How do I edit an initial award amount for a contract in Portfolio Financials?
Answer
To edit an award amount for a contract, you can edit the contract in the Contract Room and enter a new amount in the Total Contract Value field. See Edit a Contract in Portfolio Financials.
Important
You can only edit an initial award amount if there are no payment applications submitted against the contract.If you need to edit the initial award but payment applications have already been added, there are two options to be able to change the amount:
- Option 1: Delete existing payment applications.
Follow the steps below:- Delete all submitted payment applications. See Delete a Payment Application in Portfolio Financials.
- Edit the contract to adjust the initial award amount. See Edit a Contract in Portfolio Financials.
- After modifying the initial award, re-enter the previously added payment applications. See Add a Payment Application in Portfolio Financials.
- Option 2: Add a variation to reflect the intended amount.
For example, if your initial award was £25,000 and you want to change the amount to £20,000, you would submit a negative amount variation for £-5,000. See Add a Variation in Portfolio Financials.