VAP stands for Valuations and Automated Payments. VAP is concerned with recording the progress of work done on a house-building site and paying subcontractors for the work done.
The main business processes that VAP supports are:
Recording the progress of work on site. Surveyors can record in detail the progress of work against the construction programme. A number of industry-standard valuation and approval methods are available, which ensure that all surveyors work to a consistent process.
Controlling payments. Work on individual plots can be measured against pre-defined build stages, and payments authorised accordingly. This helps ensure that subcontractors are paid correctly for the work they have done and avoids duplicated payments.
Recording materials on site. This provides a true picture of the value of the site, and feeds into the CVR.
Calculating accruals. If subcontract work has been valued but not certified, Coins ERP+ calculates an accrual figure; this can be fed into the CVR.
Handling of dayworks and variations.
See VAP Videos.