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it would be good to have as an additional feature for construction companies. so we send an application for payment which is a % of a total contract value. we would then receive a payless notice which could be counter argued before a payment certificate is provided by the client with a confirmed figure for payment. once a payment certificate is received then we can create a VAT invoice but it would be helpful if we could see in xero the original application values to know what money is scheduled to come in.

Payment applications are essential for construction businesses and surprised this is not a feature on Xero could really simplify the process and save a lot of time and keep track of them more effectively

Yes this would be really beneficial. An application includes 'Cumulative application', 'Previous Application' and 'This Application' totals, so all 3 of those would need to be available when raising an application (software with project tracking pre-fill this but this could be manual entry). No VAT is accounted for until the application total is agreed and payment is made which can be in a different month to when the application was raised/work was complete which is why it is difficult for those within the construction industry to manage without supporting software.

No quotes wouldn't work for this.
It's the stage before we receive the bill from the contractor (supplier). The contractor is applying for a value (the application), but when the invoice comes through the value may change, so we don't want to process as an invoice, but would still need to be on the system to be reviewed before the invoice is received and goes through as approved.