Bill Paying
Procedures
All
billing from subcontractors and suppliers will be charged to Master Builders of
North Georgia accounts and invoices should be delivered only to Master Builders.
If any subcontractor or supplier attempts to bill you directly please advise
them to send all invoices through Master Builders.
About
once a week, or as required, you will receive a bill payment package. Included
will be a cover sheet titled Bills
Authorized for Payment. Behind that sheet will be all the invoices
covered by that report. At the end of the package will be a Budget
vs. Actual report. That report will provide the actual expenses through
those in the package verses the original budget.
If at
any time you have a question on any bill item or vendor, please do not hesitate
to ask for clarification or information.
Please
pay the authorized bills directly to the indicated supplier or subcontractor
and include the invoice number or other information on the check in order to
insure proper credit to Master Builders and your project. Occasionally,
payments may involve a large number of invoices such as the monthly billing of
the major material suppliers. In such cases you will be provided with a bill
payment report to include with your payment
In
order to remove invoices from the Bills Authorized
for Payment report please provide the check number, date of payment and
the amount of payment if different from the authorized amount by making notes
on the report and returning it via fax to 706-698-1212. Provision of the above information constitutes
certification of payment by the Owner to the payee. Please pay the authorized bills by the indicated due date.
If
you purchase any material directly, such as a chandelier on sale at Home Depot,
please provide us with a copy of the invoice and payment information.
Banks
and other lending institutions will typically accept the Bills
Authorized for Payment report as documentation of expenditures for
construction loan draws. If your lender requires other information we would be
happy to work with them to meet their needs.
QuickBooks
Professional is used to manage your bill paying process and provides many
available reports. About once a month you will receive a report listing all
payments by check number and date of payment that should match your check
register. If you would like to see other information such as all payments to a
vendor or payment detail by
budget item, please just ask.