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.
- 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.
- 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.
- 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.