100% agree with this, depending on the change order, the payment terms should be different, you can't show some reports because the reports follow the main project payment terms.

I'd like to add on to this one as well. Separate payment terms for each change order in addition to the terms for the main project. We ran into a situation where the main project has a fixed payment in it that we add in to collect taxes up front. Let's say that the fixed payment is $8,000 on the main project. If we do a change order for $100 for some reason, the client will get a $7,900 credit as one of the payments.

I know that we can just change the payment terms before the CO is printed. Payment terms are also stored with the revisions, so we can go and see the original agreed upon payment terms if needed.

Seth here is a little more feedback around the CO reporting capabilities we have been talking about.

Can you please clarify the last part of your comment? Approved and unapproved payment terms...

Are you asking for unique payment terms for change orders? Should they be selectable on each change order? Small change order is maybe 100% due up front, a larger CO is maybe some unique terms, and a very large CO might follow the same terms as the original contract...