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Manage Funding Sources & Uses in a Draw
Manage Funding Sources & Uses in a Draw

Utilize automated calculations and manual input options to track the funding for each project draw.

Tom Martin avatar
Written by Tom Martin
Updated over a week ago

Rabbet uses the terminology "Funding Sources & Uses" to describe the various forms of capital that contribute to a construction project. Common examples include: developer equity, equity partner contribution, and bank loans. You can track the capital sources that apply to each draw using Rabbet's funding sources & uses tools.

Basic Funding Source Tracking

To get started, your project needs to be configured so that these funding sources will be visible in each draw. Completing the funding source tracking in the draw always occurs after the draw amounts for each line item have been finalized. Navigate to the 'Funding Sources' tab.

The 'Funding Sources' tab will outline the requested amount for the draw. Input values for the applicable project funding sources to reduce the difference to $0.

Automated and Advanced Funding Source Tools

Toggle ON the 'Auto allocate funds' button to trigger Rabbet to calculate the draw funding from each source. This automated calculation is based on the parameters configured for this tool in 'Project Settings'.

In Project Settings > Funding Source you can set the order of payments, pari passu, and percentage.

When the 'uses of funds' tool has been enabled in the 'Project Settings', you will see the full budget detail (line items) on the 'Funding Sources' tab. Toggling ON the 'Auto allocate funds' button calculates the draw funding by line item based on the parameters configured in the 'Project Settings'.

You can override any of the automatically calculated funding amounts by typing a new value in the field. This manual change to the funding source for any line item will toggle OFF the 'Auto allocate funds' button and you will need to 'save changes' before navigating elsewhere in the application.

Tip from Customer Success: toggling the 'Auto allocate funds' button back ON will overwrite any manual edits made.

If a funding source has been restricted from funding a particular line item or division, you will not be able to edit the corresponding field. In the example below, the project has been setup so that the "Bank Loan" cannot be used to fund 'Soft Costs'. Notice that the 'Soft Costs' fields have been grayed out.

Click 'Submit' before navigating elsewhere in the application to save any changes.

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