Progress Payment Record

Deductions Info

It automatically lists deduction information that is defined in the Contract and is included in the progress payment.

Description

It is the description of the progress payment record.

%

When deduction type is rate, the rate that is designated in the Contract is shown in this field.

Affects Production Amount

This box is checked if contract deduction will affect production amount. Contract information is transferred to the Progress Payment form automatically after selecting the contract. However, it can be changed.

VAT Included

This option designates if deductions are VAT inclusive.

If VAT Included box is checked, deduction amounts of Rate type are calculated as shown below:

Deduction Amount: Progress Payment Production Amount x (1+VAT %) x Deduction Rate

The total is VAT inclusive for deductions which are designated as "VAT Included" and are assigned "Amount" type.

Total

When deduction type is Rate, total is calculated by multiplying the Progress Payment Production Amount and the rate given in % field. When deduction type is Amount, amount is shown in this field. Total field can be edited.

Previous Total

It is the total amount of progress payments carried forward from the previous periods and progress payments that are calculated on the same day.

Cumulative Total

It is the cumulative total of the previous total and current total amount.

General Total Information

It shows the total of progress payments, previous totals and cumulative totals calculated in the related period.

Progress Payment Production Amount

You can enter data in this field if only progress payment type is Subcontractor.
You can enter the total for which progress payment will be calculated. If progress payment type is Project, no data is entered. Progress payment that is calculated for the relevant period is shown in this field automatically. Deductions are calculated over this amount. If a progress payment production amount is calculated previously, it is shown in Previous Total column. In Cumulative Total column, the total of previous progress payments and the current period's total values is shown.
When "In Calculation of Progress Payment Production Totals" parameter is set to "User Quantity Info", Progress Payment Production Amount that is used in calculation of contract deductions is the total of Current Progress Payment Production Amount calculated under Progress Payment Summary tab.

Deductions to Be Applied

If "Affects Production Amount" option is checked, the total of contract deductions reflects to this field. This field shows VAT exclusive totals of the deductions affecting the production amount. If Included field is checked, VAT exclusive deduction amount is added to the total field.

Amount to Be Billed

It is the difference between Progress Payment Production Amount and Deductions to Be Applied.

VAT

It is the multiplication of the VAT rate in Total field and Progress Payment Invoice Total. In Previous Total column, it shows VAT total of previous progress payment calculations. Cumulative Total column shows the total of VAT Total and Previous VAT total.

Payments

It is the total of VAT field value and Progress Payment Invoice Total. Previous Totals column shows the total of payments in previous progress payment calculations. Cumulative Total column shows the total of current payments total and the previous totals for payments.

Other Deductions

It is the total of all lines in Deductions Info field. Previous Totals column shows the total of deductions in previous progress payment calculations. Cumulative Total column gives the total of total deductions and previous deductions total.

General Total

General total is the difference between the Payments and Deductions. It is shown in Total column. Previous Total column shows the general totals of the previous progress payment calculations. Cumulative Total column shows the total of general total and previous total.