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How do I bill for stored materials in a payment application? (Beta)

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 For Procore Customers in the United States

flag-us.png  When your company applies the 'Owners English' or 'Speciality Contractors English' point-of-view dictionary, you'll see different tool names and term changes in the user interface. Learn how to apply the dictionary options. 

  • To learn the differences: Show/Hide      

    • This table shows the differences in tool names (bold) and terms across the point-of-view dictionaries for Project Financials. These dictionaries are available in US English only. The default dictionary is designed for main contractors, which means that you will need to work with your Procore Administrator at your company and your Procore point of contact to access the other dictionary options. 

      Main Contractors

      English (United States) - Default

      Owners

      English (Owner Terminology V2)

      Speciality Contractors

      English (Speciality Contractor Terminology)
      Payment Applications Payment Applications Progress Billings
      Owner Funding Owner
      Owner/Client Owner/Client MC/Client
      Main Contract Variation Funding Variation Client Contract Variation
      Main Contracts Funding Client Contracts
      Revenue Funding Revenue
      Subcontract Contract Subcontract
      Subcontractor Contractor Subcontractor
      Subcontractor Bill of Quantities (SBOQ) Contractor Bill of Quantities (CBOQ) Subcontractor Bill of Quantities (SBOQ)

Answer

Billing for stored materials on a construction project allows contractors to recover the costs of purchasing and storing materials on a job site. It also requires teams to ensure they accurately account for materials received. This includes documenting the trade partners, types of materials, quantities, costs and delivery dates. Because stored materials do not represent completed work, payment applications must be itemized to differentiate between what is installed on a project during a billing period and what is stored for future work. 

Once a contractor receives a payment application payment, stored materials become the client's property and the contractor is responsible for ensuring stored materials are safe. To avoid misunderstandings, ensure the requirements in a project's commitment or main contract are clear about how to bill for stored materials. 

To learn how to configure settings and bill for stored materials in Procore, see About Stored Materials on Payment applications. 

See Also