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Aia invoice form for Security

okay that makes two o'clock eastern which means noon mountain time which means it's starting time for the webinar today i just want to thank everyone yet again for joining in to our webinar series uh today's topic is going to be on style invoicing which is definitely one of the most popular topics when it comes to using note5 for those of you who don't know me my name is taryn callion i have been working with noah five for five years and then the director of our customer experience team so basically anything that has to do with nullify and uh you know people using nullify uh i'm gonna have my hands in it somewhere along those lines and just to give you a little bit of an overview on what we're covering in today's webinar first i just want to at a high level beyond notify give you guys a little bit more information about what style invoicing is uh for those of you who use it often uh it's probably just gonna be a refresher you know not any additional information you need uh but a lot of people you know have heard a lot about invoicing and they just want to learn more about you what is this uh you know invoicing style that has become so popular in the past couple of years i'll also show you briefly how to enable this in your account in case it's something that you don't have in your account today um it's a very simple setting in your admin section and then you know in our actual demonstration i'll be showing you how to set up a project for invoicing uh and how to then invoice that project uh that'll also include how to invoice the retainage for a project uh you know obviously that's a big part of invoicing is tracking the retainage um and you know how much uh basically needs to be built to the customer how much they're withholding at any point in time uh and as always we'll be ending this series with a q a just to give you a little bit more information on anything i didn't cover again feel free to submit questions while i'm going through uh the demonstration part of this webinar um and then we'll also do the q a at the end so you know if you have the question mid demo go ahead and submit it if it only comes up at the end you can submit it then i'll be answering every question that's submitted into zoom's q a section but first i want to talk about you what is style invoicing i'm just going to pull up my account here but basically invoicing is an invoice style that was developed by the to communicate to your customer how far along you are on the project you know a lot of people are familiar with the idea of progress invoicing uh but what invoicing is doing a little bit differently is telling a little bit more of the story beyond here's the percentage of the contract that we've invoiced today you know it's saying here's how much we're requesting uh out of our contract value but here's also what we're requesting it for and that's when we'll get into more detail on things like uh you know stored materials uh when we're creating our style invoices and a lot of you may also be familiar with the other terminology which is the g702 and g703 form which is the actual invoice document that is generated when you're doing invoicing uh but now back to notify i just to show you how to turn this on your account in case you don't have it enabled yet i can go to my admin section i can come to customize and one of our first settings up here style invoicing also known as pay applications and this can just be enabled here it's going to ask about default invoicing style i'm going to walk through what each of these does when i'm creating my invoice my first invoice in this demonstration um so you'll get a little bit more information about this but uh you know for referring back to later on once you know which of these is the correct uh style for you you can come to your admin section and make it so notify automatically starts on the invoicing style you want uh so you don't have to reset this whenever you're creating a new invoice um but first uh you know i'm gonna set up the actual contract in nullify uh and i'll do that just like any other job i'll come and say add new contract job project 1751 you know this information not as relevant this is just classic notified demo and once we have that setting turned on in our admin section you can see that we have fixed price with billing as one of our contract styles now setting up these contracts is actually almost identical to setting up our standard fixed price contracts so if you're familiar with you know this type of contract in novi it doesn't require too much extra knowledge to set these up as well next it's asking about job costing style again i won't get into too much detail because that's more classic notify but you do have the option to select between these three options uh as opposed to cost plus where you're defaulted to advanced since we're only focusing on billing and not the you know whole budget bid track invoice flow of notify i'm going to choose simple simple is always the best option if you're mainly focused on the contract in notify and you're not as concerned about detailed job cost reporting i'll go ahead and set an address because i always do and i'll save this job now the first thing that we're going to be setting up here is our you know we'll call it the bid and nullify and this is going to be just the uh total value that i'm quoting to my client uh when they request for a bid uh say yo i need you to do x y and z and i send back here's how much we can get this done for uh there's information like who you send this bid to uh i always use my example of hector cerrone uh if they sent a request for proposal reference number you can put that in so it can be included in your uh proposal or your bid that goes out again you can always uh write in a description of the project but this is where everything's really gonna come into play uh when we're actually setting up the bid and that's gonna be building a series of line items so for those of you who are familiar with the you know invoicing process this is really going to be where we're building our schedule values and i'm going to show you later on how this doesn't have to be a final schedule values you know if you're truly using nullify to send out your bids get that e-signature like we have nice and built in but then the customer sends you a different schedule values that they want you to invoice along we have a feature for that and i'll cover that a little bit uh later in this demonstration i'm gonna start really simple i'm gonna make a three line item contract where i'll say um you know ruffin we're gonna do this for four thousand dollars installation for seven thousand dollars and i'll call this finishing for three thousand uh if you want more detailed information on building out contracts i highly recommend checking out our webinar from earlier this week it'll be on youtube eventually where uh we just covered general creation of fixed price contracts but again today i really want to focus more on voicing so i'm not going to spend too much time building out bids and showing that type of detail for what it's worth i will show you that this does generate a very similar document to our standard fixed price proposal uh you know it just includes the pricing so when you send this to the customer they're looking at this 14 000 they're probably interested in your breakdown but this is going to be their main priority a lot of the time i'll skip the e-signature and just go ahead and make this active so what we can do now is start the actual process of building out invoices now one thing that is different between the standard fixed price and the in notify is that before you create invoices you do need to fill in a couple last uh fields which are gc contract number and contract date and then if necessary retainage i'll go ahead and fill these in i'll put in the other date of the gc's contract i'll put in the retainage uh and once i save this now we're ready to start building out our invoices uh for this job just like any other job pretty straightforward i click invoice now you'll see that right off the bat it's different from your normal invoicing screen nullify uh where it's gonna first ask us for the date of the billing period now basically it's saying you know what date are you invoicing for all the work done through so if i am invoicing for everything that i've done up until today i could say the 27th but i can also say well this invoice is actually for everything i've done through the month of august so i'm going to choose the 31st and i'm basically saying some of the money that i'm requesting in this pay application is for work that i haven't done yet now when we set this up uh the default uh invoicing style is going to be completed work in a percentage you know classic progress invoicing and stored materials in dollars this is the most common way we see people invoicing for the format and the idea is that i can say my rough-in you know i'm 50 complete with it and i'm holding on to a thousand dollars in materials uh the other option here is that if we want we could do the whole thing in dollars sometimes people like to get more exact with their numbers and the percentage may round differently than they want or anything along those lines so this option of entering completed work in dollars and stored materials and dollars just gives you a little bit more control over the exact number you're billing if you need that and then a lot of people don't even use the stored materials they just find that their customers like the format and they just want to make your percentage of completion this last option uh doesn't even do classic progress invoicing because i would just say you know we want to build a thousand dollars uh and it's just a simpler way for me to write in you know how much i want to build out of each line item today uh and then you know in our classic progress invoicing we would come back to this and to build the next thousand dollars i would say 2 000 to say the total completed uh you know to date but in this case i'm truly just invoicing you know the exact number that i want to build in this period i'll just plug that in but i'm going to do this whole demonstration in the percentage complete and the stored materials uh in dollars kind of our as i keep calling it the classic format for invoicing now uh what when i say stored materials and this is something that i i find is often not the clearest thing on this form we're not talking about oh well this is how much we're billing for how much we spent on materials and here's how much is labor because at the end of the day you want completed work to finish out at a hundred percent uh to show that you've completely come you know finished the work on this line item but the amount of completed work plus stored materials can't exceed the amount that you have quoted to the customer so basically we are going to end up in the situation where when i invoice stored materials let's say i am invoicing four thousand dollars in stored materials this means that later on i'm gonna take this balance and i'm gonna move it into the completed work as i use these materials so basically what you're doing in store materials is saying here's money that i'm requesting but i'm not telling you that i've done the work i'm just saying here's some money i would like up front to start the job uh and before i get into too much detail on that i'm actually going to create an invoice just so you can see in a little bit more detail what i'm referring to here where i'll say this is 25 complete and we're holding on to 2000 materials and this one i'm going to say half of its store materials we haven't started the work and i'll go ahead and finalize this now one thing i'd like to note is that you see notify automatically is calculating that ten percent retainage here so it's technically a sixty five hundred dollar invoice uh but it's saying well we're actually only requesting 5850 and 650 is being retained i'll go ahead and verify and finalize this invoice and then i'll pull up a preview of it uh and i'm just gonna download this pdf and blow it up here just to make it a little bit more readable now the first page here is gonna be our g702 this is just breaking down you know the summary of this cover sheet is just to you know get the lump sum total information that you want to uh you know communicate to the client the most important value here is this line eight row eight where we're saying right now we're requesting 5 850 but what i'm going to get into next is going to be the schedule values our g703 which shows us more about what's going into that five thousand eight hundred and fifty dollars now uh columns a and b pretty straightforward is just saying first item description of that item uh column c is saying here's the amount that we agreed upon uh for this uh for this specific item so rough in you know you signed off on paying us four thousand dollars when all of this has been completed d and e kind of play off of each other this is saying how much has been completed in the past since this is our first invoice it makes sense that all this is set to zero and it's saying that right now i'm invoicing or i'm saying you know we have completed a thousand dollars worth of work out of this four thousand dollars now even though we're invoicing three thousand dollars total out of rough-in you can see that this period is only saying a thousand completed two thousand stored which adds up to that three thousand and so at the end of the day it's important to note that information only your numbers only go into column e when it's actually work that you're communicating to the client we have done this work you're not this isn't just about how much you're invoicing you're actually telling the customer you know we have completed in this case uh you know 1 thousand out of the four thousand so a quarter of the work uh but we've invoiced seventy five percent of the item because we're holding on to two thousand dollars in materials that we haven't used yet uh the percentages are just to show the customer you know how much of each line item has been billed uh this shows the remaining balance of each item and then how much is being retained to date and again you know one of the common questions we have are people saying well they expect one of these values you know maybe the work completed this period to add up to this current payment due and again because materials stored factors it isn't factored into the amount that's been completed you'll never see if you're using store materials you'll very rarely see that this period total equal out the current payment due if everything's being done correctly also beyond that retainage will also be deducting values from here so it's another thing to note so that's kind of what goes into the schedule values on an invoice um and if i go back to this project now i'll actually see that in the summary tab reported as our revenue to date is actually including retainage and because basically even though the customer isn't going to be paying us the 650 yet it's still earned revenue they're just withholding it until the project has been completed once the job's done i will acquire this 650 it may take a couple of messages to the client to communicate okay we're done with the project jobs have done great please pay us the money that you're withholding um but yeah we recognize it as revenue because we want the revenue to really show how far along you are on the project uh to give you a better idea of your profitability when we run things like work in progress reports um so that's the basics of creating a first invoice but one thing i'm gonna do is actually delete that invoice that we created because i mentioned the idea of yo your schedule values that the customer requests may not line up perfectly with the different line items that you had quoted to the customer so i'm going to go back to this contract and i you know lumped it together as rough in installation finishing but let's say they actually consider roughing an installation to be one item i can edit schedule values and merge these and now i can invoice as two line items instead of the three i can also add items as well where i could say actually what they do is rough in uh where i'll say rough-in downstairs was 2000 uh then they had another item called ruffin upstairs also 2000 and so i can get a little bit more granular with this i can you know group items together uh and it basically just lets me adjust the value of the contract uh or specifically the schedule values to match what the customer wants to see when i actually send the invoices to them and one thing we do just to help you keep track of all this if i go down to this uh summary at the bottom i can see now that the original bid sum the amount that i initially bid to the customer matches my contract sum so i'm it's basically just confirming that the balance of the contract once they've adjusted the schedule values truly matches the 14 000 that i recorded to the customer so let's say that they accidentally told me you know 4 000 on finishing it's gonna give me this little red warning that says actually these two don't line up uh and it gives me you know it gives me that additional knowledge i need to communicate with the customer and say you know where should we be uh taking that thousand dollars out of this maybe you wouldn't communicate because you want the extra thousand dollars um not exactly the same but similar to you know adjusting your line items this is also the screen where you would be adding change orders and we do have a webinar coming up next month that's uh specifically on change order management but just so you can see what this is going to look like on the form if i could say something like upgraded lighting package for an additional three thousand dollars and again these are always available for e-signature uh this is going to be included in our schedule of values as well uh in the change order section of our g703 so i'll show you more about how that works uh and kind of a side note here uh you can see that we are showing at this point schedule values if i ever need to refer back to my original bid to see what i quoted to the client i can click that view original bid and see the initial pricing that i had quoted to the customer as it becomes relevant now when i'm creating my invoice you can see that it adds uh all of my new lines for my schedule values in here um and what i'm going to do is plug in i'm going to do this first invoice in a mix of stored materials and uh our completed work where like i'll say the upstairs materials we want to invoice the entire item and this one i'm also for the downstairs i'm also invoicing the entire item so this is an important thing to note i'm going to actually preview here so i can kind of go through different scenarios you can see that in the rough-in for the downstairs i'm invoicing 2000 in the ruffin for the upstairs i'm invoicing 2000 but this upstairs item won't actually be closed out until we've taken that two thousand dollars and moved it into uh the work completed column and when we do that it doesn't actually request any additional money so even though it's going to show up as work completed 2 000 we've already invoiced it in the past so you can kind of think of it as crediting back a deposit that was paid earlier often when i'm teaching you know stored materials internally we always refer to it as a type of deposit because it's a way to request money without actually doing work so you can have the money to help you do the work more easily um i'll enter in a couple other invoice lines here yo 50 here 1500 here um and then we'll do a couple that just aren't completely done and i'll also add to the i'll invoice the entire change order so just to show you again a little bit more about what these are going to look like it shows our payment to date and it's going to show me the percentage of the entire line item that we've invoiced to date and it's going to uh show us our change orders on a separate line so we can see how far along we are with our change orders as well just separates it out easier for the customer to see that way now i'm going to get into making a final invoice on this job and eventually after that invoicing retainage so when i click invoice now again and i'm just going to randomly choose a day period before i create this final invoice i want to show you what i was referring to earlier so you can see that rough in downstairs is complete you know we've invoiced completed work 100 percent we're set but what i may end up doing is taking this two thousand dollars reducing it to zero saying that i've no longer stored materials on this and here's a nice little warning that nullify gives you if you are uh you know going outside of the voicing flow it's basically saying these lines can't be zero because you've already invoiced two thousand at a bare minimum they need to uh you know add up to two thousand which in this case is a hundred percent of the line item now you can see that i move that two thousand dollars from here to here so if i preview this pdf it should be showing that nothing's actually being requested at this point in time it's just moving information from stored materials to work completed on this pay application uh and so that's kind of the workflow that we expect to see same thing goes for items that were partially billed again if this goes from here to here even though it's moving the work completed from 50 to 100 it's not actually going to be invoicing any additional value because we already collected that money as materials stored on our last application and that's the type of workflow i like to really demonstrate here is that when dollars go from material store to work completed you're not actually requesting money you're just telling the customer now in column a yes we have completed this work to date um but just to wrap things up here i'm going to invoice the remaining balance of this contract and if you want you can actually uncheck this box you can see as soon as we get to 100 on one of these i'm going to change this to 99 just to make it high and then i'm going to get to 100. it gives us the option to invoice retainage separately which we find is the most common option but if your customer is okay with you including retainage in your last application if i uncheck that and finalize i'll see that it's removing the amount from my retained date and adding it to my payment due but again i'm actually going to be keeping retainage as part of this invoice finalizing this and now if i go back to the project i'll see that everything has technically been invoiced in that the contract has been completely invoiced but the last thing we need to do is create a invoice for the amount that's been retained so i'll come to my summary really quickly just to demonstrate this so i can get the figures but i can see that we've built 15 300 but 1700 is being retained by the customer so i'm not done with this job quite yet all i have to do is come back to my contract and you'll see that the button now reads invoice retainage now because we've invoiced the rest and even shows me how much is being retained and it'll generate a uh standard style novi invoice because we're no longer you know communicating how far along we are with the project we're just getting the money that we've earned in the past and the customer has been withholding from us and you know it just creates the classic invoice document you may have seen this in our time and materials uh webinar but this just creates you know a retainage invoice uh but i'm not gonna finalize this invoice i'm gonna go back to my contract and uh bring up one of the more popular questions in notify which is how do i create my retainage invoice but do it on an form instead of a standard invoice for if i come back to my contract and change retainage to zero i can actually invoice uh the amount being retained on a uh pay application i'll just do the same thing invoice now and you'll see it doesn't switch invoice format so i can do it just like i was doing earlier uh no longer invoicing retained separately it's removing that amount from the invoice yeah i messed something up here but it would invoice the retainage using the pay application instead of using the uh standard invoice document so that's always a solution as well oh i see we still had a retaining draft because i saved it that is my mistake another thing that's a common question is what if i have to invoice my retainage midway through the project you can actually so we originally had 10 retainage on this project and let's say i now have been given the green light to invoice half of it i can come in here and change these values to 5 instead of 10 and then when i create my retainage invoice i should probably be refreshing more often but then when i create my retainage invoice it's not uh creating it for the total amount of the retained age it's not waiting on my next invoice it's just going to give me the option of invoicing that half of the retainage that i've now reduced when i went from 10 to 5 so that's always an option as well and i forgot because this is completely build still going to try to create the ever changing voice but i'll go ahead and just finalize that and uh move forward uh if we get anything in the q a that wants to demonstrate the half retainage building i'm happy to go back on that as well um and now again if i look at my reporting it's actually going to be showing me uh how much has been billed to date and there's no longer anything retained because i created my retainage invoice that's everything i want to show for my demonstration now i'll get into the fun q a portion of these webinars and let's see what we have today uh if i had created the contract as fixed price can i switch it to fixed price with invoicing very good question another one that's very popular uh and what i'm gonna do is uh to just create another one of these really quickly and actually create it as fixed price just for a good example here for those of you who aren't familiar with this copy from spreadsheet feature here's another thing that could be done to create a scheduled values because a lot of times we'll find that you know uh customers will send you a uh list of line items and say you know can you please invoice on this schedule value so if you have that csv from the customer it's an easier way to import once the job is what's the contract saved as fixed price if you haven't created any invoices yet in fact i'll make this one active just for the sake of being a little bit more exact with this uh q a uh i come back to draft mode i switch to draft and again you can't have invoices or change orders when you switch to draft so you may need to clear some other data out and then i have this button that says switch to billing and now this is an job instead and i can make it active again um the next question was does this invoice have an invoice number or just the payout number to sync to probably the quickbooks will it require an invoice number very good question so all of the invoices have both uh we start new pay application numbering on every job of course so if i go back to this other job i have been working on [Music] i can see gc invoice uh it's my and you know no if i slash quickbooks invoice 2029 application one 2030 application number two so you always have two different numbers uh if you ever have a need to have the internal you have the no if i slash quickbooks invoice number displayed on your invoices let us know and we're happy to set that up for you but uh they're always uh possible there's a question does style invoice document sync through quickbooks will it have the same look or should i print it and email it to the client separately so uh quickbooks doesn't have invoicing it's something that's only possible in nullify at this point in time so in nullify it's going to have the look of an format the thing that gets sent to quickbooks is just the value of each line that you're invoicing to date uh and so basically in quickbooks it's just you know a normal quickbooks invoice so you would have to create the pdf and email it through noafi uh there's a follow-up question to switching from fixed price to uh and it was how do i switch then from to standard fixed price same exact workflow you just delete your invoices if you have any switch to draft and that same button that said switch to will say switch to standard instead and the last question said you're doing great taren and i appreciate that so thank you for the positive feedback uh just uh as closing uh you know we're gonna be pausing these webinars for two weeks and picking them back up in mid-september uh you know with the labor day and uh other holidays coming up we just figure you know we'll give everyone a little bit of uh time to digest all the information we've been said in your way and uh you know we'll be jumping right back in sending you emails with the registration links to jump back in um thanks everyone again for taking the time to join and i hope you all have a nice rest your day