'Hard Costs' Tab within a Draw
The 'Hard Costs' tab displays a filtered view of the budget line items configured as hard costs. Not sure which line items are configured as hard costs in Rabbet? Check out this article to learn how to review and change this information:
In addition to displaying the draw amount and retainage for the hard cost line item(s), the 'Hard Costs' tab breaks down this information by general contractor and subcontractor. Lastly, lien waiver coverage can be viewed in aggregate for both the GC and subcontractors.
Configure an Organization as the General Contractor
Navigate to the 'Stakeholders' dropdown in the 'Project Settings' tab. Designate the appropriate organization as 'general contractor' when selecting the 'Project Role'.
The GC can also be configured directly from the document review modal. If an organization has not been previously configured as the project GC, a blue alert ribbon will ask you to 'Set selected vendor as a General Contractor and save'.
Configuring a GC allows you to nest subcontractor pay apps and lien waivers as backup within the GC hard costs.
Processing Subcontractor Pay Applications
The draw amount and retainage for the hard cost line item(s) will be created when processing the GC pay application in Rabbet. Adding subcontractor supporting documentation will not create a duplicate cost on a given line item as long as it is marked appropriately.
When uploading and assigning a subcontractor pay app or invoice, input the 'Current Payment Due' and select the 'Hard Cost Line Item' to which the sub costs are assigned. It is important that the budget line to which the sub costs are assigned is consistent between the GC pay app and sub back up pay app assignments.
Select 'Do Not Apply to Draw' to indicate that this document is backup and should not create a duplicate draw request on that hard cost line item (since the GC pay app is the main backup for the requested amount and updating the budget).
If the sub backup needs to be assigned to multiple budget line items (because those costs were allocated that way when the GC pay app was assigned), then click 'Show Multiple Line Items'
When multiple line items are input during subcontractor back up pay application assignment, follow the same completion steps as required during the CG pay application assignment.
Again, be sure to select 'Do Not Apply to Draw' to avoid creating a duplicate counting on the budget.
Navigate to the 'Documents' table to ensure that a backup document has been marked appropriately. A file box symbol in the 'Backup' column indicates that the amount on that document has NOT been applied as a primary budget cost.
Supporting documentation can also be indicated as backup in a batch. Select the documents that are backup and click 'Do Not Apply to Draw' at the top of the documents table.
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