Progress Valuation
Statements in Smetter are generated automatically from the “Quote” or “Documents” tab. All created statements are saved on the “Progress Valuation” tab.
Smetter generates statements for the Client based on actual purchases and completed work, applying the markups specified in the Work Package to the actual amounts. This means the Client always sees up-to-date information about the Value of Work Performed and the Value of Materials Supplied.
By default, Smetter generates statements using the prices specified in the Quote approved by the Client. This corresponds to working under a fixed-price contract. You can change this approach and generate Plan vs actual data and statements based on the specifics of the work and your agreements with the Client.
The “Client statements: select basis of calculation” button opens a window where you can select the required settings:
“Prices for materials, equipment, delivery” setting
Selecting Planned prices includes supplied materials and other items in the statement at the prices specified in the original Quote. Use this option if you supply materials to the construction site with a markup for the Client.
Selecting Actual prices includes prices based on actual purchases in the statement. Use this option if you report material costs to the Client using invoices and receipts. Labor cost will always be shown at planned prices.
“Quantities of purchased materials and completed work” setting
When Planned values are used, the quantities of completed work shown in the statement will not exceed the originally planned quantities. Any savings or overruns will affect profit or costs.
This option is suitable when you have agreed on a fixed Work Package price with the Client. With this method of generating statements, it is especially important to mark fully completed items using the “Close” button.
“Unplanned materials and work” setting
Includes or excludes unplanned items from the statement. You can exclude specific items by selecting Work Package > Progress > Other Expenses > “Do Not Add to Valuation.”
“Items with zero progress in printed statements” setting
Includes or excludes items for which no work has been completed or no materials have been purchased. Including non-started items is useful when discussing current progress and the work plan with the Client.
“Unassigned receipts” setting
Includes or excludes receipts from reporting documents if they have not been added to the Purchases list. If you report expenses to the Client using receipts, simply add the receipts through the app and enable this setting. All receipts and purchased items will be included in the reporting documents, and a detailed Expense Receipts Report will be generated automatically on a separate sheet.
You can save these settings as the default settings for all new Work Packages. To save them, go to the “Company” section at the top of the screen.
The Value of Work Performed shown in the “Analytics” and “Client-side Projects” sections, as well as the amounts shown in printed documents, is calculated according to the statement settings for each Work Package.
Ways to create printable Progress Valuation, Application for payment, and Invoice documents:
- Open the Work Package and go to the Quote tab;
- Create a statement using the Export button or from the Progress Valuation tab (1);
- Select the period for which the statement should be generated;
- The statement will be saved on the Progress Valuation tab, where you can export it as Progress valuation(2);
- Statements are generated according to your agreements with the Client and the Progress Valuation settings;
- A statement can be marked as Signed and Paid (3).
If you add or update information retroactively for work that has already been included in a statement, Smetter will detect the change and prompt you to re-sign the affected statement.
If you change the Progress Valuation settings for a Work Package, Smetter will identify any previously created statements that no longer match those settings and prompt you to re-sign them.
You can also create separate statements for individual Stages by selecting the required period. For this to work correctly, the Stages should be completed one after another.
Clients connected to Smetter can view all issued and signed statements for the Work Package on the Progress Valuation tab, making document collaboration much easier.
If you delete a statement, simply create a new one for the same period. It will contain the same data as the deleted statement, since Smetter generates statements automatically based on the information stored in the system.
Statements for Subcontractors are created on the Works tab.
Result: accurate Progress Valuations for any period, tailored to your agreements with the Client. Save dozens of hours on calculations and document preparation, speed up project closeout. Easily manage any number of Subcontractors while avoiding errors and missed work.