RELATED IDEAS
Construction Lien Act Holdbacks
Our invoices on major construction contracts are subject to a holdback amount that is paid out at the end of the project. This is a legal requirement.
We need to be able to temporarily discount our invoice in the form of a holdback, typically by 10%, and then track, and finally invoice, the remaining holdback amount at the end of the project term.
| How often would this idea be used? | Daily |
| How much time would you save when the idea is implemented? | We cannot operate without it |
| How many people at your company would benefit from this idea? | A Team or Group of People(5-25) |
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What problem is your idea trying to solve?
It is currently not possible to reduce an invoice by the amount of the holdback nor capture the total amount of holdback in a report format. It is also not possible to have this legal holdback amount clearly indicated on customer invoices. This data gap requires project invoice tracking by spreadsheet. Our receivables must be adjusted, our project payment systems must be tracked manually, and we must bear the cost of HST payment well in advance of collecting the money. Ideally, the invoice should be able to deduct holdback and have a clear line item showing the deducted holdback amount for our customer. This holdback amount should be able to be tracked at any time in a report by Customer and by Site. |
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The idea has been reviewed by the Product Team, and may be considered for the roadmap. In the meantime it will remain in this status so other customers can vote and discuss the idea here. Votes and engagement around the ideas are data points the product team uses when prioritizing the product roadmap.