Simplify Payment Applications and Progress Billing with Cloud PM
In the construction industry, managing payment applications and progress billing can be complex and time-consuming. Cloud PM is designed to streamline these essential processes, allowing you to move efficiently from the Schedule of Values (SOV) to AIA G702 and G703 forms and directly into QuickBooks Online for invoicing. This post will show you how Cloud PM simplifies construction workflows for smoother project management and quicker payments.
What is the Schedule of Values (SOV) in Construction?
The Schedule of Values (SOV) is a critical document in construction projects, providing a detailed breakdown of costs for each phase of work. It serves as the foundation for progress billing and payment applications. With Cloud PM, creating and managing your SOV is easier than ever, reducing administrative time and improving accuracy.
From SOV to AIA G702 and G703 Forms with Cloud PM
For contractors, moving from an approved Schedule of Values to AIA G702 (Application and Certificate for Payment) and G703 (Continuation Sheet) forms is essential in handling progress billing. Cloud PM makes this transition seamless. With just a few clicks, you can auto-populate data into these AIA forms, saving time and ensuring compliance with industry standards.
How Cloud PM Connects to QuickBooks Online for Efficient Invoicing
Cloud PM integrates directly with QuickBooks Online, simplifying the invoicing process once payment applications and progress billing are complete. After preparing the AIA G702 and G703 forms, all relevant information can flow smoothly into QuickBooks, allowing for quick and accurate invoicing. This integration reduces the need for manual data entry, minimizing errors and delays.
Key Benefits of Cloud PM for Payment Applications and Progress Billing
- Time Savings: Cloud PM automates key steps from SOV through invoicing.
- Increased Accuracy: Auto-populated AIA G702 and G703 forms reduce manual errors.
- Integration with QuickBooks: A direct connection to QuickBooks Online for invoicing.
- Simplified Compliance: Cloud PM ensures all data aligns with industry standards for payment applications.
Elevate Your Billing Process with Cloud PM
Managing payment applications and progress billing shouldn’t be a headache. Cloud PM makes it easy to transition from the Schedule of Values to AIA forms and QuickBooks Online, saving time and reducing errors. Watch our video below to see Cloud PM in action and discover how it can enhance your construction billing process!