About Owner Invoices (Beta)
Objective
To provide Procore users with information about owner invoices in Procore.
Background
Procore's Invoice Management product includes the Project level Invoicing tool, which supports two types of invoices on a construction project:
- Subcontractor Invoices
In construction accounting, accounts payable (A/P) refers to the bills received from your downstream collaborators. From the perspective of a Procore company account holder, these are the subcontractor invoices created in the project's Commitments tool that bill against your project's purchase orders and subcontracts. - Owner Invoices
In construction accounting, accounts receivable (A/R) are the bills sent to upstream collaborators for payment. From the perspective of a Procore company account holder, these are your owner invoices. Owner invoices are created in the project's Prime Contracts tool and you send them to your upstream collaborator(s) as bills for the work you perform on your project's prime contracts. Procore can also expedite the payment process, by automatically generating your owner invoice(s) and completing them with amounts from your 'Approved' subcontractor invoices.
Prerequisites
Steps
- Create Your Owner Invoices in Procore
- Optional: Export Your Owner Invoices to an Integrated ERP System
Create Your Owner Invoices in Procore
The steps for creating owner invoices in Procore include:
| Step | Description | Learn More |
|---|---|---|
| Decide who can create prime contracts and owner invoices on your project | Provide these users with 'Admin' level permissions on the Prime Contracts tool. Procore recommends using a permissions template to manage user access to your prime contracts and owner invoices. See What is a permissions template? | Create a Project Permissions Template |
| Create a prime contract | Create one or more prime contract(s) on your Procore project. The prime contract must be in the 'Approved' status before you can create an invoice against it. | Create Prime Contracts |
| Configure the owner invoice settings on the prime contract | Configure the 'Owner Invoices' settings in the Advanced Settings of a prime contract. | Edit the Advanced Settings on a Prime Contract |
| Decide if you want to electronically complete the required signatures with DocuSign® | Since prime contracts and invoices are legal documents, decide how you want to complete the signature process. Your options are:
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| Create a billing period for your invoices | Create a billing period, which defines the start, end, and billing date for an invoice. | Create Billing Periods |
| Create an owner invoice | Create an owner invoice to use when submitting your application for payment to the upstream collaborator for your work in the current billing period. | |
| Optional: Complete the Owner Invoice in DocuSign® | Once you've created and approved the invoice, you can complete the signature process in DocuSign®. | Complete Owner Invoices with DocuSign® |