Create a Record for a Payment Received
Objective
To create a record in the project's Payment Applications tool for a payment received from an main contract payment application.
Background
An main contract payment application is an itemized record of a financial transaction between a project owner and a company responsible for completing work. Typically, it is issued by a main contractor and submitted to a project owner to signal that payment is due for completed work. When you receive a payment from an owner, you can create a record of that payment in Procore's Payment Applications tool using the steps below.
Things to Consider
- Required User Permissions:
- 'Admin' level permissions on the project's Main Contracts tool.
Prerequisites
- The project's main contract must be in the 'Approved' or 'Complete' status. See Approve a Main Contract.
- Create the payment application that you sent to the owner. See Create an Owner Payment Application.
Steps
- Navigate to the project's Invoicing tool.
- Click the Owner tab.
- Locate the owner payment application in the list. The click to open it.
- Click Create Payment.
- Complete the following fields:
- Payment Application. Select the associated payment application from the drop-down list.
- Date. Select a date that the payment was received.
- Payment #. Enter the payment number.
- Payment Application #. Enter the payment application number for the payment, if applicable.
- Check #: Enter the check number for the payment.
- Notes. Include any additional notes to provide details about the payment.
- Amount. Enter the amount of the payment received.
- Attachments. Include any attachments related to the payment. For example, you might want to attach the check image or the payment application file.
- Click Add. The payment is listed under the 'Contract Summary Report' section in the 'Payments Received' column.
- Click Save.
Notes
- You will see a list of all payments received, which you can then export to a PDF by choosing Export > PDF.
- All payments received on the project are tracked in the Contract Summary Report in the Main Contract tool's General tab (see illustration below).