Buyout Commitments are official documents that guarantee work or material, and/or authorize labor, purchases, and outline terms and agreements for work or material items. Commitments are issued to Vendors when purchasing material or labor for a job, and can be created under the Project's Buyout tab. To view and/or close commitments for a particular Vendor, you can navigate to the Vendors Menu and check the Commitments tab, or you can go to a specific project's Buyout tab.
1. View Commitment(s) By Vendor
If you do not know in which Project a Commitment Form was added, you can search for it under the Commitments tab of the Vendor. You can use the filter to get more accurate results.
Note: If the "Close Non Zero" setting is not active within a commitment's configuration, the commitment must be fully invoiced and have no open unbilled amount before it can be closed.
To view a list of Buyout Commitments for a Vendor follow the steps below:
Steps:
Navigate to the Vendors portion of the Companies Menu and select the name of the vendor you wish to view.
Select the Commitments tab to see that vendor's open commitments. To view a printable list, click View and select Commitments.
2. Close Commitments by Vendor
The Commitments tab is the easiest and fastest way to close multiple Buyout Commitments associated with a single Vendor. Use the checkboxes to select one or more Commitments from the list. The Close Commitments button will appear when a Commitment is selected. Once closed, the Commitment is removed from the list.
Steps:
Go to the Companies menu, select the Vendors tab, and click on the name of the Vendor you wish to view.
Click on the Commitments tab for that Vendor and click the check boxes to select the Vendor Commitment(s) you wish to close. Then click Close Commitment.
3. Close Commitments in a Project
A Buyout commitment, such as a purchase order or subcontract, can be closed when it has been fully completed or there is otherwise no more need to directly interact with it. A closed commitment will be hidden from the default filtering and cannot be further invoiced or changed. A vendor's Buyout Commitment can be closed directly from the Buyout tab of a project.
Steps:
Go to the Buyout tab of the Project.
Find the executed Commitment, click the Toolbox, then click Change Status and choose Close.
