SUBCONTRACTOR PAYMENT AND INVOICE PROCESSING

Created by ChecklistGuro (https://checklistguro.com)

[ ] Retrieve Subcontractor Master Data: Fetch subcontractor details (tax ID, payment terms, and bank info) from the Subcontractor Data Model.
[ ] Create Invoice Entry: Generate a new Invoice record in the Invoices Data Model when a new billing cycle begins.
[ ] Retrieve Work Orders: Get all approved Work Orders associated with the specific Subcontractor to verify billable work.
[ ] Sum Completed Work Order Totals: Aggregate the total cost of all completed Work Orders to validate against the submitted invoice amount.
[ ] Calculate Tax and Total Due: Apply tax percentage to the subtotal and calculate the final total amount payable.
[ ] Task: Verify Invoice Accuracy: Create a task for the Accounts Payable Clerk to verify that the invoice matches the work completed.
[ ] Task: Budget Compliance Check: Create a task for the Project Manager to ensure the invoice does not exceed the project budget.
[ ] Update Invoice Status to 'Under Review': Update the status field of the Invoice entry to reflect it is currently being audited.
[ ] Update Invoice Status to 'Approved': Update the status field to 'Approved' once all validation tasks are completed.
[ ] Notify Subcontractor of Approval: Send an email to the subcontractor confirming their invoice has been approved for payment.
[ ] Create Payment Instruction Entry: Generate a new entry in the Payments Data Model to trigger the actual fund transfer.
[ ] Update Invoice Status to 'Paid': Update the Invoice record to 'Paid' once the payment entry is processed.
[ ] Send Payment Advice to Subcontractor: Send an automated email containing the payment reference number and date to the subcontractor.
[ ] Generate Monthly Subcontractor Spend Report: Create a summary report of all processed payments and outstanding liabilities for the month.
[ ] Remove Draft Invoices: Delete any expired or duplicate draft invoice entries that were not progressed to review.

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