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Training Subcontractors Accounting (BAC04)

Subcontractors Accounting


Course Outline

Gain an in-depth understanding of Subcontractor Accounting, the measurement and certification of work as well as the variations and contra-charges functionality. This course will build on your basic grasp of procedures and leave you comfortable with advanced features.

Recommended For

Quantity Surveyors, Accounts clerks and Accountants

Duration

2.5 hours

Pre-Requisites

  • Knowledge of the subcontractor certification process on a life to date basis is required
  • Acceptable level of experience, with clear understanding of Retention and Variation Management
  • Computer literacy and keyboard proficiency is assumed

Curriculum

  • Management of Subcontractors' Master – Additions and updates to existing master file’s manually or via user-defined imports
  • Subcontractors Reconciliation Process – Overview on how to process and post subcontractor reconciliation certificates either directly in BuildSmart or via Candy integration. Retention and advance management and posting via a workflow
  • Blocking an Item for Payment
  • Subcontractors’ Payments – Via payment batches and ledger transactions, EFT/cheque extractions and remittance advice distribution via email
  • Subcontractors Reporting
  • Subcontractors Month End procedures

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