Managing the Contract Tab in Ontraccr (Schedule of Values, Billing, Holdbacks, and More)

📜 Managing the Contract Tab in Ontraccr (Schedule of Values, Billing, Holdbacks, and More) Overview
 

The Contract tab in Ontraccr lets you break down your project’s contract into a detailed Schedule of Values (SOV).

From here, you can bill progressively, track changes, manage holdbacks, and generate client-ready PDFs — all without touching your internal budget tracking.

🎯 Why Use the Contract Tab?

• Break down lump sum contracts into detailed billing line items.
• Track holdback/retainage amounts.
• Lock SOVs once finalized to avoid accidental changes.
• Export professional billing PDFs to clients.
• Import standard templates for faster setup.
• Manage subcontracts, changes, and special billing items.

🛠️ Core Actions on the Contract Tab

📄 Set Up the Schedule of Values (SOV)

You can either:

Import a Template (if available)

➡️ Good for repeatable project types.

Create Manually:

• Enter your Base Contract Value (total $ amount).
• Click Add Row to add individual line items.
• Enter:
  • Description (e.g., "Foundation Work")
  • Contract Amount for that item.
• Repeat until your full base contract is allocated.

✅ You must allocate 100% of the contract value across line items for clean billing.

🔒 Locking and Unlocking the Schedule of Values

• After you finalize your SOV with the client, click Lock.
• This freezes the SOV — no further edits allowed unless manually unlocked.
• Unlocking triggers a warning about possible downstream calculation issues.

🧠 Tip: Only lock after the client fully approves the breakdown.

🛡️ Setting Up Holdback (Retainage)

• Click the Toggle Holdback switch.
• Enter a Holdback Percentage (e.g., 10%).
• This adjusts how much of each invoice is withheld until project completion.

✅ Great for industries where retainage is standard.

📤 Exporting Contracts

• Click Export to generate a PDF of the current SOV.
• Customize:
  • Show/hide your logo.
  • Add custom header fields (e.g., Project ID, PO Number).
• Download or print the generated PDF.

✅ You control what sections appear in the export!

📥 Importing Contract Templates

• If no SOV exists yet, the Import button will be available.
• Pull from Settings → Customization → Project Contract Templates.
• Apply a saved template instantly to avoid building from scratch.

✅ Importing is only available before you manually create line items.

🧩 Managing Additional Sections

The Contract Tab includes:

➕ How to Add a Custom Section

• Click Add Section (red button at bottom).
• Name your section (e.g., "Change Requests").
• Choose whether to include/exclude it from billing calculations.

🧠 Tip: Exclude sections from calculations if they are for internal tracking only.

💳 Progress Draws and Invoicing

When billing for progress:

1. Update percent complete or invoice amounts per line item.
2. Click Submit to enter the Review Stage:
   • Add a note (e.g., "April 2025 Draw").
   • Attach supporting documents (if needed).
3. Confirm and export a progress billing PDF.
4. Invoice summary includes:
   • Total completed
   • Less previous billings
   • Holdback applied
   • Net amount due

✅ Each draw creates a fully traceable billing record.

🔄 Integration with Forms: Update Contract Step

You can automate adding change orders into the Contract tab:

• Use the Update Contract workflow step inside form workflows (e.g., Change Orders).
• Match the Section Name exactly (e.g., "Changes" or "Change Requests").
• Form data will auto-create new rows inside the appropriate section.

✅ Dynamic and flexible — perfect for automated project control!

🧠 Key Tips and Edge Cases

• Lock carefully: After locking, changes can cause calculation mismatches downstream.
• Holdback is optional: Not every contract needs retainage — toggle it based on project type.
• Template first, manual second: Always import templates before adding any manual rows.
• Audit Trail Everywhere: Every edit has a History record showing who made changes and when.
• Subcontract Change Management: Click Info beside subcontract rows to manage subcontractor-specific change orders.

✅ Example Scenario

You're managing a $1M condo project:

• You break the base contract into 10 major items (foundation, framing, plumbing, etc.).
• Apply a 10% holdback.
• Add approved change orders during construction.
• Export clean progress draw PDFs monthly.
• Track subtrade billings separately under Subcontracts.

Result: Smooth billing, accurate tracking, happy clients!

🚀 Summary

The Contract Tab in Ontraccr gives you full control over project billing, schedule of values, retainage, and change management — keeping your project finances clean, professional, and accurate from start to finish!