Time spent running a business’s back office, particularly for smaller outfits, can sap production. They’ll likely respect your business more and are less likely to test your business acumen by dragging out the payment process. When you submit a pay application with a detailed, clean, well-organized invoice, the general contractor or project owner will notice. There are some significant benefits to developing or utilizing a solid construction invoice template. Larger construction companies likely realize why they should have construction invoice templates, but smaller outfits might not. The payment details section is the place to include these. If you’re offering terms on the payment, such as breaking the payments up into installments or offering an early payment discount, this is the place to detail it.Īlso, your invoice may include information from your credit policy, like payment terms and penalties for late payment. Payment Detailsįinally, round out the construction invoice template with a section dedicated to payment details. This clear breakdown gives the customer a concrete total to look at and removes the guesswork.
#Sample invoice for contract work plus#
For cost plus contracts, include the cost total, as well as the agreed-upon plus percentage. This section should include the subtotal, any discounts (if applicable), the subtotal with the discounted amount subtracted, the tax amount, and the final balance. TotalsĪ construction invoice template needs a section to tally up the materials, labor, and other costs into one final amount. Note: This will look different for lump sum, unit price, and cost-plus contracts.
Include the description, amount, quantity, and total. Equipment rentals, parking fees, and other miscellaneous job expenses usually won’t fall under materials, so the “other” section is where the construction invoice template should list them. Otherīe sure to include a section for other expenses you plan to bill for.
However, cost-plus contracts also care little about labor, so it’s okay to remove this section. Include a column for each of the following: the labor description, the rate per hour, the number of hours, and the total.Īgain, lump sum and unit price contracts aren’t concerned with labor costs. Laborįor the sake of transparency, include a labor breakdown in your construction invoice template. Lump sum and unit price are less concerned with individual materials and more concerned with overall amounts and percentages. Finally, include a column tallying the price times the quantity.įor lump sum and unit price contracts, these columns might change. Include a column for the description of the material, a column for the individual price, and a column for the quantity. When it comes to breaking the invoice down into the nitty-gritty details, you’ll need to include a section for materials. The labor and materials in the following sections will explain further. You don’t have to get too into the weeds on this point, but give a brief description of the work for which you’re billing. Project owners and GCs receive invoices all the time, so be sure they understand what they’re paying for by explaining the work performed. If there is a specific person that needs to receive it, call attention to their name on the invoice.
In cases where the customer information might be different than the project information, be sure to include it on the construction invoice template. But if you consider that general contractors, real estate developers, and project owners might be running 3 or 4 jobs at one time and from different bank accounts, the name and address of the job site can be critical to getting paid quickly. Including an area on the template for project information seems basic. It’s a simple addition and can keep your invoice from getting kicked back after sitting on a desk for a few weeks.
Some accounts payable departments won’t accept an invoice without an invoice number. Also, this date will be used to determine late fees and interest when applicable. The customer may see it as the mark of urgency, prompting them to pay sooner rather than later. The Dateĭon’t underestimate the importance of including the date on your invoice template. The construction invoice template needs to include your business name, address, and contact information, like email and phone number. Your Informationįirst, be sure that your customer knows exactly who is sending the invoice. If you’re developing your own construction invoice template, be sure it includes the following critical elements. It needs to contain certain information to ensure it reaches the right people and leaves no room for doubt or mistakes. When it comes to billing for your work, your construction invoice should be bulletproof.
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