Streamlined Payment Application Process

Our Payment Application module is designed to streamline the billing process for construction projects, ensuring accuracy and efficiency. Compatible with AIA G702 forms, this feature simplifies the preparation, submission, and tracking of payment applications.

Key Features:

• AIA G702 Compatibility: Utilize standardized AIA G702 forms for submitting payment applications, ensuring compliance with industry standards.
• Automated Calculations: Automatically calculate retainage, work completed, and materials stored, reducing manual errors.
• Tracking and Revisions: Keep track of submitted applications and revisions to maintain accuracy and document control throughout the project lifecycle.
• Flexible Solutions: Choose from a variety of pre-configured solutions to match your project’s unique requirements, enhancing flexibility.
• Integration with Billing: Seamlessly connect with our billing module to ensure consistency across all financial documents.

Types of Payment Applications Supported

Our Payment Application module supports various types of payment applications, ensuring that all your project needs are met. These include:

1. Contractor to Owner (AIA G702 & AIA G703)
2. Subcontractor to Contractor (AIA G702S & AIA G703S)
3. Cost of Work without a Guaranteed Maximum Price (AIA G702CW & AIA G703CW)
4. Cost of Work with a Guaranteed Maximum Price (AIA G702GMP & AIA G703CW)

Benefits of Using Our Payment Application Module

The Payment Application module offers several key advantages, making the billing process smoother and more efficient for construction professionals.

Advantages:

• Time Savings: Automate repetitive tasks and reduce the time spent on manual calculations and data entry.
• Improved Accuracy: Minimize the risk of errors with automated calculations and standardized forms.
• Compliance: Ensure that all payment applications are compliant with industry standards, particularly for projects requiring AIA documentation.
• Enhanced Tracking: Easily monitor the status of payment applications and revisions, providing better project control.
• User-Friendly Interface: Our intuitive interface makes it easy for users to navigate and complete payment applications without extensive training.

Frequently Asked Questions

What is the AIA G702 form?
The AIA G702 is a standardized document used in the construction industry to apply for payment. Our module is fully compatible with this form, streamlining the process.

Can I customize the payment application fields?
Our module does not support customizable fields, but we offer a variety of pre-configured solutions to meet your project’s specific requirements.

Is the module integrated with the billing system?
Yes, it seamlessly integrates with our billing module, ensuring consistency across all financial documents.

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!