Owner Financial Management User Guide

As the project progresses and its contracts have been created and approved, you can start inviting collaborators to bill you. There are two (2) types of invoices in Procore:

• Funding invoices. If you are a project owner receiving funding from a bank and need to create draw requests, you can use the pre-fill features in Procore to create an owner invoice. With the pre-fill feature available on owner invoices, Procore allows you to create an owner invoice that automatically pulls in all the invoiced amounts from your project's approved subcontractor invoices, relevant direct costs, and approved commitment change orders. Procore can also compile that data into a PDF when you need to create your draw request or payment application.

• Subcontractor/Contractor invoices. If you have downstream contracts being managed in Procore's Commitments tool (for example, your contractors, subcontractors, and other specialty contractors), you can also create downstream invoices. These invoices are used by your downstream collaborators to bill you for the work they complete as the project progresses.

To learn more about invoicing in Procore:

• Manage Billing Periods

• Add Invoice Contacts to a Purchase Order or Subcontract

• Create a Funding Invoice

• Create an Invoice on Behalf of a Subcontractor (In this context, a 'subcontractor' could be a contractor or general contractor)

For more information, see the Commitments landing page and the Funding landing page.