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January Release Notes
What Our Clients are Saying
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Upstream Grouping
In our latest release, we added new functionality to GCPay’s owner billing tool that allows GCs to establish groupings when creating an owner SOV. These groupings can be used to assist the line-item organization of an owner schedule, which will be reflected on all upstream bills from the GC to an owner and subtotaled on the G703 Continuation Sheet.
When creating an owner SOV, users can now add additional columns, such as CSI Divisions, Cost Code, Phase, Category, or Extra, and then sort by such columns to form cohesive cost groupings for internal analytics or to suit an owner with specific cost breakdown requirements.
Custom Billing Dates Add Flexibility to GC Project Management
GCPay allows general contractors to customize their billing terms with subcontractors and even change the billing date on an individual project basis. In the project settings under the projects tab on the company level menu selection, a GC can scroll down to billing options to make the customization.
There are two checkboxes: one for selecting a billing reminder to be sent a week before the due date, and one for closing out the month after the selected billing due date. Any day of the month or “last day of the month” can be selected. This allows for general contractors to change the billing date term by project instead of having to operate within calendar months for all billings. This feature gives general contractor accounting departments greater flexibility in managing their subcontractor payments.
The New, Improved ePayment Platform in GCPay
Happy New Year! Looking back to 2023, a major milestone was achieved regarding our ePay solution. Migrating our safe and secure ePayment system to a new platform included improvements that make it fully automated, providing an even better 100% turnkey and error-free experience. Clients using ePayment fully transitioned in Q3 to FastPay by AvidXchange. The results of the transition improved our market competitiveness and overall ease of use while surpassing our expectations. Since the new platform was implemented, we’ve seen even greater adoption from clients who are taking advantage of the new features such as treasury assistant role and payment queues. In addition to automated transfers, GCPay clients can create payment queues which make it easier to set up or remove pay app billings from a payment batch. By the end of last year, GCPay had processed almost 9,000 transactions totaling nearly half a billion dollars in subcontractor payments through FastPay. Subcontractors receive expedited electronic payments while general contractors gain peace of mind knowing that when their secure payment has been confirmed, any applicable waivers are received back in real time. A real win-win for both.
If you’d like to learn more and see the new ePayment features in action, please reach out to your Account Manager for a customized demo. We hope that it surpasses your expectations, too!
This month, GCPay released several new features, enhancements, and bug fixes, in addition to the Owner SOV Groupings presented above. To see all of the latest updates to GCPay, click the button below.
We're just a few weeks away from the first trade conferences of the year for GCPay!
If you are an Acumatica client, please join us at the 2024 Acumatica Summit from January 28th to 31st at the Wynn in Las Vegas, where we are a proud Platinum Sponsor. Stop by Booth #400 to say hello to the GCPay team and learn more about our Acumatica integration!
If you are a Sage client, please join us at Sage Transform 2024 from February 26th to 29th at the MGM Grand in Las Vegas. Stop by the Sage booth to chat with the GCPay team!
Get the most out of GCPay! Visit Client Central, your one-stop destination for valuable customer resources!
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