How to automate your internal limits in TradeTapp (General contractors)

As a general contractor using TradeTapp, your internal single and total project limits can be automatically calculated for a vendor once the vendor’s application is in the “Complete” status. 

To automate your internal limits

1. Please access the TradeTapp Custom Calculations worksheet at this link. Download the worksheet and follow the steps in the “Internal Single Limit Calculations” and “Internal Total Limit Calculations” tabs to complete it. 
   
   Requirements on Equations:
   
   • Please provide the following as desired (equations can be provided for both internal single and total limit or only one or the other): 
     
     • 1 or more equations to calculate a vendor's internal single limit. 
     • 1 or more equations to calculate a vendor's internal total limit.
   • Equations can include inputs from the TradeTapp Financial Input (financial statements) and monetary questions from the TradeTapp default questionnaire (submitted by the vendor). 
   • The auto-generated ‘Internal Single Limit’ result can also be used as an input for the internal total limit calculations. 
   • Custom financial inputs are not supported at this time.
     
     
2. Please forward your completed worksheet to your Customer Success Manager, TradeTapp Account Executive, or Implementation Manager to help configure your internal limit calculations in your TradeTapp account. The respective team member will handle building your equations into the system.
   

What will occur when your custom internal limits calculations are added and automatically calculated: 

1. The internal single and total limits will be calculated when financial calculations are run. Review all the different scenarios when calculations are run in When are financial calculations run?.
   
   
   • The lowest result generated from the set of internal single limit equations will be populated in as the 'Internal Single Limit' in the vendor's profile.  
   • The lowest result generated from the set of internal total limit equations will be populated in as the 'Internal Total Limit' in the vendor's profile.  
   • Users can hover over the result to see the equation that resulted in the limit value. The equations that resulted in the limits will also be recorded in the activity thread.
     
     
     
     
     
     
2. The vendor’s previous qualification status will be reset to ‘No Status’. Company Reviewers should review the auto-generated limits and then determine the vendor’s new qualification status. The auto-generated limits can be manually edited at any time. 
   
   Tip: Therefore, we suggest that if you have automatic limits set for your company, you should follow this workflow:
   • Ensure all the financial input is complete for the vendor.
   • Perform any reviews as needed and apply a qualification status at the end. This ensures that your qualification status don't get overridden by the automatic internal limit feature. 
   • Click "Complete application".
     
3. The limits will not sync to BuildingConnected until a qualification status has been set. 
   
   
4. Newly added internal limit calculations will NOT be retroactively applied to profiles that have already had financials calculated. To re-run the calculations for a profile, edit and re-save a financial statement within the vendor's profile.