(Beta) Approve Fundings

Objective

To change the status of a funding for a construction project to 'Approved.'

Background

After creating a funding and updating its Schedule of Value (SOV) line items, the agreement between the funding source and your company can be finalized. To do this, place it into the Approved status. Your team can now begin creating the following items: Create a Funding Change Order, Create a Funding Invoice, and Create a Payment Received

Things to Consider

• Required User Permissions:
  • 'Admin' level permissions on the project's Funding tool

Prerequisites

• Create Fundings
• Update the Schedule of Values on a Funding

Steps

1. Navigate to the project's Funding tool.
2. Locate the funding to work with. Then click its Number link. 
3. Click the Edit Contract button.
4. Under General Information, choose Approved from the Status drop-down list.
   
5. Click Save.

Next Steps

• Create a Funding Change Order
• Create a Funding Invoice
• Create a Payment Received

See Also

• Create Fundings