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Tracking M/WBE of subcontractors
Anyone tracking M/WBE status of subcontractors when you're only paying the Contractor? Primarily these are big construction contracts and we'd have to get the data from the Contractor.
@Michelle Wickham The conversation during the SIG call was super helpful! I'm waiting for the business to figure out their requirements and I have notes on avenues to try/suggest.
@Kelly Fabijanic - Hopefully we were able to help you maybe just a little during today's Soapbox section of the call. I think you're stuck between tracking it in Excel or having to do after the fact journal entries where you would do an in and out of the same account number but use a subledger to denote payments made to M/WBE subcontractors. If you have any more questions, please don't hesitate to reach out to the SIG here, on one of our social media pages, or you can email me at firstname.lastname@example.org. Have a great day.