Organizing and keeping records of all project-related documents is essential in the construction industry. This includes receipts, timesheets, and invoices. Having this documentation is important in case a payment-related dispute arises, as it can validate the prices and payment terms. Invoicing using the itemized method is beneficial for both customers and manufacturers.
This method includes all material costs and overheads, and invoices them as construction is completed. This helps improve cash flow, as reimbursements can be made more quickly than waiting for the project to be finished. Customers will usually start receiving invoices every two weeks by email once the project officially begins. The invoices will include partial payments for work that has already been done.
We request that payments be made within 7 days, either electronically or by check. In most states, conditional tax exemptions can be used to guarantee the customer that they won't have to pay twice and still preserve the right to tax if something goes wrong. Having a clear construction payment schedule in writing also limits the risk taken by builders.
