GCPay’s integrations with leading construction ERP’s such as Sage 100, Sage 300 CRE, Sage Intacct, Viewpoint Vista, CMiC, and Acumatica are well documented, but many may not know that GCPay recently completed its integration with Procore Project Financials as well. We will take a deep dive into what exactly this integration means for construction teams such as accounting, finance, and project managers.
One key to the integration is construction project management. When a user decides they want to manage a project in GCPay, the details pull over from Procore. This will determine which jobs they’d like to manage, select which company a job falls under, and then pull that project into GCPay directly.
Each user will see approved and interfaced contracts. It’s up to them what they want to manage through GCPay and what they don’t.
The construction pay app system accepts a constraining of schedule of values.
Even though there are automatic syncs, sometimes someone will need to sync something quickly. A user can force a sync! GCPay will go to Procore – look to see what needs to be approved – that’s when a user would see that change order from a subcontractor come in – all base contract items will post back to Procore on the base contract and billing against that change order will post that in Procore.
Sometimes, customers will tell GCPay, “We want X dollars line item 1 and Y dollars for line item 2.”
And we say, “No problem!”
When a user sets up the contract in Procore, they have those 2 items. When the items push into GCPay, the sub can break them out, and as they submit invoicing against those items, it will roll up to the contract item.
Connecting subcontractors to construction finance and project management teams
We’ve talked about items coming FROM Procore (subcontract, purchase orders and change orders).
We have information that will flow TO Procore (payment applications).
Payment Applications to Procore
In GCPay, part of the payment management process is the collection of lien waivers.
For some companies, lien releases are attached with electronic payments in the platform.
- A Conditional Waiver (sub needed to sign as they submit payment application). It does have electronic signature with the ability to electronically notarize documents.
- Payment Exchange Waivers mean this sub submitted the waiver with pay application number 1. This is unconditional; it’s watermarked to protect the subcontractor. This says, a user will be paid electronically through platform. As part of that, we’ll collect a user unconditional up front. It’s held in escrow. Once the GC pays the sub, we’ll release the waiver. We know the money has been transferred to the sub, so we release the waiver to the general contractor.
This is optional. A user can still pay subs as a user would today.
Users will approve the pay application in GCPay.
If Project Accountants responsible for keying invoices today – they can access this at the project level and import just for the projects.
A user could import the data & images that go with it (any backup documentation lives in GCPay and can push into Procore).
If a user imported attachments and multiple invoices, as you scroll through, they can see any attachments and that they reside in Procore.
Process – Validate – Post
Eliminate hand keying and human error.
Procore provides automation where documents uploaded in GCPay prior to export will be pushed to Procore upon export of the pay app.
In summary, GCPay is a complimentary software solution that, now with an integration with Procore, provides construction finance teams a complete solution that connects project managers, subcontractors, and accounting departments. Better manage your subcontractor relationships and payments with this simple addition to your construction technology stack.
Q: Can there be more than one contact email for each sub?
A: 100%… subcontractors can have as many users as needed. A user can have multiple contacts for each subcontractor.
Q: GCPay integrate with Procore in Canada?
A: Yes! Lien Waivers would go away, and users will have statutory declarations instead, but the process is the same with the same benefits. Progress claim payment information can push back to supported ERPs via the Procore integration.
Q: Authorize subcontractor payments restricted to individuals?
A: Yes. There are permissions to ensure that certain individuals can make the subcontractor payments.
Q: What does a sub see when they log in?
A:! A subcontractor can see their schedule of values and submitted pay applications. As payment goes through the payment process… they can see compliance information… notice their inability to update that information. They can upload their certificate of insurance but can’t touch expiration dates or limits.
Q: Any limits on amount paid daily to a sub?
A: GCPay doesn’t have any daily limits for payments performed through the system using the ePayment and Waiver Exchange feature.