When a Vendor creates an invoice in the TeamPlayer app, they will have the option to bill for stored materials that have been received but not yet installed or otherwise used. When an amount is added to the stored materials, it will automatically be included in the current invoice.
When stored materials are installed or used after they have been billed, you will account for that the next time you create an invoice. You remove the dollar amount from the stored entry field, which automatically generates a negative balance in completed to date to avoid double billing. You then apply that amount to Completed To Date along with any new work, and it will only charge for the new work.
You have 2 options to enter the Stored Materials amount. You can use the option to bill to This period or Completed to Date.
See the instructions below for both:
Bill Stored Materials using the Completed to Date option:
Select the option for Completed to date.
Enter the amount of Presently Stored Materials on the corresponding box. And verify the total amount is correct for the Completed and Stored to date is correct.
If you need to also bill for progress on the same line you can enter the amount on the Completed to Date box.
In this example we had $11,264.83 completed to date from the prior billing, in this period we completed another $2,000; hence we enter $13,264.83 as our Completed to Date amount.
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Our total Completed & Stored to Date will be our Presently Stored Amount + Completed to Date
In the Billing summary, you can see you completed $2,000 this period + you stored $5,000 worth of Materials.
Bill Stored Materials using the This period option:
Select the option for This Period.
Enter an amount in the Presently Stored Amount field, if you do not need to bill for any progress for this line, just click Save.
If you need to bill for work completed in this period, fill the amount in the corresponding field.See how the Progress Percent increases in the line below.
Verify the Total Completed & Stored to date is correct, and in the Billing summary, you can see you completed $2,000 this period + you stored $5,000 worth of Materials.
Modifying the Stored Amount in your billing
When the amount shown as Presently Stored Material is reduced, the most likely reason is that such material was installed and therefore considered Progress during the period you are billing for.
This is not always true, as the material may have been lost or damaged, in which case the amount presently stored goes down without corresponding progress.
After a stored amount has been billed and used, on the next bill you will remove the amount by entering 0.00 in the Presently Stored Amount and it will be added to the This Period Completed amount.
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