After negotiating with a stakeholder, you can then define a payment plan to honor the agreement you reached with them.
The payment plan can be a single payment or several instalments.
Create a Payment Plan for Your Land Agreement
- Navigate to Agreements in Land access.
- Open the land agreement to which you want to add a payment plan.
- In the left hand record menu, select Payments under Payments.
- Click the inline + Add button or the + Add button in the information page
- Fill in the payment plan information in the Add-Payments window.
- Stakeholder: Selection list that includes stakeholders linked to this agreement.
- Stage: The project stage at which the payment(s) will be made.
- Category: List of payment categories.
- Start date: Planned date of the first payment instalment.
- End date: Planned date of the last payment instalment.
- Frequency: This field defines the payment plan. The payments can either be a single payment or several instalments of which you can select the instalment frequency here.
- Amount: Represents the amount to be paid either in a single payment or for each instalment. This value is not the total amount paid for all instalments.
- Responsible person: This is the staff member responsible for the execution of the payment or its authorization.
- Account number: This is the stakeholder bank account to be used for the payment(s). Only a single account can be used per payment. If a payment needs to be made to multiple accounts, a new payment record must be created for each specific stakeholder and their bank account. This field is automatically populated if the selected stakeholder has their bank account details added to their record.
- Click the Save button.
After saving, the instalments section will automatically populate and you can view the list to validate your payment plan or manage instalments to confirm, modify, or cancel them.