Record a Payment for an Expense/Receipt

Document Payments against logged Expenses and Receipts for full financial transparency

BACKGROUND

ConstructionOnline's OnCost™ Purchasing is the industry's leading digital solution for tracking construction project expenses. With OnCost Purchasing, construction companies are not only provided with an intuitive platform for logging both physical and digital receipts & expenses, they are also empowered to efficiently manage project costs, streamline financial documentation, and maintain an organized audit trail for all project-related expenditures. To encourage fully-integrated financial management, ConstructionOnline™ provides companies with the option to link existing Expenses or Receipts with associated Bills and Payments so that they can ensure all financial obligations are reconciled and recorded. 

STEPS TO RECORD A PAYMENT FOR AN EXPENSE/RECEIPT 

1. Navigate to the desired Project via the Left Sidebar. 
2. Select the Financials tab and choose the Purchasing category. 
3. Click the Payments tab, and then click the green (+) Create New Payment button at the top of the Purchasing pane and select the "...for Expense/Receipt" option from the dropdown menu. 
   1. If the Project has no existing Expenses or Receipts, you will receive a notification indicating no Expenses/Receipts are available for selection.
4. Within the "Create New Payment" window, step through the following tabs to enter the new Payment's information - 
   1. Select Expense/Receipt 
      1. Using the table below, select the Expense or Receipt you wish to create a Payment for by marking the circle 🔵 next to the desired item.
         1. If working within a Project, the current Project will be selected within the "Project" field and cannot be modified. 
   2. Payment Details 
      1. Title: Give your Payment a title, or keep the automatically generated title
         1. The default title assigned combines the word "Payment" with the generated Payment Number, described below. 
      2. Payment Number: A unique identifier for the Payment automatically generated by combining two numbers—the Project ID and a sequential number based on the number of Payments previously created within the Project
         1. This field cannot be modified. 
      3. Paid To: Specify the recipient of the Payment 
         1. By default, any Contact added to the Subcontractor/Vendor field for the Expense/Receipt is automatically included, but can be removed.
         2. Contacts that populate within the "Send To" dropdown are pulled from your ConstructionOnline Company Contact List. New Contacts must be added through the Company Contacts page and cannot be added when creating a Payment.
         3. Only one Contact can be assigned to this field.
      4. Payment Method: Indicate how the Payment was or will be made (i.e. via credit card, check, cash, ACH, wire transfer, etc.)
         1. This field is unique to the Payment feature and can be customized through the gear icon ⚙️.
      5. Payment Date: Record the date in which the Payment was made or is scheduled to be made 
      6. Tags: Assign any predefined keywords or labels to the Payment 
         1. This field can be customized. 
      7. Memo: Add any additional notes or comments related to the Payment, such as other payment details, references to invoices or contracts, or any other information that provides context for the transaction
      8. Once you have filled in the Payment's details, choose the Items you wish to include on the Payment from the table by marking the checkbox ☑️  next to the desired Expense/Receipt Items
         1. The selected Expense/Receipt Items are marked by default
      9. Then, choose the Payment Amounts by selecting from one of three options  
         1. Remaining total of all lines: This default option selects all Line Items with a remaining balance 
            1. Any Line Items already marked as "Paid in Full" will be automatically deselected within this option 
         2. % of each line: This option allows you to record a payment for a percentage of each Line Item with a remaining balance 
            1. Any Line Items already marked as "Paid in Full" will be automatically deselected within this option
         3. Custom amount of each line: This option gives you total control to customize how much of the payment is applied to which Line Items
   3. Link to Estimate
      1. Link the Payment Items to your Project Estimate, if desired, by choosing the desired Estimate Category, Subcategory, and Estimate Item from the dropdown menus. 
         
         1. Items that have been successfully linked to the Estimate will be designated by a 🔗 link icon. 
         2. Linked Payment item totals will appear in the Project Estimate's Actuals column. Unlinked items will not affect the Estimate. 
   4. Attachments
      1. Upload any files, photos, or videos pertinent to the Payment
5. Once you have finalized the new Payment's details, click the blue "Create" button.
   1. Upon creation, the new Payment will be logged & the associated Expense/Receipt will be updated with Payment details. 

VIDEO WALKTHROUGH 

ADDITIONAL INFORMATION

• Payments for Expenses/Receipts can also be recorded from the Expenses & Receipts tab by right-clicking on the desired Expense or Receipt and selecting "Record Payment", or from the Expense/Receipt's Timeline.
• Subscription Level: ConstructionOnline's Purchasing module is available for companies with current ConstructionOnline subscriptions at the Team, Business, and Enterprise levels.
• Permissions: ConstructionOnline Company Users must have Purchase Orders, Bills, and Payments permissions set to "Can Create & Edit" or "Can Create, Edit & Delete" to create new Payments.
  • Purchase Orders, Bills, & Payments permissions are set and managed at the Company level. For more information on editing Company-Level permissions, visit this FAQ.
• ClientLink™/TeamLink™ Access: ClientLink and TeamLink Users do not have access to the Purchasing feature via the Project Portal.
• CO™ Mobile App: The Purchasing feature is exclusively available via browser access to ConstructionOnline. 
  • The Purchasing feature cannot be accessed through the CO Mobile App.

HAVE MORE QUESTIONS? 

• If you need additional assistance, chat with a Specialist by clicking the orange Chat icon located in the bottom left corner or visit the UDA Support Page for additional options.