View your SOV for the current period

Linarc fetches the task progress percentages and the expenses incurred under various cost types, like material, labor, equipment, etc., for each task for every SOV generation period and updates the table of available SOV items. Contractors can selectively push the items for the current billing period and publish the SOV for that billing cycle for approval. The remaining items will be available for future billing cycles.  

Once the contractors publish the SOV items, the general contractor can assess and approve/revise them enabling the contractors to generate invoices for the current billing period. General contractors can also access the SOVs generated for the self-performed tasks and push them for approval and invoicing. 

The 'Task Progress Value' screen allows you to:

• View the available SOV items
• Submit the SOV items for approval

To view the available SOV items

• Select the project from the portfolio screen to open its management console.
• Click 'SOV' on the top, then select 'Task Progress Value' on the left.

 The table shows the list of SOV items that are eligible for invoicing.

• Outline/WBS - The serial number of the task item in the contractor schedule in the outline numbering system as per the hierarchical structure of tasks.
• Task Code - The cost code for the task item. 
• Task Name - The label of the task item as in the contractor's schedule.
• Scheduled Value - The planned overall cost of the task.
• Work Completed 
  • Last Period - The gross total billable amount incurred for the task up to the previous billing date.
  • This Period - The gross billable amount incurred for the task in the current billing period.
• Stored Materials - The amount of materials procured for the task and remaining for future work.
• Net SOV - The amount billable for the current billing period, excluding the retainage, in USD. ('This Period' - 'Retainage' )
• Retainage from this SOV - The amount retained from the gross billable amount for the current billing period, as per the agreed SOV terms. 
• Cost to date - The gross total billable amount incurred for the task up to the current billing date, including retainage (Work completed 'Last Completed' + 'This Period')
• Balance to Finish - The remaining amount in the task's total planned cost, after the current billing cycle. ('Scheduled Value' - 'Cost to Date')
• Total Retainage - The total value of the amounts retained from previous billing cycles. 

You can select the items you want to submit for this billing cycle by clicking the checkboxes in the 'S.No' column and clicking the 'Move' button. See the next section 'Submit your SOV for approval' for more details.