The standard FACS Payment template is designed to manage contractor payments by tracking quantities, amounts, retainage, stockpiles, and adjustments over the life of a project.
Key Payment Terms & Definitions
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Change Order – Modifies project scope, time, or dollars.
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Pay Item – A unit of work with pricing details (e.g., Clearing and Grubbing).
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Material Acceptance – Approval of materials necessary to allow for payment of specific items.
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Material Stockpile – Advance payment for delivered but uninstalled materials.
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Retainage – A portion of payment withheld until milestones or project completion.
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Adjustment – Manual credit or deduction (e.g., incentives, penalties).
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To Date – Value from project start up to a specific date.
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Percent Complete – Payment progress as a percentage of the authorized amount.
- Recorded - A value entered into a document entry
- Paid - A value recommended for payment that meets all project set payment criteria
Key Fields and Sections
General
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Number (Required, Unique)
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Subject (Required)
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Pay Period Start / End Dates (Required)
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Payment Date
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Assignee, Creator
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Final Payment (Checkbox)
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Remarks
Summary (Auto-Calculated Fields)
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Amount This Period – Sum of eligible work, stockpiles, and adjustments within the pay period.
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Amount to Date – Sum of eligible work, stockpiles, and adjustments to date.
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Percent Complete This Period – Amount This Period / Projects current authorized amount.
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Percent Complete to Date – Amount To Date / Projects current authorized amount.
Retainage
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Retained This Period – Suggested based on retainage % and project cap, user-editable.
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Released This Period – Retainage returned this period (must not result in negative balance).
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Retained to Date / Released to Date – Cumulative, system-calculated fields.
NOTE: The system enforces a retainage cap if entered within the Project Settings / Payment area.
Adjustment
Use for manual financial changes not tied to specific items (e.g., incentives, disincentives or penalties).
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Adjustment Table
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Amount (Required)
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Remarks
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Related Pay Item (optional)
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Signatures
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Submitted By
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Approved By
Additional Features
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Includes standard fields: Workflow, Contributors, Comments, References
- Payments follow this workflow:
Pending → Under Review → Approved or Canceled
Approved and Canceled statuses are locked. Only a Project Administrator can revert them and only the most recent pay period may be unlocked.
Location
Documents > Payment
If you have any questions, or need additional assistance, please reach out to our support team at support@facsware.com and we will be happy to assist you.