How do I verify the Change Order value is accounted for in the financials of the Project?

Purpose

To verify that a Change Order is correctly reflected in the financials of a project in Contractor Foreman.

Background

Once a Change Order has been created and approved, you can review the project’s financial information in several areas of Contractor Foreman.

The Project Summary, Financial, and Schedule of Values sections provide different ways to confirm that the Change Order value is included in the project’s financial information.

1. Check the Project Summary

1. Navigate to the Projects module.
2. Open the project associated with the Change Order.
3. Select Summary from the left-side menu.
4. Locate the Project Summary widget.
5. Review the following amounts:
6. Original Contract Amount (w/Tax) — the original contract value.
7. Change Orders (w/Tax) — the value of Change Orders included in the contract amount.
8. Total Project Amount (w/Tax) — the updated project contract amount, including applicable Change Orders.

The Change Orders (w/Tax) amount can be compared with the Total Project Amount (w/Tax) to verify that the Change Order value has been incorporated into the project total.

2. Review Individual Change Orders in Financials

The project’s Financial section provides a detailed view of the financial records associated with the project.

1. From the project’s left-side menu, select Financial.
2. Scroll to the Money In section.
3. Locate Change Orders.
4. The number next to Change Orders indicates how many Change Orders are associated with the project.
5. Expand Change Orders to view the individual Change Orders.

Review the Change Order’s:

• Number
• Date
• Subject
• Status
• Total amount
• To preview a Change Order, click the eyeball icon.
• To open the Change Order record, click the open/external icon.

Understanding the Change Order Status

Pay attention to the Change Order’s status when reviewing its financial impact. In the current interface, Change Orders can have statuses such as Open, Pending Approval, On Hold, Unbilled/Approved, and Billed.

The status helps you determine where the Change Order is in the approval and billing process.

3. Verify Change Order Items in the Schedule of Values

You can also review Change Order items and their financial values through the project’s Schedule of Values.

1. Select Schedule of Values from the project’s left-side menu.
2. Locate the Change Orders Items section.
3. Expand Change Orders Items if necessary.
4. Review the financial information displayed for the Change Order items, including:
   Invoiced
   Remain
   Sub Total
   Est. Profit

This provides an additional way to verify how the Change Order items contribute to the project’s Schedule of Values.

4. Compare the Financial Information

For a complete review, compare the Change Order information across the three areas:

1. Project Summary — confirms the Change Order value included in the overall project amount.
2. Financial — provides the individual Change Order record, status, and total.
3. Schedule of Values — shows the Change Order items and their invoiced and remaining amounts.

If the values do not appear as expected, review the Change Order’s status, amount, and individual items to determine whether additional action is required.

Important Note About No Cost Change Orders

• A No Cost Change Order does not increase the project’s contract amount because it is specifically designated as having no financial impact on the contract.
• When reviewing a project, make sure you understand whether the Change Order is a standard Change Order or a No Cost Change Order before comparing its value against the project’s total contract amount.

Additional Tips

1. Review the Change Order status before evaluating its financial impact.
2. Use the Financial section to verify individual Change Order totals.
3. Use the Schedule of Values to review Change Order items and their invoiced and remaining amounts.
4. Use the Project Summary to confirm the overall impact on the project’s contract amount.
5. If a Change Order is not reflected as expected, verify that the Change Order has been entered correctly and has reached the appropriate status.