A final bill is the last bill a contractor submits after the work is completed, which re-measures the total work done, adjusts everything paid through earlier RA bills and advances, and shows the balance payable or recoverable.
It is based on final measurements of all work, including variations and extra items agreed during the project, with deductions for earlier payments, advances, retention, and any penalties.
Part of the retention is commonly held back until the defect liability period ends, so the final bill may not close the contract completely.
A clean set of RA bills, measurement book entries and approvals makes the final bill quick to prepare and easy to agree.
Contractor bills are recorded against the project as they are received, so when the work is done you already hold the history of payments and balances needed to settle the account. See all features.
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