Introduction

introduction

The powertool is an online system dedicated specifically to managing fully compliant (with Australian security of payment legislation) payment processes.

It allows you to:

  • Create an account for your company with information that is relevant to your payments, including contact details and addresses, ABN, ACN, licence numbers, workers compensation and insurance;
  • Create an account for each of your customers to whom you will be sending invoices and payment claims;
  • Set-up a fully compliant payment claim template for each new job, with a payment schedule, payment dates, retention and other important payment details.
  • Add new variations to the payment schedule as they occur, so that you do not forget to claim variations.
  • Adjust Provisional and PC Sums and add defects.
  • At each reference date, make a fully compliant payment claim that is sent direct to your clients inbox for immediate attention.
  • Your client can make alterations, add defects and backcharges and return a fully compliant payment schedule to you in minutes for your approval. Your payments will always have priority because they are presented in a fully compliant industry standard and your client can deal with a payment claim within minutes of receiving it.

    When you receive a payment claim, you can approve it for payment or reject it. When you approve it, the system automatically sends a tax invoice. This is the correct time to send a tax invoice and will save the you time and expense of either re-issuing tax invoices, or worse, paying for invoice adjustments with your BAS statement. From your client's perspective, the tax invoice can go direct to accounts payable, satisfied that it has been approved for payment.

    If you are not satisfied with the payment schedule you can send it directly to adjudication with the AIQS Authorised Nominating Authority. There is no delay, no gathering contracts and documents. It is all there ready to go. The adjudication process will be faster, more economical and, because everything is fully documented, you run much less risk of destroying good working relationships. You can be safe in the knowledge that you payment claim will be adjudicated by qualified quantity surveyors, trusted industry experts in payment.

    On completion of each payment you can see a summary of your contract price, with variations, amounts paid and how much is left to complete the contract.


    Copyright 2010 thepowertool pty ltd Patent Pending  ABN 86 142 139 740      Terms&Conditions     Privacy Policy      Contact Us