Report or Confirm Payment
Electronic Payment Reporting and Tracking:
This enables you to track all subcontracts, related payments and receipt verifications. Tracking documentation and reporting enables monitoring the actual minority contract participation in project. This also supports 49 CFR Part 26 guidelines for prompt payment and documentation.
Contract – Payment
What: Monetary payments are normally required as means of compensation for contract performance. The contract owner usually pays the contractor for completing work and/or providing goods according to the terms defined in the contract.
Why: It is required for documenting, tracking and reporting actions and events during the life of the contract. This also supports 49 CFR Part 26 guidelines for prompt payment and documentation.
When: If the contract has participation goals for which compliance must be tracked and reported.
How: Populate and Upload Contract Payment data
b. Click “Manage Account” on the Main Menu
c. Click on the submenu item “Manage Project”
d. Select the Project that houses the intended Contract
e. Select “Contracts” from the top right (Menu)
f. Click on the “Get Payment Report Sheet” button on the lower right pane
i. This will download an excel sheet template
ii. Populate the sheet with the payment data
iii. Save the sheet on your computer
v. Select Manage Account (Menu)
vi. Select Manage Contract Payment (Menu)
vii. Select “Upload Contract Payment” Menu
viii. Select from “Sheet Type” ePrismSoft Format from drop-down Menu
ix. Select from “Select Project” the project that houses the contract
x. Select from “Select Upload File” the Populated excel payment (see step b.)
xi. Upload file.
