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Progress payment is the payment accruing for the contractor in return of carrying out the Project in the contract.
Progress payments are made in three different methods:
- You can use Progress Payments menu option under the Related Records menu.
- You can calculate progress payments with "Calculate Progress Payment" option in F9 – right click menu of the Projects browser.
- You can calculate by accessing Progress Payments browser under the Related Records menu in Purchase and Sales Contracts browsers.
Note that you must have entered actual information of work definition in Realization Info window to calculate progress payment of a Project.
See. Realization Info
Since realization percentage does not have an equivalent in some sectors such as construction sector, progress payments are calculated over Construction Diary and BoQ.
"In Calculation of Progress Payment Production Totals: Use Actual Info / Use Quantity" parameter in System Settings > Project Management Defaults and Parameter is used to designate whether Quantity or Actual Info should be used to calculate progress payments.
Click New button in Project Management > Transactions menu > Progress Payments browser to add a new progress payment calculation.
| Used to save a new progress payment record. |
| Update | Used to edit progress payment information. |
| Delete | Used to delete progress payment records. |
| View | Used to view progress payments. You cannot make changes in slip forms if you open with View option. |
| Copy | Used to copy the selected progress payment information to another card. |
Change Status | Used to change the status of progress payment records. |
Generate Progress Payment Invoice | Unbilled progress payments that are in Approved and Paid statuses are billed with Generate Progress Payment Invoice option. You can access and view the invoices with Progress Payment Invoices option under the Attached Records menu. |
Refresh | Used to update Progress Payments browser. |
Back to Defaults | Used to return to the default window sizes. |
| Related Records |
Contract | Used to track project contracts for which progress payments will be calculated. |
Progress Payment Invoice | Opens invoices of progress payments. Service Purchase/Sales Invoices browsers opens so you can view the related invoice. See. Progress Payment Invoices |
Used to print progress payment records. |
Batch Print | Used to print progress payment records collectively. |
Progress Payment Documents | Prints progress payment cover, construction diary and BoQ information. If all options are selected in Sections to List filter, all information will be shown in the report. |
| Info |
Record Information | Displays the time and the user of the first registry and the last modification of the record. |