CHS Seminar Lesson 5 - Change Orders, Allowances (Options), & Contract Balance

Create Change Orders, issue Change Order Purchase Orders (or Work Orders), sign Builder Approval of CO, and have buyers sign Approval of CO online. Post a Payment Received For The Change Order. Set up and track Allowances (or Options) and Allowance Over/Under adjustments. See the effects of Change Orders and Allowance Adjustments on the current Estimated Costs At Completion (ECC), on the Job Cost Variance Reports, on the Profit Status of the Job, AND the effects on the Contract Price and the resulting Contract Balance Report.