We are excited to announce the imminent release of our latest Financial Management System (FMS) update – which includes some awesome enhancements for our non-FMS accounts teams too!
Below is an overview of the updates, with a sneak peek of some screenshots. These updates are going live on the 31st May 2023 – ready for you to access and start using from the 1st June.
Clicking on the project’s Progress Payment (Payment Schedule) sub-tab, you’ll notice that the look and feel of this page has also been updated. And again, this release is more than just a visual overhaul, we have included a ton of helpful new features! So, from top to bottom we’ve added:
- An invoiceable filter search – allowing you to display specific invoiceables
- All payment sections (non-contract, deposit, payment schedule, other and variations) are displayed and accessible immediately i.e. variations can now be loaded immediately, and other sections are no longer ‘locked out’ once a payment schedule template (or invoiceable) is loaded
- The ability to create a simple one-line, or a detailed and multi-lined invoiceable – refer to the screenshot image below
- The introduction of three additional invoice statuses – unpaid, partially paid, and overpaid
- The inclusion of a clickable invoice number – with the option of listing multiple invoice number(s) or partial invoices associated with the invoiceable
- The ability to add documents and/or images to all invoiceables (including variations) with the options of adding comments (viewable to branch users and the client if given access), and notes (viewable by branch users only)
- An improved pricing summary to the bottom right
- Improved variation acceptance visuals and experience for your client
- More accessible (and easier) Payment Schedule (Stage Claim) template loading and saving
- The ability for FMS users to add Cost Centres and Categories to their invoiceables
- Improved Progress Payment (Payment Schedule) audit trail reporting
NOTE: We now refer to payment line items as ‘Invoiceables’ – which are able to be converted into Invoices and sent to the client (via Xero or your accounts team) for payment.
The ‘Invoices Out’ sub-tab – FMS Update
Opening the Invoices Out sub-tab, the first thing you’ll notice is that the look and feel of this page has been updated – more in line with other Budget (FMS) sub-tabs. But more than just a visual overhaul, users can now:
- Add and remove full, partial, and over payments
- A ‘Show Settlement Statement’ link – which displays a printable/downloadable summary of the contract total and invoiceables
- View the total number of invoices that have been sent, and credit notes issued – as well as the status of each
- Access a summary table of all invoiceables – displaying the project total, the totals invoiced, and what’s been paid and is to be paid
- The ability to filter the Invoices Out page by the:
- Scope – either by a date range or one of our handy date range pre-sets
- Status – All, All (Except Cancelled), Paid and Unpaid, Partially Paid, Paid, Unpaid, and Cancelled
- An ‘Add a Client Credit Note’ button for our ‘Charge up Clients’ who need to create a client credit note from the Budget sub-tab, without the need to do so in the Progress Payment (Payment Schedule) page
- And the ability for FMS users to easily convert their accepted client variations (from the FMS Estimates sub-tab) into an invoiceable on the project’s Progress Payment (Payment Schedule) page – via a new ‘Create Progress Payment’ drop-down menu option. This new option saves you from having to duplicate, and manually adding it, to the Progress Payment (Payment Schedule) page
NEW ‘Invoices Out’ sub-tab – NON-FMS Release
We’ve also added an Invoices Out sub-tab for our non-FMS clients! This page has a similar look and feel as the FMS Invoices Out sub-tab – but without the FMS financial integration with Xero, or the other FMS Estimating, Back-Costing, Bills In, and Budgeting sub-tabs.
Progress Payment Report Update
And finally, the Progress Payment List report has had two little, but significant updates too.
- You are now able to select an Awaiting Acceptance option. Allowing you to easily identify outstanding customer acceptances – to more quickly chase these up, and realise that income faster
- We have also updated the Pending status, of all variation and stage claim (payment schedule) items that have not been invoiced, to read as To Be Invoiced
These updates are going live on the 31st May – but for more details, and ‘How-To’ guides, check out our new FAQs via RAVE Help now.