Adjust Approved Statement of Work Payments

The ability to adjust statements of work (SOW) must be configured in your instance.

A workflow approval rule must exist for the

Statement of Work Adjust Approved Payment

Configure who can approve payment adjustments (

Company Settings

Statement of Work

SOW Configuration

Payment Configuration

You can adjust an incorrect SOW payment for milestone, fixed price, and unit payments that has already been approved. This process enables you to make sure that payments are invoiced correctly and the final total is reflected on the SOW payment and your SOW remaining budget total is updated.

Timesheets should continue to be adjusted directly on the timesheet or through a work order adjustment. There's currently no limit on how many times you can adjust a payment.

From the header, select

Statement of Work

Click

Adjust Payment

Edit the amount that you want to adjust and click

Save

Select the

Adjustment Reason

and click

Submit

The adjustment is sent to both the client and the vendor where they must review and approve the adjustment before it can go into effect. Once approved by all parties, the adjustment amount is either refunded or deducted from your

SOW Remaining Budget

and

Committed Amounts

so that you have an accurate total of how much money is left to spend on your project. An audit trail is created in a new payment table on the

Payment

page.

At this point, a new invoice transaction is also created in the

Invoice

tab, showing either a debit or credit for the adjustment. If the original payment invoice line item is still

Not Started

when the adjustment is approved, that original invoice transaction is deleted and the new adjusted transaction is created. If the original transaction was already invoiced or is the process, it remains as is, and a new transaction is created with either a debit or credit amount.

This example illustrates an instance where you would adjust an approved SOW payment.

A vendor realizes that they forgot to mark their milestone payment as taxable and you already approved the payment 2 weeks ago. You create an SOW payment adjustment and send it for review to the vendor and any program team members that need to approve it. Once approved, the taxable amount is added to the payment and an audit trail is created in a new payment table on the payment page.