In VertiGIS FM Contracts, a Payment is a data object that acts as the header for an invoice associated with the contract. It tracks how much the payer pays in its various payment items (for example, the cumulative monthly rent) and stores payment data such as the payment period, payment interval, and tax information.
VertiGIS FM creates a stipulation when you create a new payment, or when a new payment is created programmatically by an index agreement adjustment or graduated rent agreement adjustment. When you print the stipulation, VertiGIS FM creates an invoice for the payment that can be sent to the payer.
Payments Section
You can see payment plans set up for a contract in the Payments section on the contract details page. Importantly,
•The Item column shows the payments for different invoices. Payments associated with the same invoice have their own whole part with a incrementing decimal number after for adjustments made to payments for the invoice (for example, for an adjustment made according to the index agreement included in the contract).
•The Invoice-no column shows the invoice associated with the payments. VertiGIS FM assigns an invoice number when you print a stipulation for the payment amount.
•The Value guaranteed column indicates how the fixed payment amount has been adjusted (i.e., Indicated [subject to a consumer or price index] or Staggered [subject to graduated rent]). A value of Yes in this column indicates that the payment contains line items with indicated values and line items with staggered values).
Payments Section on Contract Details Page
Each payment header has its own details page on which you can enter payment details and document payments. You can access a details page by double-clicking a row in the Payments section on the contract details page.
When you view a payment plan's details page, the contract associated with it appears at the top of the screen in grey text.
Payment Plan
Line Items
The Items section on a payment details page lists line items within the invoice. These indicate the specific cost associated with the Enter value and are used to create invoices.
In the example below, the payer pays $35 monthly before taxes or adjustments. These are separated into two line items: a $25 service charge with VAT, and a $10 processing fee.
Payment and Items
Add a Payment Header to a Contract
Payments are defined in the Payment section on the contract details page.
To Add a Payment to a Contract
1.Navigate to the contract details page for the contract to which you want to add a payment plan.
2.Expand the Payments section and click the Add (
) icon.
3.Enter the mandatory payment details:
▪Payment interval
▪Duty of payment: start date
▪Payment interval form
▪Payment due on
▪Kind of VAT
Refer to Payment Details for a full list of all payment properties.
4.Click Save and Close.
Payment Details
The details below are stored in the payment header form fields.
Payment Details
Property |
Description |
|---|---|
Amount |
The amount the payer has paid for this invoice. If the Calculated check box is selected, the amount is equal to the total of the amounts paid for each of its line items.
Payment and Line Item Amounts If the Calculated check box is not selected, you can enter an amount that must be paid. You must specify the share this amount for each line item added to the invoice. |
Calculated |
Whether a fixed amount must be paid on this invoice, or whether the amount paid should reflect the total of the amounts in each line item in the invoice. •If this check box is selected, the Amount field value is equal to the total of the amounts paid for each of its line items. •If this check box is not selected, you can enter an amount in the Amount field manually. You must specify the share this amount for each line item added to the invoice. |
Payment interval |
How frequently the payer must pay. |
Payment Due On |
The date of the month the payments are due. |
In Advance |
A check box that, if selected, means payments can be received before the Payment Due On day. |
Subsequently |
A check box that, if selected, means payments can be received before the Payment Due On day. |
Kind of VAT |
Whether the payment amount in the Amount field includes taxes. •Net: tax is not included. •Gross: tax is included. The tax rates applied are based on the selection in the Country field in the contract details. Refer to Country Management for more information. |
Duty of Payment: Start Date |
The date the invoice becomes valid and payments can begin. |
Duty of Payment: End Date |
The date the invoice ends and payments cease. |
Edit a Payment
You can edit the payment plan on its details page.
You may not be able to edit payment details if you have already generated an invoice with its line items.
To Edit a Payment
1.Navigate to the contract details page for contract the whose payment you want to edit.
2.Expand the Payments section and double-click the payment plan you want to edit. Alternatively, you can select the payment plan and click the View Details (
) icon.
3.Click the Edit (
) icon.
4.Edit the payment plan details as required.
5.Click Save and Close.
Delete a Payment
To delete a payment from a contract, simply select it in the Payments section on the contract details page and click the Delete (
) icon.
Deleting a Payment
You cannot delete a payment whose Item number is .01 if it has had subsequent index or graduated adjustments made to it.
Payment Items
The Items section on the payment details page lists individual invoice line items.
Items Section on Payment Details Page
Line items listed in the Items section can include one-time payments, like a cleaning fee, as well as recurring payments the payer makes monthly, like rent. You can apply index and graduated rent agreements to the payment amounts to calculate necessary increases.
Add a Line Item
You can add a line item on the payment details page for the invoice.
To Add a Line Item
1.Navigate to the payment details page for the invoice to which you want to add a line item.
2.Expand the Items section and click the Add () icon.
3.Enter the mandatory line item details. Refer to Item Details for a list of all fields in a line item.
▪Account
▪Amount
4.Click Save and Close.
After you save a line item, or when you click one in the Items section, its details are shown under Position for its associated payment.
Line Item Details
The fields in a line item are outlined below.
Property |
Description |
|---|---|
Account |
The account from which the payer is paying the funds. You can select a bank account whose information is saved in the Contact Management module. |
Cost center |
The cost center associated with the line item. |
Indicated |
Whether the payment amount increases or decreases according to a consumer or price index. Refer to Index Agreements for more information. |
Staggered |
Whether the payment amount is subject to regularly scheduled price increases, as defined in the Contract of Graduated Rent section on the contract details page. Refer to Contract of Graduated Rent for more information. |
Calculation from |
This menu is only visible if the Staggered check box is selected. |
Amount |
A field in which you can specify an amount and unit (for example, if the contract pays based on the m2 of a room or building). The value is multiplied by the value in the Individual Price field to determine the line item total in the second Amount field. For example, if the amount paid is based on work done to the floor area of a building, you can specify the area in m2 and enter the price per m2. The value in the Amount field multiplied by the amount in the Individual Price field equals the amount associated with the line item.
Amount × Individual Price |
Individual price |
The rate associated with the amount and unit specified in the Amount field. Refer to the example in the row above. The unit of measurement is the currency associated with the country selected in the Country field in the contract details. |
Fixed price |
The amount paid for the line item. You can select this check box and enter a fixed amount as an alternative to calculating an amount using the Amount and Individual Price fields.
|
Amount |
The amount paid in this line item. The value is drawn from the Amount and Individual Price fields or from the Fixed Price field, depending on whether the amount was calculated or entered manually. The unit of measurement is the currency associated with the country selected in the Country field in the contract details. |
Comment |
Additional comments regarding the line item. |
Do not select both the Staggered or Indicated check boxes. VertiGIS FM can only apply one type of adjustment to a payment item.
Edit a Line Item
You can edit a line item on an invoice's payment details page.
To Edit a Line Item
1.Navigate to the payment details page for the invoice whose line item you want to edit.
2.Select the line item you want to edit and click the Edit () icon.
3.Edit the line item details as required.
4.Click Save and Close.
Delete a Line Item
You can delete a line item on an invoice's payment details page.
To Delete a Line Item
1.Navigate to the payment details page for the invoice whose line item you want to edit.
2.Select the line item you want to delete from the invoice and click the Delete () icon.
3.Click OK.
Due Dates
The Due Dates section on the contract details page lists the due dates associated with payments. In the example below, the payer pays $35 on the 1st day of each month for each month of 2024. The image is shown in August 2024, with four payments remaining for the remainder of the year (September 1, October 1, November 1, and December 1).
Due Dates Section
