Create a CPI Payment Adjustment Option

Requirement: Superuser or LA - Land Management - Administrator profiles.

Consumer Price Index (CPI) is a widely recognized and accepted economic indicator for calculating the variation between multiple installments in land agreements is a common practice to account for changes in the cost of living and inflation over time.

Agreements with payments that require multiple instalments spanning several months, years or decades, can now use a pre-configured CPI to maintain the stability of financial arrangements when processing payments.

After configuring a CPI value, it can then be used when effecting a payment to a stakeholder.

Create a CPI Value

  1. Navigate to CPI management in Land Access.
  2. Click the +Create button in the upper left corner of the list page.
  3. Specify information in the Create CPI management form.
    • Description: This represents the title use to identify this CPI value in the system.
    • Date: This represents the date from which this CPI value should be used in the system.
    • Region: This represents the region this CPI value should cover. Additional entries can be created in the Region dictionary.
    • Value: This is the value of the CPI which will be used to adjust payment values. For example, the Autralian Bureau of Statistics assessed a CPI value of 136.1 for Australia in Q4 2023.
  4. Click the Save button.
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