A payment stream can be added to a Contract Profile to record income received in accordance with a contract's terms (sell side) or to track the periodic payments made to fulfill a contract's terms (buy side). The forecasting option in the Payments feature provides system-generated calculations to project income/payments over time, including any incremental increases or decreases.
A payment stream must include at least one payment record in order to be saved.
1. Open the Contract Profile that needs the payment stream.
2. Click the Payments link in the Links section of the screen.
3. In the Payments screen, click Add Stream in the toolbar.
4. When the screen refreshes, enter a name for the payment stream in the Stream Name field.
5. Make a selection in the Stream Type list.
- Select Outgoing to track payments made by your company.
- Select Incoming to track payments due to your company.
6. Click Add Payment in the toolbar.
7. When a blank payment record displays, click inside each field and provide the requested information.
- Click for a date field and use the calendar to enter the date.
8. (Optional) Remove the fields that you do not want to populate, keeping in mind the Created By and Created On fields are automatically populated by Conga Contracts (formerly Novatus):
- Hover over any column heading until the icon displays, and click on it to open the Sort/Column menu.
- Click Columns to display a list of available fields, and remove the fields you do not want to populate by clearing the check box to the left of the field.
9. Click Save.