This window allows you to create a New Payment Stage and or Edit an existing Payment Stage. The below table will give a brief explanation on how it works.
|Stage Name||This is the Payment Stage Name.|
|Description||This is the Description and or Reason for the Payment Stage Claim. (The client and or bank will need to justify this for the Claim Amount).|
|% Claimed||This is the Claim Amount Percent % of the Contract Total for this Payment Stage Claim. All the percent (%) claimed amounts should total 100%. In the final payment stage a residual percent balance button will appear with (% = ?) this button will automatically calculate the % claim residual from adding together all previous stage claim amount percentages to balance a final completion of 100%.|
|Claim Amount||This is the amount to be claimed in this payment stage (Inc. GST). You can either enter a percentage into the % Claimed field or you can enter a dollar amount for the Claim Amount and it will auto calculate the Percent % it is of the Contract Total.|
|Withhold Deposit Received||Selecting this option allows you to withhold the deposit received from being added into the total Received amount. This is commonly used in Lump Sum and Cost Plus claim methods to help stay cash flow positve until the final payment stage in which you would then apply the received deposit amount back into the received total to calculate the final balance owing.|
|Notes||This field is for entering Payment Stage Notes and or reminders regarding this Payment Stage. These notes do not print out and are job specific only.|
|Progress Payment Stages||Make sure you enter 0% Claimed into all the Progress Payment Stages that are not being used. This will make the Payment Stage N/A (Not Applicable) in the Progress Payments. You can then click the green arrows to move them up or down to get them out of the way if needed. Marking them as N/A will remove them from the Progress Payments print view.
Alternatively, you can Delete them.