What is RedTeam Flex's Notification of Payment?
The Notification of Payment is an important document generated by RedTeam Flex that can be sent to vendors or subcontractors to inform them that a payment is available and any requirements that must be met in order to process and receive the payment. The document includes relevant credentials, invoice details, project information, and any lien waivers that may need to be completed.
How Does the Notification of Payment Work?
A Notification of Payment is created automatically when a payment is created for a vendor invoice. The Notification of Payment can then be sent to vendors so they are immediately aware of the payment and start working on any required items that must be met for the payment to be released.
What is included in the Notification of Payment?
The Notification of Payment includes the following items:
General information about the vendor the payment is for
The approved invoice that payment is for and how much is being paid.
A listing of the required credentials that are up to date and any that need to be renewed or need to be submitted.
Status of any lien waivers that have not been satisfied.
A customizable footer that can contain any information that is deemed pertinent to the Notification of Payment.
Benefits of the Notification of Payment
The Notification of Payment is a great way to keep vendors and subcontractors up-to-date and in the loop of any progress or changes related to payments. This document provides clear communication of payment expectations and allows vendors to quickly and accurately satisfy payment requirements.
How to access and send Notification of Payment
Steps to access Notification of Payment for all vendor payments:
Select the Vendors menu under Companies
Click on the Payments tab
Click the Tools button next to the payment you want to access the Notification of Payment
Select the Notifications option
The Notification of Payment will be displayed and any required credentials or lien waivers can be reviewed in the document. If the payment has not been committed, the Draft watermark will appear on the document. The Email button in the top right corner can be used to send the Notification of Payment to the vendors or subcontractors for review.
Steps to access the Notification of Payment for a specific vendor:
Select the Vendors menu under Companies
Select the vendor that you are going to access the payments for
Click on the Payments tab
Click the Tools button next to the payment you want to access the Notification of Payment
Select the Notifications option
The Notification of Payment will be displayed and any required credentials or lien waivers can be reviewed in the document. If the payment has not been committed, the Draft watermark will appear on the document. The Email button in the top right corner can be used to send the Notification of Payment to the vendors or subcontractors for review.
How to configure the footer of the Notification of Payment
The footer section of the Notification of Payment can be customized to contain any additional information that the vendor/subcontractor should be aware of and can contain Data fields that automatically fills in contextual details for each payment.
Steps to customize the Notification of Payment footer:
Select the Configuration menu
Click on Notification of Payment under the Accounting section
The title can be updated to a different name and the footer section can changed to include any required language or details.
Beneath the footer is a listing of the Data Fields that can be added to footer section. The Data Fields will automatically display the relevant information when the Notification of Payment is generated. The Data Field can be pasted directly into the footer and the description explains what will appear in the footer when the Notification of Payment is generated.
Click Save to complete the updates to the Notification of payment.
Frequently Asked Questions
Question: I emailed a Notification of Payment to a vendor, but when they click on the links they get a page that the document no longer exists. What happened to my Notification of Payment?
Answer: This error is usually caused by deleting the payment that was connected to the Notification of Payment. As the payment no longer exists, the Notification of Payment is deleted as well and the links in the email to no longer function.
Related Articles
To learn how to add and update credentials visit our Vendor Credentials article
For information on Lien Waivers visit our Manage Lien Law Claims and Documents article