Payment Actions

Contract items are linked to the Valuemation 'Payment Schedule' objects, payment schedules are then used to generate payments relevant for individual contract items. Payments for the whole contract are created by generating payments for all its contract items.

• Action 'Percentage Change in Regular Payment Price' can be used to modify the price of a contract item.
• Contract item price together with payments timing is specified in the payment schedule. Action 'Upload payments' uses this information and generates a list of payments to be paid for the contract item.
• If payment conditions change, payments already generated by the 'Upload payments' action may no longer be applicable. Such payments can be deleted by the 'Delete payments' action.

Payments in Contract Management

Payments and payment schedules are Valuemation functionality shared by multiple business manager modules. In the context of contract management, their use is the following:

• When a product with a specified price (Net Unit Price) is linked to a contract item, a regular payment schedule is automatically generated. This payment schedule consists of one payment, it represents a one-time payment.

If the intention is to pay in installments, then the payment schedule attributes need to be changed:

• 'Period' (on the 'Master' tab of the 'Payment Schedule' editor) specifies payments period in months. E.g. period=0 corresponds to one-time payment , period=2 means one payment every two months.
• After the period is specified, the 'Number of Payments' attribute is enabled so that it is possible to specify the number of payment installments.
• After this, 'End payment date' and 'Net Payment per Unit' get calculated.

With the above attributes, the new payment schedule is specified. Now it is necessary to use action 'Upload Payments' to generate a set of new payments for the contract item.

In the 'Payments' reference catalog of contract item editor it is also possible to assign payment statuses. Note that payment statuses must follow a defined status diagram.

Payment statuses can be administered directly from the contract item editor.