Filling out the AIA-style G702 and G703 application for payment forms can be a painful process. But hey – you’re a commercial GC or sub, and you want to get paid, right? So you’re going to fight through the painful reconciliation required to fill them out no matter what, even if it means hours lost to administrative process that could have been spent on more important things – like growing your business.
What if there was a software package that made filling out the AIA-style forms easier than you ever thought possible? What if it could do all the reconciliations – including GC-requested change order consolidation – for you?
Well, it’s here and available now. Say hi to Knowify!
Knowify will allow you to complete your applications for payment in under a minute. All Knowify asks is a percentage of completion by line item and/or the dollar value of stored materials, and it does everything else. And with a powerful set of change order management tools (including e-signature), Knowify will handle all the reconciliations for you and ensure that you bill correctly the first time. Take back that wasted time – spend it on running a better, more profitable business – with Knowify!
Once the application for payment is complete, you can email it to your GC through Knowify. You’ll have access to all your client contacts and you can personalize your emails to make sure they are properly processed.
Knowify will keep track of the retainage throughout the job, even in cases where the percentage retained changes mid-stream. If you sync with QuickBooks, Knowify will make sure the retainage is properly accounted for by pushing double-sided journal entries as necessary. Once the job is complete, you can include the retainage in the last application for payment or invoice it separately with a regular invoice.