Confirm Payment Matching
Explanation
Use this activity to confirm a payment, once the payment
has been matched with the application. Confirming the payment on the application will lock the matching
between the payment and the application, indicating that the application has
been paid. Depending on the payment, the
status of the application will be set to Partially Paid or Fully Paid.
Prerequisites
- The value in the Paid Amount field, for the payment on the application to be confirmed must be
higher than 0 (zero).
- The payment on the application must not have been confirmed.
- The paid amount must have been fully allocated on the item level. See the Allocate Payment
on Application Line Items activity
for details.
- The payment must not have been rolled back.
System Effects
- If the amount paid matches the amount due on the
application, the amount due for each item (sum of certified work value and
certified stored material paid to date on this item) is copied to the paid
amount on each item automatically. See the Allocate Payment
on Application Line Items activity for details.
- If the amount paid is less than the amount due on the
application, the amount due for each item (sum of certified work value and
certified stored material paid to date on this item) is copied to the paid
amount automatically. Since the amount paid is less than the paid amount, it will not be possible to allocate full amounts on each item. If the
total paid amount of the application is not fully allocated on the item level,
the system will automatically allocate it on the item level. See the Allocate Payment
on Application Line Items activity for details.
- Statuses on all the applications that have been confirmed as paid are changed to
Partially Paid if the application remaining amount is higher than 0 (zero) and Fully Paid
if the remaining amount is 0 (zero) for that application.
- Payment allocation on the application will be confirmed.
- The taxes in the items will be used to calculate the allocated net
amount on each item. This net amount, tax percentage and calculated tax
amount will be included in the invoice when the invoice is created.
- An invoice will be created.
Window
Match Payment with
Application
Related Window Descriptions
Match Payment with
Application
Procedure
- Open the
Match Payment with Application window and
query for the contract number.
- Select the application that should be confirmed,
right-click, and then click Confirm Payment.
- Click OK to create the invoice and match it with the payment.