Managing Accounting for Payment Estimates

You can track and manage the distribution of checks and vouchers for contractor payments on the Payment Estimate Accounting Overview. To access the overview, click the Payment Estimate Accounting link in the Construction component.

The overview lists rows of payment estimates that have been through the approval process and are ready to be paid. Each payment estimate row can be expanded to show voucher rows for the estimate. The list is filtered to show only those payment estimates associated with contracts for which you are assigned contract authority.

Each payment estimate row includes an Actions button and current values in these fields:

• Contract ID

• Payment Estimate Number

• Final Approval Decision Date

• Transfer to Accounting Date

• Accounting Received Date

• Transaction Number

• Transaction Date

You can expand a payment estimate row to display voucher rows. Each voucher row displays read-only information in these fields:

• Voucher Number

• Project ID – Description

• Pay Amount

Expand a voucher row to view or change information in these fields:

• Transfer to Accounting Date

• Accounting Received Date

• Transaction Number

• Transaction Date

Click in a field and enter or change information as needed. Any changes you make to a payment estimate are also applied to any vouchers associated with the estimate.

When you are finished, click the Save button. The system displays a message to confirm that your changes were saved.

To view additional information about a payment estimate, click the Payment Estimate Number link in the appropriate row. The system takes you to the Contract Payment Estimate Summary. See Maintaining a Contract Payment Estimate.

Transferring Estimates to Accounting

You can manually enter the date that an individual payment estimate was transferred to accounting, or you can select multiple payment estimates and enter the date for them automatically. When you set a payment estimate as transferred to accounting, all of its associated vouchers are also set as transferred to accounting.

To mark one or more payment estimates as transferred to accounting, follow these steps:

1. Navigate to the Payment Estimate Accounting Overview, and select Enter Payment Estimate Transfer to Accounting Date from the Actions menu on the component header.
   
   The system displays a modal window that lists payment estimates that have not been transferred to accounting.

2. Click a payment estimate row to select it.
   
   A check mark appears at the beginning of the row to indicate it is selected. Continue selecting rows as needed. You can click a row again to clear the selection.

3. Continue selecting payment estimate rows as needed.

4. Enter a value in the Transfer to Accounting Date field. This date will be applied to the payment estimates in all the rows you selected.

5. When you are finished, click the Add to Payment Estimate Check Accounting button.
   
   The system closes the modal window and updates the Transfer to Accounting Date field with the value you specified for the selected payment estimates and vouchers.  

Transferring Vouchers to Accounting

You can manually enter the date that an individual payment estimate voucher was transferred to accounting, or you can select multiple vouchers and enter the date for them automatically.

To mark one or more payment estimates as transferred to accounting, follow these steps:

1. Navigate to the Payment Estimate Accounting Overview, and select Enter Payment Estimate Voucher Transfer to Accounting Date from the Actions menu on the component header.
   
   The system displays a modal window that lists payment estimate vouchers that have not been transferred to accounting.

2. Click a voucher row to select it.
   
   A check mark appears at the beginning of the row to indicate it is selected. You can click a row again to clear the selection.

3. Continue selecting voucher rows as needed.
   
   As you select rows, the system updates the amount displayed in the Total Voucher Amount field to display the sum of the selected vouchers.

4. Enter a value in the Transfer to Accounting Date field. This date will be applied to the vouchers in all the rows you selected.

5. When you are finished, click the Add to Payment Estimate Voucher Check Accounting button.
   
   The system closes the modal window and updates the Transfer to Accounting Date field with the value you specified for the selected vouchers.  

Related topics:

Maintaining a Contract Payment Estimate

Maintaining Project Vouchers for a Payment Estimate