The Retention Tracker has been specifically designed for contractors and sub-contractors operating in the Construction Industry. It produces professional reports for your payment applications and retention claims. It makes it easy for you to reconcile your accounts and manage your credit control activities. The system is easy to use and provides a complete working environment to help you manage your contract billing process.
Key Features
- Centralised database to secure your data and make it easy to retrieve records at a click of mouse.
- A payment application module to allow you to easily create and print your payment
applications. It automates many manual tasks including:
- Automatically calculates the retention, discount and payment application values.
- Automatically numbers the payment applications.
- Automatically calculates the final application including the 50% retention re-claim value.
- Automatically calculates the retention claim figure.
- A retention reminder function to alert you when the retention claim period is nearly over. You can produce the retention claim report at the click of a mouse and you don't have to worry about working out what figure to claim as the system does this automatically.
- A payment/receipt recording module to allow you to enter the contractor's payments.
- Write-off adjustments when reconciling and closing the contract.
- A contract account summary that provides an instant view of the financial status of each contract helping you respond to any contract queries and manage your credit control activities.
- A range of management reports to aid financial and operational decision-making such as calculating the retention accrual for your management accounts and completing cash forecasting activities.
We offer a customisation service for organisations that require the system to be modified to work with their current systems and specific requirements. For more information about our customisation service please call +44 (0) 1202 295951
System Features and Screenshots
| Contract Dashboard |
The Retention Tracker features a simple to use dashboard intended to allow users
to quickly retrieve contract records or create new contracts. You can
create new payment applications, issue retention claims and enter receipts.
The status summary helps you manage your workload and keep up-to-date with
all your contract billing requirements.
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| Managing Contracts |
The Retention Tracker creates a separate job for each contract. It stores the contractor's details, site
address and site agent, payment terms, discount terms and retention terms. You can also process contracts
that don't have retention deducted. When answering contractor calls you can quickly retrieve the relevant
record to assist in answering any queries.
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| Payment Applications |
The Retention Tracker has a sophisticated application form that makes raising the payment applications
easy and accurate. It removes the need to re-enter the contract and billing information. The final account option will automatically calculate
the 50% retention re-claim figure. It avoids minor calculation errors that occur when doing the job manually.
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| Receipts/Payments |
The Retention Tracker has a receipts module that allows you to easily enter the payments made to you by the contractor.
It includes a write-off feature to allow you to reconcile those annoying differences. The receipt information is displayed
in the summary view and combined with the payment applications provides a snap-shot of the current financial position for
each contract.
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| Retention Reminders | The built in reminder function alerts you when the retention is due to be claimed. You can review each contract and when ready issue the Retention Claim application. There is no need to calculate the figures as the system will do it automatically. The process is quick, reliable and accurate - you no longer have to check your spreadsheets or manually work out the correct figures. |
| History |
There is a complete job history for each contract. It is updated automatically and can be reviewed at any
time. This information is helpful when dealing with customer queries. Comments and notes can be added to the history
to record special issues. A "Must Read" flag can be displayed to notify users that there is important information they
need to read before carrying out any tasks or talking to the contractor.
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| Reports |
There are a range of management reports to aid critical business decisions, including:
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| Export MS Excel | If you wish to carry out your own data analysis the system has a data export facility. This allows you to select a range of data and export it to a CSV file. The CSV file can then be opened in Microsoft Excel and you can manipulate the data to suit your needs. |
| Networked Options | The Retention Tracker is available as a single user system and as a full client-server, multi-user system. The multi-user version of Retention Tracker supports a fully customisable security system to ensure that job details are kept secure and safe. |