New Sworn Statement Report Automates Job Payment Reporting for Illinois Contractors

October 14, 2003 Cleveland - For Immediate Release: Cleveland-based software developer Foundation Software has added a Sworn Statement Report to its FOUNDATION for Windows construction accounting software. This report is specific for contractors who perform work in the state of Illinois and provides the ability to easily produce job information as required by the state.

Fred Ode, CEO/Chairman and Founder of Foundation Software, comments on the addition of the Sworn Statement report, “Many Illinois contractors are required to provide a copy of either an Title Waiver of Lien to Date or Final Waiver of Lien with their accounts receivable invoices. These documents provide a listing of what was paid and to whom. Many contractors end up creating these documents using MicrosoftÒ Excel, outside of their accounting system. FOUNDATION for Windows enables these contractors to easily produce this report from directly within the system, simplifying the process and eliminating unnecessary paperwork.”

The Sworn Statement report lists an assortment of job information and includes the client name, original contract amount, change orders approved to date, revised contract amount, amounts billed to date and amounts left to be billed. This report ensures the project’s owner that all contractors who perform work or provide materials for a project are being paid appropriately, eliminating the potential for litigation against the owner at a later time.

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