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Create a Record for a Payment Received

Objective

To create a record in the project's Invoicing tool for a payment received from an owner invoice.

Background

An owner invoice is an itemized record of a financial transaction between a project owner and a company responsible for completing work. Typically, it is issued by a general contractor and submitted to a project owner to signal that payment is due for completed work. When you receive a payment from an owner,  you can create a record of that payment in Procore's Invoicing tool using the steps below. 

Things to Consider

  • Required User Permissions:
    • 'Admin' level permissions on the project's Prime Contracts tool.
       Notes
      • User permissions are NOT managed in the project's Invoicing tool. Instead, the Invoicing tool is designed for users with 'Admin' level permissions on the Prime Contracts and/or Commitments tool. 
      • If you are a collaborator (for example, an invoice contact for a subcontracting company that is performing work for a general contractor managing your contract in Procore), your ability to perform invoice-related tasks is determined by the project team that controls these settings for your Procore user account: 
        • Your user account's permissions on the project's Commitments and/or Prime Contracts tool.
        • Your membership on the 'Private' list of a specific prime contract, purchase order, or subcontract.
        • Your designation as an 'Invoice Contact' on a prime contract, purchase order, or commitment.
      • To learn more about permissions for specific tasks that can be performed with the Invoicing tool, see Permissions: Invoicing.

Prerequisites

Steps

  1. Navigate to the project's Invoicing tool.
  2. Click the Owner tab.
  3. Locate the prime contract. Then click View.
  4. Click Create Payment.
    create-payment-received.png
  5. Complete the following fields:
    • Invoice. Select the associated invoice from the drop-down list.
    • Date. Select a date that the payment was received. 
    • Payment #. Enter the payment number.
    • Invoice #. Enter the invoice number for the payment, if applicable. 
    • Check #: Enter the check number for the payment.
    • Notes. Include any additional notes to provide details about the payment.
    • Amount. Enter the amount of the payment received. 
    • Attachments. Include any attachments related to the payment. For example, you might want to attach the check image or the invoice file. 
  6. Click Add. The payment is listed under the 'Contract Summary Report' section in the 'Payments Received' column. 
    paymentsreceived2.png
  7. Click Save.
     Notes
    • You will see a list of all payments received, which you can then export to a PDF by choosing Export > PDF
    • All payments received on the project are tracked in the Contract Summary Report in the Prime Contract tool's General tab (see illustration below).

 

If you would like to learn more about Procore’s invoice management software and how it can help your business, please visit our construction invoice management software product page here.