What's New in TPM Explore the enhancements we added this month

August 2020

Spotlight

New Payment Reconciliation Report for Main Contractors

You can now generate a Payment Reconciliation Report to help with payment tracking. Use this report to tie out TPM transactions with your bank account. Filter based on the date the payment was disbursed from TPM, the settlement date of the transaction at your bank, the date the file was uploaded to your bank, or the date the payment was exported to your accounting system.

 

See the Payment Reconciliation Report topic for a list of output fields.

Enhancements

Main Contractors

  • Better control who manages Track Pending Payment Application Status Holds when you export a payment application with the new "Track Pending Payment Application Export" holds releasable by Enterprise organisation setting. When active, only users who are Enterprise Administrators and Project Managers on the project can release these holds from the Edit Payment Status page.
  • If you also subscribe to Aconex, you can now integrate it with the TPM application on a new tab on the Edit Primary Organisation page. When integrated, some project information will transfer between the two products. Select your host and use your Aconex credentials to verify your account. You will only see the Aconex Integration tab if you enabled Aconex integration on your Edit Primary Organisation page.
  • A new organisation setting (Disable Negative Billings on Positive WB) allows you to control if Subcontractors can submit a payment application with a negative value on a positive WB or a positive value on a negative WB. You can enable this setting to reduce integration errors if your accounting system does not support this type of payment application.
  • Choose how your organisation will apply VAT to partial payments. A new organisation setting (Partial Payment have Tax Applied) set by your Textura Organisation Administrator is used to decide if VAT should be applied After Net Payment Application or Pro Rata.

    When After Net Payment Application is selected, the net payment application balance is draw first and then the VAT. When Pro Rata is selected, the net payment application balance and VAT are draw at the same time. The VAT rate that applies to the payment application also applies to each partial payment against that payment application . After entering the payment amount on the Edit Payment Status page, the system will calculate the VAT amount on a pro rata basis.

Last Published Wednesday, August 7, 2024