Use the Prog Pay Events tab to assign progress payment events to the agreement.
On COs, data can only be modified if the payment type of the agreement is not 'Milestone
Progress'.
Enter the order sequence for the event in the Seq field. Select the name (code) of the progress payment event from the LOV in the Prog Pay Event field. You can double-click in this field to open the P.10.31 Progress Payment Events screen where the events are defined. The payment event descriptions appear in the Short Desc and Description fields.
The date when the event/milestone is planned to be completed can be selected from the LOV in the Planned Completion Date field.
In the PP (payment percentage) field, enter the percentage of payment required by the number of weeks specified in the PW field. The sum of all payment percentages must add up to 100%.
The cost value assigned to this event is calculated automatically as Total Material Cost x (PP/100) and displayed in the Cost Value field. And vice versa, if you enter a value in the Cost Value field, the percentage is calculated automatically and displayed in the PP field.
In the PW (payment weeks) field, enter the number of weeks between this event and the previous event. This field can only be changed if the agreement has not been approved.
In the Pred Pay Date field, you can use the LOV to select the date on which the progress payment event is expected or predicted to occur. This date is calculated and filled in automatically when you approve the agreement. The date is calculated based on the planned completion date.
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If the planned completion date is not set:
The predicted pay date of the first progress payment event is calculated as (system date + PW * 7). The date of all following events is calculated as (Pred Pay Date of previous event + PW * 7).
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If the planned completion date is set:
The predicted pay date of the first progress payment event is calculated as (planned completion date + PW * 7). The date of all following events is calculated as (predicted pay date of the previous event + PW * 7) or (planned completion date + PW * 7) if the planned completion date is set for these events.
When you set this date manually, the Manual indicator is enabled. This indicator can only be updated when the Pred Pay Date field is filled. Date fields for which the Manual indicator is selected are not modified when any automatic calculation is performed.
If you reverse the approval of an agreement, the predicted payment date is cleared if the Manual indicator is not selected.
The predicted payment date can be updated at any time regardless of whether the agreement
has already been approved or not.
Select the Locked check box to lock this progress payment event. This event cannot be updated any longer. To unlock the event, clear the Locked check box.
The locked events are not considered in the calculation of the Total Cost of Disposal, PP, and Residual PP values.
The Delivery indicator shows whether this payment event has been reached when the material has been received on site. This indicator can only be changed as long as the agreement is not approved.
At the bottom of the tab, the Total Material Cost field shows the total cost of the agreement. This value is the same value shown in the Total Cost field on the Total Costs tab.
The Total Cost of Dispose field shows the disposable cost, which is the total cost minus the cost value of locked payment events.
The Residual PP field shows the remaining payment percentage that can be spread over the payment events of the agreement. The corresponding remaining costs appear in the Residual Cost field. If the payment percentages of all events add up to a value greater than 100, the Residual PP and Residual Cost fields show negative values with a red background color. The currency of the costs appears in the Currency field.
You can click the Complete 100% button to make the payment percentages of the events add up to 100%. If you click this button, the remaining percentage displayed in the Residual PP field is added to the last progress payment event.
To populate an agreement with multiple progress payment events in one step, you can use progress payment event sets pre-defined on the P.10.32 Progress Payment Sets screen. Select a set from the LOV in the Prog Pay Set field at the bottom of this tab, and click the Copy button. All events assigned to the selected set are copied to this agreement. You can double-click in this field to open the P.10.32 screen.
The Prog Pay Set field and the Copy button are only available if the agreement is not approved.
You can click the Calculate button to recalculate the predicted payment dates after you have manually modified one or more predicted dates. This recalculation only modifies dates that have not been set manually. That is, only those dates for which the Manual indicator is not set are updated.
This button is only enabled for approved agreements.