Valuations, Interim Payment Applications, Payment Entry and Retention Tracking
If you have invested thousands into specialist contractors accounts software you probably don't need VIPER. However, if you opted for one of the standard accounts packages like Sage, or you do not use accounts software and Retentions are a pain then this one is for you!
Most contractors lose money year after year simply from missing retention's that are due. If you don't lose them you'll know what a nightmare it is to keep track of them without specialist "contractor" accounts software. If you do not use an accounts package, you'll also know what a chore it is to keep on top of late payers and how that effects your cash flow. General accounting software does not cater for the contracting industry. It doesn't offer pre-invoice application for payment, deduct contractors discount or retention's from invoices. What's worse it doesn't Log or notify you when retention's are due.
VIPER gives you the solution - a Contract Payments Management Control program.
- Pre Invoice "Valuations" or "Applications for Payments" can be sent to clients with variations shown separately. (The Application will automatically calculate and show, not only this application claim amount, but the total outstanding amount due for the project to date - if previous invoices have not yet been paid.)
- On approval, an Interim Invoice can be produced with the Invoicing module, the main contractors discount and retention% is automatically deducted and logged along with a retention due date.
- When a payment is received the project is also updated.
- Special reports notify you of Retention's Due, so they you don't lose money. (Entry of a retention invoice is semi-automated as it "knows" the figure to be invoiced).
- Aged Debtors reports will show overdue accounts, making it easier to keep tabs on that owes you money so that you can keep on top of debtors.
- Project Status reports keep you informed on the project situation. I.e. Original Contract Value, Additional Variation amounts, MCD deducted, Retention amount deducted, Amount Claimed, Payments Received, Outstanding Balance.
- If you use Accounts software like Sage, etc. there is an option for Invoice/Credit/Payment details to be automatically exported.