For developers. The GMP overrun reaches the equity waterfall before it reaches you.
You carry the contingency, the lender reads the anticipated final cost, and the contractor writes the only report. This is the second ledger, written from your documents.
The screen developers open first, as it renders in the product. Fictional project.
Where the numbers come from today.
A developer signs the GMP amendment with a capital stack already built around it. The construction loan is sized to it. The equity is sized to the gap. When the anticipated final cost moves above the GMP, the movement comes out of the equity first, which is why the lender's draw request asks for the anticipated final cost every month and why the figure has to be yours.
Today the figure usually comes from the contractor's cost report, retyped into a spreadsheet by the development manager, and reconciled against the pay application by hand. The lender gets a number. Nobody can say with confidence which register it came from.
The anticipated final cost trend, read from stored snapshots. The line the lender asks about.
Four things that change for developers.
Anticipated final cost from your own registers
Start at the GMP. Add approved owner changes, owner contingency draws, the weighted value of open items and booked allowance overruns. Subtract projected unused funds. Every step traces to a register you keep, and a stored snapshot on the first of each month means the trend the lender sees is history, not a recomputation.
A savings pool you can model before closeout
Multifamily and mixed use buyout happens over eighteen months. The tracker shows the pool package by package, and the shared savings module applies your split, cap and carve outs as you signed them. The sensitivity table says what the unclassified changes would do to it either way.
Guest access for the lender and the investor
Access is a grant, not ownership. Give the lender the one pager and the summary scope. Give the equity partner the same. Keep the cause classification and the audit table to your side. Revoke the grant at payoff.
A cause on every change, because you pay for owner scope
A unit layout revision is owner scope and adds to the GMP. A duct conflict is a design gap or a coordination item and should not. The register records the cause, who set it, and the notice deadline in days, so the argument at closeout has a record behind it.
Questions developers ask
Does the lender need a login?
Only if you want them to read the product directly. Most developers send the generated PDF with the draw request and grant read only access to the one pager when the lender asks for it.
Can I run several projects under one account?
Yes. Each project is its own ledger with its own baseline and its own report. The Portfolio plan adds the view across projects and a discount from four projects up.
Does it track the development budget?
No. Land, soft costs and financing stay in your budget tool. This covers the GMP line and what moves inside it, which is the figure the lender is asking about.
See the ledger the way developers use it.
Thirty minutes on a call. A fictional project at your GMP size and your contract form, walked from your side of the table.