Managing Disbursements
Use the Oracle Textura Payment Management system (TPM) to disburse funds to Subcontractors and Sub-Tiers in payment for work performed on a project. Electronic funds disbursement on the system simplifies and expedites the period payment process.
Note: Funds may also be disbursed by a Title Company or alternate organisation to all participants in the period.
Typical Disbursement
All period participants whose status is Requested to be Paid are paid in one disbursement. Funds are transferred to project participants electronically.
To make a disbursement:
- All unconditional VAT Invoices must be signed.
- If the owner is on-system, the owner must approve the period.
Note: An Authoriser must approve disbursement if the project uses the Require Disbursement Authorisation for Subcontractor Payments project setting.
Authorise Subcontractor Payments
See Authorise Payments.
- The Authoriser reviews the payment status for participants on the Authorise Payment page.
- The Authoriser selects payments to disburse.
- If all the payments are correct, choose Save & Send to Disburser button.
Disburse Project Funds
- The Disburser reviews the payment status for participants on the Manage Period Payments page.
Note: Participants whose payment status is Held are not eligible to be paid.
- If all the payments are correct:
- Enter PIN
- Choose Disburse Selected button.
A Status page confirms the funds are queued for BACS payment.
Verify Payments
Verify payment amounts and disbursement status on the Manage Period Payments page.
Payment Receipts
When payment has been disbursed, Subcontractors receive an email notification and an action to view their Payment Receipt.
The Payment Receipt confirms that BACS payment has been transmitted. It includes:
- Date processed
- Amount approved
- Any applicable fees.
Collect VAT Invoices
VAT Invoice signatures are released to Main Contractors three days after disbursement. After they are released, signatures display on documents on the system.
See the Manage VAT Invoices for Main Contractors page for the release date.
Other Disbursement Actions
- Create split payments and joint cheques
See Split Payments and Joint Cheques. - Create partial payments.
See Creating Partial Payments - Initiate enterprise-wide disbursement
See Disburse Enterprise Wide Funds. - Configure discounted payments
- See Applying Contract Discount Terms
- Set up Owner funding
See Client Funding List.
Last Published Wednesday, July 10, 2024