Issue/Symptom/Question

• Is there a business process on how the Stored Material work in the Billing Process?

Applies To

• Stored Materials
• Billing & Accounts Receivable

Resolution/Fix/Answer

The Stored Materials Status window is used to manage the information PENTA displays and includes on an AIA invoice for a job. There are multiple options that impact how the billing process deals with stored materials:

• Option 273 – controls whether or not users are able to enter stored material values directly in the Contract Completion – Billing Purposes window (entries made here also appear in the Stored Material Status window). Best practice is to set this to Y
  
  
• Option 277 – controls how Column F (materials Presently Stored) and Column D (Work Completed From Previous Applications) are calculated on the AIA INvoicing Report Continuation sheet. If N, PENTA includes the net balance of stored material entries on the billing date in column F of the G703 AIA report, Column D will exclude stored materials from the prior period invoice (this means when they include in the amount to bill for the current period the value of stored materials from the prior month that is to be billed this month). If  Y, Column F includes the net balance of stored material entries that have not been included on a previous billing and column D will include stored materials from previous applications (because column D excludes stored materials reported in the prior period, the value of stored materials reported on the prior invoice needs to be included in the amount to be billed this period. ). 
  
  
• Option 289 – this option controls how column E “Work Completed This Period” (or amount to bill this period). If this option = Y then the net stored materials amount is added to the calculated billing amount (contract amount * percent to bill minus prior billings). If this option is set to N then the Stored Materials amount is considered to be a component of the “Work Completed This Period” (or amount to bill this period). Best practice is to set this to Y.