Reciept Upon Payment Of Work

 
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Old 02-19-2007, 02:54 PM   #1
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Reciept Upon Payment Of Work


What do you guys do after the homeowner has paid you for the work commenced on a contracted payment schedule....do you send them a reciept for there payment with a detailed scope of what work has been completed, or do you write on the contract that they paid payment schedule #1, #2 and so on.

Do you make a copy of the check and file the copy under the job name? Any help is graciously appreciated!


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Old 02-19-2007, 05:00 PM   #2
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Re: Reciept Upon Payment Of Work


I write a statement that includes the contract date and total bid/estimate, all previous payments/dates, all change orders/dates, and the current payment/date/check#, and a thank you.
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Old 02-19-2007, 06:12 PM   #3
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Re: Reciept Upon Payment Of Work


We provide a statement at the end of the job that shows all payments and invoices. If the customer wants a receipt before that, we simply print one from Quick Books. Most customers don't ask-- they have the cancelled check or credit card statement.

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Old 02-19-2007, 06:15 PM   #4
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Re: Reciept Upon Payment Of Work


I will hand write on thier copy of the estimate/invoice... The final bill reflects all the payments on it...

I'm pretty small scale though...
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Old 02-19-2007, 08:58 PM   #5
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Re: Reciept Upon Payment Of Work


Each progressive payment is a simple invoice saying something like:

2nd payment........................................... ....$***x.xx
Additional work..............upgraded ***X...........$***.xx
Hidden Defect...............plumbing change order..$***.xx
--------------------------------------------------------------
Total $***x.xx

Pretty simple, I usually tell them the day before that your 3rd payment will be due tomorrow...
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Old 02-19-2007, 09:19 PM   #6
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Re: Reciept Upon Payment Of Work


I write a recipt ANY time I get a payment, no matter the amount, contract or not. On larger scheduled payments, I simply refference the original invoice number, and line list the total paid to date, of course with check numbers and signatures. On my copies, I write the date of the deposits for my own records. Sometimes it takes a week or so to get to the bank, unless it's a fatty, then i'm their bright and early!!
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Old 02-19-2007, 10:49 PM   #7
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Re: Reciept Upon Payment Of Work


once again thanks guys!! I appreciate the feedback!
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Old 02-19-2007, 10:55 PM   #8
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Re: Reciept Upon Payment Of Work


Payment schedules are defined in the proposal and staged in some manner. For me it is usually a downpayment and final payment. However sometimes I have progress payments inbetwee, and the proposal defines those, so an invoice simply reflects the proposal.

If the customer wants a recipet simply hand write something on their invoice "paid to date $X,***.XX, Feb 19th 2006" As a habit I never write paid in full. I have had people try to screw me that way. "Paid to date"

It never hurts to keep copies of anything. However make sure to keep them in a safe place and if any employees have access to the files, you may want to setup seperate secure files.
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Old 02-20-2007, 03:02 PM   #9
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Re: Reciept Upon Payment Of Work


Always save copies of any customer checks!!!

Why? Because if you have to pursue collection or legal recourses to get the final monies sometimes disputed, you know where to have your lawyer slap a judgement on the funds.

On in the job progress payments and the initial deposit amount, I have spots on my proposal to write in the amounts and I sign a RCVD on, w/ theck #, on so and so date.

Final payment gets the final invoice plus a balance statement plus an activity statement showing all previous payments, the initial contract amount and the extra work order charges. On that on I write the same info as above, but paid in full. (I have a clause in my contract that supercedes this statement if the ck bounces)

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Old 02-21-2007, 02:01 AM   #10
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Re: Reciept Upon Payment Of Work


We do the same as Mike, Post #5

Progress Claim No.* $******
+/- Variations to the Contract $******

That's it. They get a Tax Invoice every time.

We record the BSB and Accout Numbers when lodging the Cheque with the Bank. This is just in case they get tight at the end of the job, as Ed siad in his Post #9.

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Old 02-21-2007, 09:53 AM   #11
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Re: Reciept Upon Payment Of Work


Completion slip.... more marketing material... and a warranty.
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Old 02-21-2007, 10:10 AM   #12
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Re: Reciept Upon Payment Of Work


Yes, Damion is correct. In addition to the paid in full invoice, we go through out final end of job evaluation for customer satisfaction sheet and request any referrals they have to offer. I automatically make them have enough time to fill out their paperwork while I am filling out their warranty form. That way, there is no excuse for not completing the form for those who say they will fill it out later, but rarely do.

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Old 02-21-2007, 10:37 AM   #13
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Re: Reciept Upon Payment Of Work


Quote:
Originally Posted by Ed the Roofer View Post
Always save copies of any customer checks!!!

Why? Because if you have to pursue collection or legal recourses to get the final monies sometimes disputed, you know where to have your lawyer slap a judgement on the funds.
That is a gem!
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