Agree the final account and release retention
Close the contract cleanly: settle the final account from the agreed variations and valuations, release the retention that is due, and report the outturn against budget.
How it works, step by step
3 steps across the platform - what you do at each one, and why it matters.
Build the final account
ContractsPull the agreed variations and the certified valuations into one final account, settle the last few open items, and confirm the total both sides are signing up to.
Why: A final account assembled from loose emails is one nobody trusts to sign. Building it from the variations and valuations already agreed is what turns a negotiation into a number everyone can accept.
Release the retention due
FinanceAgainst the agreed account, release the retention that has fallen due now the defects are cleared, and set the final payment, keeping back only what a live defect still justifies.
Why: Retention sat on past its release date is the subcontractor's money you are holding for no reason, and it poisons the next tender. Releasing it on time is fair, and it is what gets you a keen price next round.
Report the outturn against budget
ReportsRun the report that sets the settled final account against the budget you started with, break down where the money moved, and file it as the closing position on the job.
Why: A job closed with no outturn report teaches you nothing for the next one. Setting final against budget is how you see which trades and variations drove the result and price the next project sharper.