Payment Applications

Overview 

In Coreloops, you can track and manage your payment applications by completing your applications in the platform directly or importing them as Excel Files. By linking your schedule of works to cost codes, each payment application will update your applied/certified value and budget in your cost report. You can learn more about setting up your project and linking your BOQ to cost codes here. 

Creating a payment application 

To create a payment application, click on the navigation menu and select payment applications.

Starting a Payment Application

Click on "Add" in the right hand corner of the applications table to create a new payment application 

A new application will be created with all of the items that have been added into your Bill of Quantities at that point. You can then go the items that need to be valued. 

Configure a Payment Application

In the summary page, you can update the payment application settings in the information tab of the sidebar.

Here you can update:

• The Application Number: The number for this application. These are auto-generated to follow a single digit sequence e.g. 1,2,3 etc
• Valuation Date: The date for this application. This is very important as it determines the month that this application will show up in your reports.
• Certified Date: The date this application was marked as certified. This is updated automatically when the application's status is marked as certified.
• Publish: You can publish the most recent edits in this payment application to yoru reports by clicking on publish.

Completing the application

When you click on a line item a side bar will open up with detailed information, history and comments.


In the information tab you can see the following metrics for that line item:

• Applied: The cumulative amount that you've applied for to date in this payment application
• Certified: The cumulative amount you've had certified up until this date in this payment application
• Previously Applied: What you applied for in your last payment application
• Period Applied: The additional progress % you've applied for in this payment application. Essentially Applied - Prev Applied
• Period Certified: The additional progress % you've had Period Certified: The additional progress % you've had certified in this payment application. Essentially Certified - Prev Certified.
• Previously certfied: What you had certified in your last certified payment application

For each line item, you can then enter the amount you'd like to apply for this payment application by clicking Apply and then entering the % amount. You can toggle between entering the %, cash or quantity for each item. The % and amount will be calculated automatically.  

Note: The payment application will autosave each time you make an update in the application so that you don't lose your progress. 

Once you've applied for all items in this application, you can then review them by clicking into the valued tab. This shows a summary of the line items that have been applied specifically in this payment application.

Certifying the application

Once you've entered the applied amount for a line item, you can enter a certified figure by clicking certify.

Note: You can use the import flow to certify all line items at once if your client has certified your application in an Excel sheet. You can learn more about that here.

Update payment application status  

To update the payment application status click on the status button at the bottom of the payment application table. This will update the status at the top of the table and in the payment application view

You can always come back and edit an application before it is approved. Once it is approved it can no longer be edited. When an application is approved, teh cost report is automatically updated and line items linked to the respective 

Application Summary

You can navigate to the summary page to see an overview of the application. This is essentially your front sheet for the application. Here you can also configure settings specifically for this application.

In the overview you'll see a summary of the following mertics

You'll also see an overview of how much has been applied and certified in each section.