Financial Management Features

Master the financial aspects of your construction business with comprehensive guides for billing, invoicing, and cost management.

Core Financial Features

Invoicing

Create professional invoices for your construction projects, track payments, and manage billing for clients and subcontractors. Learn how to:

• Create and send professional invoices
• Track invoice status and payments
• Generate progress claims for construction projects
• Handle retention invoices and final payments

Purchase Orders

Manage procurement workflows, supplier relationships, and purchasing for construction projects. Learn to:

• Create and approve purchase orders for materials and services
• Set up supplier records and manage vendor relationships
• Track goods receipt and delivery confirmations
• Process supplier invoices and maintain audit trails

Supplier Portal

Enable suppliers to access purchase orders and submit invoices through a secure external portal. Features include:

• Secure supplier access to relevant purchase orders
• Online invoice submission with document uploads
• Real-time status tracking and communication
• Complete audit trail and activity logging

Pay Rates

Configure and manage labor rates for accurate payroll and project costing. The Pay Rates module includes five integrated sections:

• Pay Rates: Set up standard pay rates by trade and skill level with overtime and penalty rates
• Pay Rate Documents: Upload and manage award documents, EBAs, and rate schedules
• Workers: Maintain your workforce database for payroll processing
• Employment Types: Classify workers into categories like Full-Time, Part-Time, and Casual
• Payroll Tags: Create flexible labels to categorize and organize pay rates

Each section works together to provide comprehensive payroll management, from workforce organization to rate application and compliance documentation.

Getting Started

New to financial management in Assignar Pay? Start with:

1. Pay Rates - Configure labor rates for your team
2. Purchase Orders - Set up procurement and supplier management
3. Invoicing - Create your first invoice

Integration with Other Features

Financial management integrates seamlessly with:

• Projects - Link invoices, purchase orders, and costs to specific projects
• Timesheets - Generate invoices from approved timesheet data
• Cost Codes - Track procurement and labor costs by activity type
• Reports - Analyze financial and procurement performance

Best Practices for Construction Finance

• Set up consistent cost tracking from day one
• Use project-specific invoicing and procurement for better client relationships
• Implement approval workflows for purchase orders and expenditure control
• Maintain strong supplier relationships through the supplier portal
• Regular review financial and procurement reports for business insights
• Keep accurate records for tax and audit purposes
• Track procurement commitments against project budgets