Linarc streamlines the creation of your project's Schedule of Values (SOV) by tying it directly to your financials. As you build your master project budget—whether by manually adding line items or importing an Excel spreadsheet—the system automatically generates a draft SOV, mapped one-to-one with your budget.
To align your billing with your Work Breakdown Structure (WBS), you can easily reorganize this draft SOV:
- Group Budget Lines: Sort items by custom categories, such as location, floor, or project phase.
- Consolidate for Billing: Set each group as a single SOV line with a custom label to simplify your payment applications (Pay Apps).
Once organized, you must lock your completed SOV. This prevents unintended changes and establishes a secure financial baseline for the system to use in future calculations.
Impact of Budget Adjustments
Because your SOV is built directly from your budget, ongoing budget adjustments (such as shifting surplus or reserve funds) will automatically impact it in the following ways:
- Automatic Updates: Moving funds between budget items tied to different SOV lines instantly updates their respective SOV totals.
- Pay App Syncing: These updated SOV totals automatically reflect on your next generated Pay App.
- New Budget Lines: Adding a completely new budget row automatically unlocks your SOV, allowing you to map the new item to an existing or entirely new SOV line.
Background: What is a Budget Adjustment? As your project evolves, you may need to rebalance your finances to cover unexpected costs. The Budget Adjustment feature allows you to seamlessly shift surplus funds, draw from unallocated reserves, or even create new budget lines—all without altering your overall contract amount. See Modify Locked Budget to learn more.
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Set Up Your Project SOV
The SOV screen displays an initial draft automatically generated from your current budget, whether under progress or locked, to give you a solid foundation. By default, each auto-created SOV line corresponds directly to a single budget line item. From here, you can select multiple budget items, merge them into logical groups under a new SOV line with a custom label, and create as many groups as your project requires.
To access your auto-created SOV
- Click the main menu icon at the top-left of your screen.
- Select 'Owner Contract' under the 'Finance & Controls' section in the drop-down menu.
Tip: Press and hold the 'Cmd' (Mac) or 'Ctrl' (Windows) key on your keyboard while clicking to open the module in a new browser tab.
- Select 'SOV' on the left
The followng example shows an SOV from a draft budget, yet to be locked. You can also construct your SOV from a locked budget.
Column Descriptions:
- SOV Line Item: The label that appears on your payment applications and invoices. This is initially auto-populated with the budget item name until you create a custom group.
- Budget Line Item: The specific cost item derived from your project budget that is mapped to this SOV line.
- Quantity: The total amount of work planned for that specific budget line item. Applies only for budget line items assigned to you.
- UOM (Unit of Measure): The unit by which the work is quantified. Applies only for budget line items assigned to you.
- Total Budget: The total monetary value assigned to the line item, representing the sum of labor, materials, and equipment.
Search, Filter, and Sorting Options
- Click the magnifier icon and use the 'Search' box located at the top left to find an entry using any value from the table as search criteria
- Click any column header to sort the rows in ascending or descending order based on that column's data.
- Click the cog wheel icon at the top right to adjust the display density and customize the display and order of the columns
- The options at the top left allow you to filter the entries, create nested groups of entries, highlight cells and manage personalized and customized views of the table. Use the links below to learn more:
To create custom SOV lines with budget groups:
- Select the budget line items you want to group together, by selecting teh checkboxes in teh Serial Number column.
- Click the 'Group' button at the top-right to bundle them under a custom SOV label.
- Enter your new SOV label in the text box and click 'Yes' to continue.
- Repeat this process to sort your remaining budget lines into custom SOV line items.
You can configure your SOV with line items as you wish on include them in the pay apps untill the budget is finalized.
Lock the SOV Layout
While your draft Schedule of Values (SOV) is unlocked, you have full flexibility to rearrange line items and create custom groups as often as you need. However, once you are satisfied with the structure, you must lock the SOV. Locking finalizes your layout and prevents any further edits to your groups.
Prerequisite: You must lock your master project budget before the system will allow you to lock the SOV - The 'Lock' button appears on after locking the master budget.
- When you are ready to finalize your layout and generate the planned billing schedule, click the 'Lock' button at the top right of the screen.
- Click 'Yes' to confirm your action and continue.
View Fund Allotments to Scheduled Tasks
Once locked, your screen is divided into two helpful dynamic panes. These panes provide realtime metrics on progress and billing of the selected SOV items:
The Left Pane: Displays your custom SOV line items with real-time financial tracking:
- SOV Line Item: The custom label assigned to your grouped items (this appears on all planned billing and pay apps).
- Line Total: The combined monetary value of all budget line items within this group.
- Billed %: The percentage of the Line Total currently billed (this populates once pay apps are generated).
- Approved %: The percentage of the Line Total officially approved from your pay apps.
- Paid %: The percentage of the Line Total successfully invoiced and paid
The Right Pane: When you click the 'eye' icon in any SOV line item on the left, the right pane instantly updates to display all the scheduled tasks and deliverables funded by the budget line items in that specific group.
Update a Locked SOV with New Budget Items
When you create new budget line items during an adjustment, they must be added to your SOV so they can be included in future pay apps and invoices. To allow for this, the system automatically unlocks your finalized SOV whenever a new budget line is introduced. You can then map these new lines to an existing SOV group (which instantly updates its total value) or create a brand-new SOV item.
To Group New Budget Items:
- Open the project SOV
- Navigate to 'Finance' > 'Contract' > 'SOV'.
- Scroll to the bottom of the screen to locate your newly added budget items.
- Select the new budget line(s) you wish to assign, then click 'Group'.
- Choose one of the following routing options:
- Create New: Select this to create a brand-new SOV line. Enter a custom label for the new item and click 'Yes'.
- Add to Existing: Select this to move the new budget line into a group you already created. Choose the appropriate SOV item from the dropdown menu and click 'Yes'.
- Repeat this process until all new budget lines are successfully mapped to an SOV item.
The monetary values of your SOV items will update instantly, and these changes will be included from your very next pay app onward.
Note: Because the SOV is temporarily unlocked to accommodate your new lines, you also have the flexibility to reorganize your existing budget lines (moving them from one group to another)—provided the first pay app for the project has not yet been generated.
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