Match Payment with Contract

Explanation

A payment on a contract can be entered in the Customer Payment and Mixed Payment windows. Only payments that are received on a contract with no invoice for the payment should be handled as described here. If an invoice already exists, it should be handled as any other payment and it does not need to be linked to a contract.

If the received payment consists of a mix of payments on standard invoices and payments on applications, the payment of standard invoices should be handled as normal, and only the payment on applications should have the contract number added.

If a down payment is received, an application should be created and valued, based on the amount of the down payment, and then matched as any other payment on a contract.

By adding the contract number when entering a payment received on a contract, the payment will always be shown on the Application for Payment/Payment tab, so that it is possible to see the total amount paid on a contract at any given time. After matching with the contract, follow the Allocate Payment on Application activity to complete the matching with the application.

Prerequisites

General prerequisites:

• The contract number must have been entered for transactions related to a contract.
• The contract must be Awarded, Under Review, Active, or Completed.
• The contract and payment must be within the same company.

Mixed Payment specific prerequisites:

• The mixed payment transaction type must be Enter Customer Payment.
• The payer/payee identity must be entered and the Completely Matched check box must not be selected in order to enter the contract number.
• If check payments are received, they must have been entered in the Mixed Payment window. 

Customer Payment specific prerequisites:

• The New Payment on Account check box must be selected and the Parked Payments check box must not be selected in order to enter the contract number.

System Effects

The full customer payment or part of the customer payment will be matched against the contract.

Window

Customer Payment
Mixed Payment

Related Window Descriptions

Customer Payment
Mixed Payment

Procedure

In the Customer Payment window,

1. Click New to create a new payment in the General tab.
2. Enter your cash account or select it from the List of Values.
3. Create a new record in the payment table below and enter the payment amount in the Pay Amount in Pay Curr field. This should be the gross payment amount for the invoice that you are planning to pay.
4. Click the Transactions tab and create a new transaction line.
5. Select the New Payment on Account check box.
6. Enter the customer ID in the Identity field or select from the List of Values.
7. Enter the payment in the Pay Amount in Pay Curr field.
8. Enter the relevant contract number in the Sales Contract No field. Use the List of Values to find valid contracts if necessary.
9. Save the information (F12).
10. Right-click on the header part of the window and click Approve.
11. In the Create Voucher dialog box that opens, click OK.
12. You will be notified of the Payment Series ID, Payment ID, Voucher Type, Accounting Year, Voucher No for the payment you created.
13. You will be able to view the payment which is connected with the contract in the Payments Matched with Contracts window.

In the Mixed Payment window,

1. Create a standard payment on the General and Transactions tabs.
2. Make sure that correct contract number is entered in the Contract Number field. Use the List of Values to find valid contracts if necessary.
3. Right-click and then click Approve to approve payment (this will then create a customer payment on account for the amount that has not been matched with any invoice).