Streamline Your Invoicing with Our Progress Billing Template for Technical Support

Progress billing template for Technical Support

[Music] all right so i think that we will get started for today's webinar thank you so much for joining today's event welcome to the fourth part of our seven part construction webinar series that covers some of the top challenges construction and building material companies face and solutions that netsuite and efficiency's construction solution provide to solve those key issues so today we'll cover the topic of progress filling we will focus on how netsuite combined with efficiencies billing for construction solution solves key challenges faced by construction companies regarding progress filling my name is clara sabo and i'll be kicking off the event for today i'm a marketing specialist here at outfit efficiency in charge of running webinars and various marketing initiatives i have with me today johnny then our principal and ceo at efficiency marteza hosseni who is our director of delivery and a seasoned construction expert hameed was an sbc with experience in the construction erp space and joy su who is a senior product engineer so for those of you that are not familiar netsuite is the first cloud erp founded over 20 years ago netsuite has more than 29 000 customers in more than 200 countries across the globe also introducing efficiency who provides netsuite consulting implementation and integration services efficiency has several construction solutions and has worked with clients in the land developer general contractor subcontractor and engineering design service space efficiency also recently received the netsuite construction alliance partners spotlight award for its work in the construction industry so just a few housekeeping items before we get started today's event is being recorded all lines will be muted and we'll leave time for questions at the end so please be sure to submit them in the chat throughout and we'll be sure to get to them so to get started i'll first be going be going over the agenda for today's event so first we'll have some introductions then we'll have an overview of progress filling a 30 minute product demo and then end off with some time for q a so i'll now hand it over to johnny then principal and ceo at efficiency for introductions and our presentation thank you so much clara very nice to meet you all again hopefully some of you are returning from some of our our other series of webinars um efficiency i joined netsuite in 2008 worked there for over seven years and i have worked on over 300 different netsuite projects worked with over a thousand different netsuite customers over the years and i'm we're excited today to present to you our construction solution for progress billing this is one of the many areas that efficiency has grown from being a services company into also a software company where we are providing next level and next generation advanced solutions on top of the netsuite platform which is rich in functionality as well which is it why don't you introduce yourself thanks jenny sure uh mothers of husseini here at the director of delivery at efficiency uh in terms of background um i i'm a civil engineer uh who worked for 14 years in construction projects different roles and then eight years ago decided to join the challenging world of i.t and help over 350 construction companies to implement erp solutions excited to be here and i will pass it to hani thank you johnny uh hi everyone my name is hamid ishvak and i am a business consultant at efficiency my background is actually in finance and technology and that technology part is how i landed into the construction erp space particularly i have done well over 50 plus construction erp deployments uh both locally and internationally and i'm really excited to be here thanks so much amit uh today guys i wanted to introduce everybody to some of the concepts of why construction software needs a specific solution in the first place and why this market is actually really underserved considering it's such an old industry we've been obviously doing construction since um since we could bang two sticks together um but the global construction industry is only it's about 13 of the actual gdp of the world's gdp and yet when you look at the growth of construction for productivity it's much lower than the rest of the world a lot of that is because it has not yet fully adopted some of the technology advances that are available to it and one of those categories is software you'll see that in the first three squares here we demonstrate to you through some statistics that the construction software industry is ready to hit its own hockey stick a little behind maybe some of the other industries that have adopted technology more but nonetheless a very powerful force and one that we believe is underserved and so today we're going to go through how that underserved market can leverage what is arguably the world's fastest uh sas erp which is the netsuite platform which is rich with functionality and tailor it and use it in a way that matches the construction process more fully and today we're going to focus on that progress building in our series of webinars so to start off as with all our webinars i think it's important for us to really understand what progress building is and for that i'm going to turn to morteza hosseini here our construction industry experts and and really ask him you know what is progress building what what is so different about this concept uh that you know normal invoicing and building would not do uh sure so um let's put it in this way um construction is an old business so we have lots of best practices developed around this industry so one of the best practices would be using the csi codes or work codes or job codes and everyone needs to understand at the end of each month or each feeling period what is the progress that you made for each specific topic so that's literally what what we call it a progress feeling right your bill based on your progress ing to a pre-defined structure and breakdown with your customer because you you can't simply uh build a customer for over a million dollar if if you're talking about a mega project in construction right so you need to provide the breakdown okay um so if that's the case for for progress billing and and breaking it down by these workloads and stuff why is revenue recognition often come up as part of the discussion perhaps our our deployment expert here i mean can speak to that yeah for sure uh that that's a great question actually and in this we we need to look at it from the lens of you know how what as i said that it's an old industry with old practices and now we're coming to the new times essentially so when it comes to revenue recognition our main focus is basically looking at what has been the progress that has been made in what the data is in the system in terms of the costs and basically how are we are doing on that front there are a lot of regulations as well as accounting standards that govern when or how a company is supposed to recognize the revenue itself and then on the other hand there is the actual billing activity of asking the client hey can you please pay us because you know we need to maintain our daily activities and these two things with particularly when it comes to construction can be different and most of the times you'll see that they will vary from company to company they might have a different way of recognizing the revenue based on how the costs are coming in and then a different completely different formula as to how they're building their customers and when they're actually billing it and then the appropriate accounting practices to make sure their books are matching up with it that's that's great that that's very helpful to me and you know i've often been asked i think as well do you support this format or that format some of them i can't even there's just a bunch of numbers to me can you talk to me about what these formats are and you know why do they matter how are they supported yeah absolutely um so the the most recognized format uh in construction is so uh and when you're talking about the numbers um a general contractor who wants to feel a customer would need to use the g702 and g703 funny enough for for the people who are in construction you will be surprised if you hear that actually the other industry is now using the ai format for their billing purposes as well because again it's an old industry with lots of best practices so everyone you know love the format and the simplicity of the and uh also what we have in in our software which we call it abc okay and then maybe one of you experts can help us understand how does it is there is there a difference actually between different uh you know construction or similar to construction type companies that use these building formats [Music] uh absolutely so um if you if you think about the the different types of construction companies that we have like land developers general contractors self-performers or design firms that we discuss in our previous webinars as well they all have different needs in terms of the format however before even going through that um i would like to remind everyone of two typical type of contract in in construction we usually have fixed price contracts versus cost plus and they have different mechanisms different structure so if you think about the land developer land developer is really the owner of the project so they don't really have a customer to to build their draw every month however for their finance need usually they they borrow money from the banks and every month is important for them to send their draw to the bank so if you tell them do you need progress field they will tell you no but if you show them the format and say do you need to send your bank draw in this format probably they will tell you yes but their mechanism i would i would consider them as part of the cosmos uh structure uh we will discuss that later on but i'm just setting the the foundation okay so cospas versus fixed price general contractors self-performers most of the time the the typical type of the contracts that they have is fixed price so when is fixed price you really need to um send your billing application ing to the progress that you made for each of the items that you agreed often in your schedule of value so um they they usually use the fixed it they usually um use the but in a different way than the land developers they lack the land developers they just rely on the cost they rely on the breakdown of their schedule value it doesn't matter what is their cost it's all about the breakdown of their revenue a scheduled value and then the last category the design or engineering field they they usually don't need to use the progress building again it's a matter of how large is the project or the sophisticated um project that they are dealing with um if if it's a simple project they usually have milestones and they might send two or three invoice depends on when they hit the milestone however when we are talking about the design project or sometimes they have design built contract that's the time that they they definitely need to use the progress building and again the um the format that is well recognized and accepted in the industry is the slash abc format that that so thanks so much marteza and maybe this next question is is better for hamid here but you know when you look at the merge of the netsuite system and software system with these formats that you call them and these uh work codes i mean is this not just a tagging and a markup of a bunch of work types what's what's so hard about doing this well that's a great question and i guess first of all kudos to our marketing and design team from making that entire complicated concept so easy to understand using this this particular slide uh but essentially there are two parts to or two parts of the answer itself uh number one is the fact that over here what you're looking at is a very very simplified example with just four lines and essentially a single project in this particular case whereas in reality when you look at a proper project there might be hundreds of lines and work codes that are linked to it and on top of that that is going across multiple different projects within that same company so when you do that multiplication of those hundreds of lines across multiple different projects you're getting to a gargantuan figure which is not easy to accomplish and it becomes very very complicated and hard to keep a track of then on top of that and i wouldn't use the term cherry on top because definitely not a cherry but essentially what you're looking at is you have these different work codes but they might not be aligning in terms of the schedule of the project itself it's possible that you are performing uh work on work code number one and then you also in that given period you've performed some work on workload number three rather than number two and when you go into billing that you need to make sure that you are able to translate the work done on each of those workloads in that period into the actual billing application and you're not actually billing the client incorrect figures because when the client is going to look at the data that you present to them they have their own you know for example managers or project managers construction managers on site reviewing the work and they might come back to you and be like hey you just billed us for something that you never even did so this entire process of manually managing it becomes very complicated and you need an automated solution and that is where net speed and efficiency come into play as to how all the data is there in one system and that the system is able to take that data that someone is entering and making it useful information that can then be used towards invoicing the customer excellent i mean i appreciate that breakdown i think that's really helpful um from my experience and all the work that we've done over the years with netsuite i can tell you that all of our solutions take full advantage of the platform capabilities that netsuite brings to the table in the first place and i think that's very important for folks to understand you can still build in the old fashioned you know what did i put as materials on my order what did i ship and what's my progress on that and progress building will still work with all of those elements if you want to use the mass building operations of netsuite it will work with that if you want to use the advanced revenue management of netsuite it will work with that and your cost progress can drive your revenue recognition if you want to build in advance or build based on fulfillment you can flip that selection in netsuite either way and it will work with that if you want to add workflow for your complex change order management and all of your specific estimate approval and budgetary approvals for owner changes etc it will work with that and so today now i'd like to take you guys into the demonstration we have a lot of great content to do but we're running out of time i'd like for you guys to get down to see the actual product and take a look at what progress building looks like in netsuite when it's done right and so i will let claire introduce joyce and we'll go from there amazing thank you johnny morteza and hamid for that amazing presentation so now to introduce joy sue will be our demonstrator for today she is a senior product engineer here at efficiency she graduated from computer engineering from the university of waterloo she has four plus years of product development and is three times netsuite certified so i'll now hand it over to joyce for the demonstration thank you for the overview johnny and what casa have made hey everyone nice to have you all in this webinar so in the last three webinar of the series we looked at how to use efficiency's estimated project sync functionality to create project tasks directly from the estimate record and we also looked at how to use efficiency's construction solution to facilitate the use of schedule values within sb we also seen how appy solution allows you to withhold and release retainage within nest we both on the vendor side and on the customer side today we'll be looking at how to use efficiency's building for construction to handle progress building with the next week without that with that being said let's dive into it so here i have the same sports dating project that's going on in the last few episodes this is a fixed fee this is this is a fixed price project although um efficiency solution can also handle cost plus we we charge around 15 markup on top of the car of our cost some of the work is entirely subcontract out some of the work are performed by our own by our own team and on this project this project the customer withhold 10 retainage from us so we can take a look at the progress billing the progress billing is located at the bottom of the financial tab so in netsuite you can see these different tabs and these different tabs contain different information related to the project so this project record by itself can actually contain a lot of information for example the schedule contains a project schedule and project plan the inventory contains information about the material on the project and the project overview just contains other miscellaneous project information and here this financial tab contains all the relevant financial information for the project uh for example the um the group for example the material drop costing metric uh the billing for construction information the default retainage and etc so let's take a look at the progress billing for this project as you can see under the list of progress building it shows the different types of work and it shows the progress building of spanning across different months from may to june july and august so the different so we either start the project we have already discussed the scheduled values with our customer and uh the customer has signed off on it and these different types of work are different types of work shows our schedule values and these work are derived from the sales contract that's in the system so because netsuite nestle is a crm it's an erp a project management therefore the sales contract we have in the system is being pulled to progress billing and the schedule values or the amount that's specified on the sales contract shows up as a schedule values in addition to progress billing we also have a summary billing which groups and records the summary information on progress billing the progress billing shows a breakdown of the work in the same period and summary billing just sums them up which gives us our total amount to bill for this period i'll be diving into more detail in an example shortly so these progress building and summary building are generated at the start of the project at the start of the project our project manager enters in the project start date and the estimated estimated end date and then we click we click on the create billing record budget which creates the summary billing and progress building spanning the entire duration of the project we have seen we have just seen the progress billing going from may uh to august but the progress billing actually goes from may to december which is the end of the project anytime the project is delayed the project's delayed or there's like additional change order and different work we just update the project end date and then click on the button click on the button again to create more progress billing and summary billing for the additional period so with that being said let's take a look at what the progress building looks like so on this progress spelling there's this main section which contains information regarding what this progressive building is for for example it is for uh it's for like sewage work it specifies the project the summary billing information the application end date and period end date um directly on the progress failing record i can click to go back to the project i can click to take a look at the work code and also i can also access the summary building this is really handy because like because these links are just one click away and i can easily go back uh review and make adjustment this the information in the main section is filled out automatically um because these because these information regarding the project already existed in other part of nest suite and therefore our people don't have to enter the information twice it is directly pulled from the sales contract the project record and etc in the in the default section it shows me the it shows me the billing information and these information are generated automatically from the system for example the scheduled the schedule value is pulled from the sales contract and the and the the schedule values can contain the change order or we can track change order on a separate line the system can the system can handle both and we can change it on project by project basis we will be covering change orders and we will we will cover we will cover change orders in more detail in the next episode the previously the previous build tracks what we have already invoiced the client for the same type of work on the same project in prior period because this is our first application for payment for this for this project the previous vote is zero and the word completed just tracks our uh work tracks the progress we made on this period and because the contract is for forty thousand uh our completed was twenty thousand which gives us a fifty percent complete uh we can also see like a retainage being added automatically here so uh again like on the again on the project we specify that there's a 10 retainage and so the progress building just pulls in this information from project and the retainer is automatically calculated and tracked so and so i want to emphasize how powerful it is to have nest feed to have project management next week because in this way it's such a unified system we enter the retainage of the project and we don't we don't have to enter in retainage any we don't have to enter in retainage again in progress building with summary building the same goes with our sales contract our purchase order our vendor bills and item receipts if it's in the system ones it's going to be organized and it's going to be organized and presented in the progress building and summary billing no manual no double entry again so let's take a look at so in our project our project manager manually enter in the in the percent complete because we want to make sure that our make sure that our billing reflects the entire period even though our application end date is around three days earlier than the end of the period therefore our project manager makes menu adjustment to ensure that our percent complete reflects the entire period not just um not just the work completed on the not just the work completed on the date of the application so um we use this table um because this this table allows us to make multiple edits of percent complete on different types of work on the fly and this is really handy because we never have to like open up one each of the record one by one edit save it and close it these edits are inline edits and then after um click on the edit button the value is saved automatically so this is where our project manager enters in to present complete and material presently stored these two values are override value and they show up here in the override section so the default section posts in the information in the system and it gives us like a default automatic view of how we're doing uh material presently stored uh total completed and we have the off option to manually overwrite when we enter in the menu override the system is going to look at the override value over the default value and that's going to be used to drive our summary billing for the period and that's also going to be used to drive also going to drive our schedule values so at top we have two buttons the update progress billing button is when we make some adjustment to the progress billing or when there is like a new change ordering system a new item receipt we click on progress billing we click on update progress billing and the material presently stored is updated it says pdf basically shows a scheduled value pdf and the schedule value pdf in addition to progress billing is similar to the industries 703 form so the schedule values pdf shows the application number the application date the period and the project it also shows a breakdown of the different work on the project what the schedule value is the work we've done this period the material that's shipped or on site and then the total completed in addition to retainage so this is what the progress billing looks like for me let's take a look at the summary billing form from me on the summary on the summary billing form we have we also have like the certificate information which shows who our customer who's the customer the project application number the period and then application date notice how the customer link is only one click away so directly on the summary billing record i can access my customer record and see changes and updates to the customer payment information and etc and so is a project so um just like just like um the progress building record the project information is just one click away on the summary billing information this project and customer information is all one click away and that's really handy because i don't have to go through the system just to find the project and the customer these certificate information are automatically filled out when the summary billing is created and so our project manager never has to fill in um this period and project information it is automatically it is automatically um populated in nest we in the application section it shows our our original contract sum and other billing information so these values are also populated directly from nestle for example the original contract sum is based on our original sales contract with the customer and then the net change by change order is the sum of total change orders we have in the system so in the estimating episode we created a change order for eighteen thousand and uh it is a change order so that eating thousand shows up as a change order and that gives us our contracts up to date we also have a total completed and stored date for the period of may and that is proven from the sum of total completed for uh different types of work so um so on this project some of the work is entirely subcontracted out which is uh which is sewage and for other type of work it is like pure labor and performed by our staff and for our uh for the permanent tier for me um it requires we have some of the material received and stored today and that also drives our total completed and percent complete so let's take a look at how the total completed is derived and that will provide more information to um how the total completed or however tool will complete for may so this work is entirely subcontracted out to one for subcontractors um and the contract and we issued a po to our subcontractor for 35k and then um lately our lately our subcontractor has sent over a vendor bill for around 70 000. they told us that they have completed half of this specified work um we we went on site and verified it and um they sent us a vendor bill for seventeen thousand because our subcontractor completed around fifty percent of the work fifty percent of the contract um therefore we are also fifty we are also 50 complete with regarding to this work i know like i know in the purchase order it says that it's for 35k the entire work is for 35k but because we subcontract out your subcontractor we charge a little markup so the scheduled value for us for this work is around 40k and so 50 complete of a 40k gives us around 20 000 of total completed and that drives that drives to 20 000 of total complete for me so this is how the 45 000 comes from in terms of a total completed because we track a 10 percent retainage and so our total earned less retainage is around 41k and so our current payment due is also around 41k so if we click if we take a look at the summary pdf we can see that these values are all shown are all showing up in the pdf this pdf and the summary building record is similar to the industries 702 and so we can see um the same value that's on the record showing up on the pdf for example the account or original contract price change order um were completed and current payment due um in may we may be printed uh ema we printed out this pdf along with the schedule of value pdf we use the schedule values pdf as a backup to provide more information to our customer and together we send it to the customer and the customers architect they signed off on this they signed off on it and so um we also we also sent we also sent them an invoice so let's let's take a look at the invoice for me on the invoice um it shows the 45 000 uh work and it also shows the 10 retainage so let's take a look at the actual invoice we sent to the customer so this is the invoice we sent to the customer it shows the 45 000 and it also shows the 4000 retainage which gives a nice a net total of 40 of around 40 46 000 and this is what we sent over to the customer in may right now we're awaiting right now we're waiting for payment so this is what the progress building looks like progress billing and summary billing looks like for me um let's take a quick look at what the progress building looks like for june i just want to show you what the progress building looks like for the current period when it's time to generate it right now it's only the start of june i just want to show you what it currently looks like so the main information is the same it's just like a header except it's adjusted for june the schedule values is the same because there's no change orders and no changes in the contract notice how the previously built is populated so the previously so the previously billed for june is actually the work completed this period for may so this is how uh this is how this assist this is how the system takes care of um the different period we have the word completed for june is around 2500 and that becomes the previously billed sorry the word completed for may is around 2500 and that becomes the previously built for june we have made some additional progress um in june as well and so our total completed is around our total completed is around 10 000 and our percent complete is 40 complete [Music] so um this is this is what the progress billing looks like for the past period but also for the current period and we have seen how um we have seen how the schedule we have seen how the previously built uh total completed and were completed adjust based on what we have previously filled so now let's take a look at the dashboard to show you what the progress billing dashboard looks like so for those of you who's not so familiar with netsuite a dashboard or is what you're going to see when you first log into nest suite and on this dashboard it shows me the work completed for this period it also shows me the revenue less retainage the payable uh the payable less retainage as well as the customer retainage available for release and the subcontract retainage the kpis are all for just fiscal period and this is just a really handy view for me to know um what's my total complete is this period what are the where's about where the amount that i have invoiced where the amount i have not invoiced and what's my payable and it's really handy for me to see this all at a single glance to the left i have um i have a kpi meter so this kpi meter just um it just shows me like what's my revenue less retainage and it also has a little marker which shows 1.3 million basically i just want the kpa to tell me what's my revenue doing compared to my payable and as long as my revenue is greater than my payable for the period this shows green and this is just a really handy view for me to see when i first log in to next week to see how my financial financials is doing overall so when i scroll down i can see this graph which shows me um what's my what's my uh what's my revenue it shows me like across about across three months was my revenue looking and what's my payable looking and what's the retainer that's being tracked and that gives me a view of um a view of these metrics across these months in addition when i scroll down um i can see i can see like a percent complete for different work uh project view so i have this project filter on which allows me to see the percent complete for different projects the percent complete of work for different project um and it's just a glance view to see like okay so for some of the work um i'm like i'm like 40 to 50 complete but for like other type of work i have not made any progress and this is just like at a glance view of visuals of the actual work that's done and if i want to actually drill down even further i can scroll down to see the revenue by word code so again i'm filtering it i'm filtering it by the sports dating project and it basically shows me what's my original revenue budget what's my actual revenue um and then what's the remaining revenue as well as uh the percentage of revenue that i have achieved on this project so this this concludes this concludes the progress billing demo thank you so much for uh thank you so much for your time um over to you what johnny and hamid amazing thank you so much for that demo joyce we will now move on to the q a portion of the webinar i see that some of you have already submitted some questions in the chat as i mentioned please feel free to send them over and we'll try our best to get to them all right so to start the first question that we've got through the chat is what if the schedule of values needs to be grouped by the number of items in the estimate so i'll let hamid take that question yeah for sure um that's actually a great question and it also relates back to basically some of the industry standards that we talk about such as your csi code which as we know have different levels and a parent child kind of a hierarchy and roll-ups happening within them so this is a very common occurrence within the industry some clients they prefer to have a bit more of a detailed breakdown whereas some other clients might prefer more of a summary kind of a view and our system is very much capable of handling all of that especially the way we manage to bring in those workloads within the system and how we report them we can set up those parent child hierarchies and then we can do different kinds of reportings as we look at that those codes and be able to see that okay we can drill down into deeper levels and tag our costs to lower levels codes essentially or csi codes and then we can look at the reporting from a division level code and that's all quite possible in the system amazing thank you hamid so our next question is why should materials stored to date be considered in our percent complete calculation so i'll let morteza take this one uh sure thank you um this is um this is related to mainly when you have a fixed price contract um if if you think about the progress of the project in order to do the actual work and make some progress you need to receive some of the materials on site and this simply needs to be calculated towards the person completion of the project because that would provide um a vape against the um the the person completion and um to be more specific i'm not talking about the work completed percentage um i'm talking about a calculation of how much you should build a client ing to um the format so um as joyce showed you in in the abc 5 we we would have a specific column for material stored today and that is specifically designed for two reasons one is um to support the cash flow for the contractor right so you can imagine if i need to purchase all the materials and then um i don't them yet um i still have to pay my supplier right so this is for supporting the cash flow second it needs to be calculated against the total person completion of the project to make sure that you are not actually going above that schedule value in your feeling life so i hope that answers the question yes definitely does thanks morteza so moving along to the third question that we've gotten so someone's wondering how does your billing solution handle the fixed price and cost plus contracts as they require different setups so i'll let morteza take that again um very good question um technically this is this is what i described at the at the beginning of the presentation um our solution designed in a way that we can handle fixed price and cost pass the the reason that most likely someone would ask me uh or ask us this question is because most of the time the progress field designed for handling the fixed price contract and you're right this requires different setup so part of the uh the demo that joyce did for us she mentioned that hey you have the option to override our calculation so when is um the auction um the setup is based on the override you're technically using the fixed price setup and if you don't override system is smart enough to understand that okay this is a cost plus contract i need to calculate all the percentages based on the cost that you occurred today great thank you marteza so our last question that we got in the chat um is that someone is wondering sometimes on a project the costs in the system are not reflective of the actual progress that has been made and the pm does know that so how does the system allow for billing based on real progress and not what the system shows so i'll let hamid take this question yeah for sure that's actually a great question and one thing i'll say it's not some time it happens a lot of the times so the thing is we would all want the system to be up to date with all the costs being in there at all times however the reality of things is that uh sometimes there's a delay between when a cost is actually incurred in the field and when it actually gets reported in the system and there's also a delay between what actually because our system is using or we are using that cost uh that is in the system to derive our percent complete but in reality the people at the job site have done a better job so they have actually been able to accomplish more than what we think from a numbers perspective in the system so that happens quite a lot and that's where the flexibility of netspeed and efficiency solution comes into place that you have the ability or the project manager in this instance has the ability to look at the percent complete based on what the system calculates on the using the cost incurred but then they're able to see in reality that okay this number is not reflective of the true work that has been done so they will go in and they can easily override that particular number and then build the client ing to that amazing one more thing that um i would like to add to what hamid mentioned if you think about the construction industry the way that we usually calculate the person completion uh there there are three specific ways one you calculate the person completion ing to the cost two you calculate the person completion ing to the actual progress that you make let's say i'm supposed to 1000 blocks on a wall and i installed 500 of them so i can simply say okay my progress my physical progress is 50 and then the third method that usually we use it for a scheduling is your personal completion based on the duration of the work so this was supposed to take 10 days we spent five days so we should be at 50 50 the other thing that i would also add here is the fact that we need to always consider the type of the contract so if you have a cost plus contract you definitely want to rely on the cost and if you have a fixed price contract you definitely want to rely on your physical person competition because cost is not relevant you don't even share the cost with your customers so that's what i wanted at here amazing thank you so much to all of you for that so on that note i think we'll end it here if you have no further questions i would like to wrap up by going over what is next in our webinar series so for construction companies to be able to track estimates as well as change orders they definitely need even more than what we've already shown you guys so please join us for our three upcoming webinars which will cover the topics of change orders job costing and a customer success story so our next one is taking place on june 29th and that will cover the topic of change orders so definitely be on the lookout for the invite to that with that thank you all so so much for joining today have a great rest of your day i we'll definitely be sure to send over the on-demand version and we hope to see you at webinar number five thanks everyone bye thank you you