The financial components of the project include everything from the baseline budget to tracking that budget and managing it into the project. There is a very clear paper trail that dovetails into the financial process. That paper trail includes a written trade agreement with agreed-upon price, verification of work completed, invoices, payment tracking, and lien waivers.
Financial
Estimating
Once we have a design, specifications, and selections we will get written quotes on materials and labor directly from our suppliers and trades for a detailed cost estimate for the project. All of the costs of permits, materials, trades, labor, engineering, rentals, utilities, insurance, interest carry, etc. is included. The estimate becomes a working document in the project and is tracked by our accounting service.
Accounting
We outsource the accounting to our accounting firm for all payables to trades and suppliers. This provides us with the ability to have financial reports at any time during any phase of construction.
Lien Waivers
We will manage and collect lien waivers for all trades. These will be available if needed in a database that is available in our cloud-based system. These lien waivers provide a document trail that proves all trades are being paid.