BidUnity DocsSet up the schedule of values
Set up billing, then generate and save the schedule of values.
Who can do this: Company admins and Standard users. Field/shop workers can't open the Billing tab.
A schedule of values is the list of parts of the job, each with a dollar value, that adds up to the contract value. Every application for payment bills progress against these lines. BidUnity builds the schedule of values for you from the project's Price Awarded proposal, and you can adjust it before you start billing.
Before you start
You need:
- Saved contract terms, with a Counter party. Until the terms exist, the Billing tab says Save contract terms before creating a schedule of values and applications for payment. See Set up contract terms.
- A Price Awarded proposal. Without one, the tab shows Open proposals so you can mark one. See Change a proposal's status.
- An architect in the project's contacts. See Manage project contacts.
Generate the schedule of values
- Open the project and go to Billing.
- Click Generate SOV.
If the counter party or the architect is missing, BidUnity says Assign a counter party on the contract terms and add an architect in contacts before creating the schedule of values and takes you to the Contacts tab.
The starting lines depend on the Billing terms in the contract terms:
| Billing terms | Starting lines |
|---|---|
| Monthly progress billing | Lines built from the proposal: one for submissions, engineering and mobilization, one for each expense, and mobilization, material and labor lines for each work type. The amounts are scaled so they add up to the contract value. |
| Billed upon completion | One line for the whole contract value. |
| 50% deposit & balance upon completion | Two lines: a deposit of half the contract value, and the balance upon completion. |
Edit and save the schedule of values
- On the Billing tab, open the SOV tab.
- Check the Customer, Company and Architect names and addresses. These print on every application for payment that follows.
- Check the Contract date. Original contract amount comes from the contract terms and can't be changed here.
- Edit the lines:
- Type a new Description of work or Scheduled value on any line.
- Click Add line to add a line.
- Click Remove line and the line number to remove one.
- Click Save SOV.
Line 1 always holds whatever is left of the contract value after the other lines, so the schedule always adds up to the contract value. You can rename line 1, but you can't type its amount or remove it.
Top of the Billing tab
The bar at the top of the Billing tab has two more boxes:
- Incurred expense: what the job has cost you so far. It saves when you leave the box, and it shows as Incurred in the Work in progress report.
- Counter party project ID: the customer's project ID from the contract terms, for reference.
What happens next
- A tab appears for creating the first application for payment. See Bill with applications for payment.
- The original contract value on the Terms tab is now locked. Only a company admin can correct it. See Set up contract terms.
- Once you save the first application for payment, the schedule of values is locked. The SOV tab says The schedule of values is locked because billing has started. Delete every bill to edit it again.