses to complete them within the budget. The details are used for various statistics and key performance indicators displayed on the dashboards.
This page explains how to add the amount agreed upon and yet to be paid to an external subcontractor then mark the payable as paid. For details on payments made without any prior agreements, see Paid Expenses.
Use the links below to jump to the task you need help with:
Add an unpaid external subcontractor cost entry
- Open the project management console of the project
- Click 'Budget' on the top
- Hover your mouse over 'Subcontractor' on the left and select 'Unpaid' from the options
- Click 'Add External cost' at the top right
The 'Add External cost' interface shows the list of your scheduled tasks and the amounts allotted under the head 'Subcontractor' in your estimate.
- Task Code - The cost code of the task item for which the expense occurred.
- Task Name - The label of the task as in the contractor schedule.
- Progress (%) - The completion percentage of the task at the time of the payment.
- Planned cost - The amount allotted as subcontractor cost for the task item in the estimate.
- Actual Cost - The total amount of money paid so far to the external subcontractors for the task.
- Click the button in the row of the task to add a subcontractor cost payable.
- Enter the details of the payable:
- Subcontractor - The name of the supplier, seller, or vendor organization to which the payment is to be made.
- Date - Use the calendar to enter the date at which the agreement was made.
- Progress - The completion percentage of the task when making the agreement
- Amount - The amount of money to pay
- Status- The type of subcontractor cost. Select 'Unpaid' from the drop-down.
- Attachments - Click the '+' button and upload the supporting documents like the PDF version of the invoice, bill or receipt, images of the material, etc.
- Click 'Done'
- Click 'Back' at the top right to return to the 'Subcontractor Cost' interface.
The payment entry is added to the chronological list.
Mark completed payments
Whenever you are making payment to an external subcontractor on completion of the job assigned, you can move the amount from payable to paid status. The amount is deducted from the budget under the head 'Subcontractor Cost' of the task.
To mark a payable as paid subcontractor cost
- Open the 'Subcontractor Cost' > 'Unpaid' screen as explained above
- Click in the row of an unpaid cost entry to mark it as paid
- Enter the details
- Amount - Auto-populated with the amount added while creating the entry. Change it if required.
- Date - The date at which the actual payment is/was made
- Click 'Confirm'
The entry is removed from the 'Unpaid' screen and added to the 'Paid' screen.