Approve a Funding

Objective

To change the status of a funding to 'Approved.'

Background

After the funding is created, you can follow the steps in Update the Schedule of Values (SOV) on a Funding. Once the line items on the SOV are complete and the agreement between the project owner and your company is finalized, you can place the contract into the Approved status. This action allows your project team to begin creating change orders, invoices, and payments issued. 

Things to Consider

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

Prerequisites

• Create Fundings
• Update the Schedule of Values (SOV) 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 button.
4. Under General Information, choose Approved from the Status drop-down list.
   
   
    
5. Click Save or Save and Email.

Next Steps

• Create a Funding Change Order
• Create a Funding Invoice

See Also

• Create Fundings