Edit the Advanced Settings on a Funding

Objective

To update advanced settings for a funding using the controls in the Funding tool's Advanced Settings tab.

Background

If you are a user with 'Admin' level permissions on the Funding tool, the steps below show you how to edit advanced settings for the project's funding. This includes choosing an accounting method for the Schedule of Values (SOV), enabling financial markup, owner progress claim settings, comments settings and payment settings. In addition to these Advanced Settings, additional configuration settings are on the tool's Configure Settings page. See Configure Settings: Funding.

Things to Consider

• Required User Permissions:
  • 'Admin' level permissions on the project's Funding tool.
• Additional Information:
  • Additional configuration settings are on the tool's Configure Settings page. See Configure Settings: Funding.

Prerequisites

• Create Fundings or (Beta) Create Fundings

Steps

1. Navigate to the project's Funding tool.
2. Locate the funding to work with. Then click its Number link. 
3. Click Advanced Settings. 

    Note

   If your browser window is not in full-screen mode, choose More > Advanced Settings.
4. Click Edit.
   
5. Under Schedule of Values Settings, set the following:
   • Accounting Method
     Select Amount Based or Unit/Qty Based. After you create one or more line items, you cannot modify this setting. See How do I set the accounting method for a contract or funding? for more information on the difference between Amount Based and Unit/Quantity based.
6. Under Financial Markup Settings, set the following:
   • Enable Financial Markups
     Place a checkmark in this box to enable financial markup on Funding Variations only. For more information, see Add Financial Markup to Funding Variations.
7. Under Owner Progress Claim Settings, set the following:
   • Enable Head Contract Progress Claim
     Place a checkmark in this box to enable head contract progress claim on the funding. 
   • Enable Completed Work Retention
     Place a checkmark in this box to enable work completed work retention on Funding Variations.
   • Enable Stored Material Retention
     Place a checkmark in this box to enable stored material retention on Funding Variations
   • Level of Detail to Display on Variations
     The level of detail that is selected here determines how variations are displayed on the 'Detail' tab of the owner progress claim. This setting affects the progress claim in view mode and print mode. See What are the different variation tier settings in Project Financials? You will always enter and edit information at the line item level of detail specified. Select one (1) of the following:
     • Funding Variation (FV)
     • Potential Variation (PV)
     • Line items in each Potential Variation (PV)
       This is the default setting.
   • Show Markup on Progress Claim PDF and CSV
     Place a checkmark in this box to show financial markup on the Detail tab's Export > PDF or Export > CSV for the head contract progress claim. For the CSV option, markup line items will be included at the bottom of the CSV file.
   • Approve Contractor Progress Claims when Funding Source Approves Funding Progress Claims
     Place a checkmark in this box so that once a funding source approves a funding progress claim, the subcontractor progress claim is also approved. This functionality will only be enabled if head contract progress claim are prefilled with progress claims. To learn how head contract progress claim are prefilled, see Create a Funding Progress Claim.
   • Show Cost Code on PDF
     Place a checkmark in this box to show cost codes on the PDF. There is no cost code column in the Configurable PDF tab, but cost codes will show in headers if grouped by cost code.
8. Under Payment Settings, set the following:
   • Enable Comments
     Place a checkmark in this box to see the Comments tab. Only users with 'Admin' level permissions on the Funding tool can leave comments.
   • Enable Payments
     Place a checkmark in this box to enable payments on the funding.
9. Click Save. 

See Also

• Configure Settings: Funding
• How do I set the accounting method for a contract or funding?
• Add Financial Markup to Funding Variations
• What are the different variation tier settings in Project Financials?
• Create a Funding Progress Claim