Adding payments and distributions

This article describes the default behaviour of a highly configurable system. Your version of Versaic may appear or behave differently depending on user permissions and custom configurations.

Payments are added to proposals according to your internal process. You can create payments and break them down into one or more distributions, which are allocated to budgets. Payments can be managed through various statuses, including Draft, Preapproved, Scheduled, Processing, and Paid. Other custom statuses are also available. 

There is no limit to the number of payments created within a proposal or the number of distributions within a payment. The total amount of all payments mustn't exceed the recommended or approved amount. 

Permissions

There are five permissions for managing Payments:

  • View Payment Details: Users with this permission can view Payment Details.
  • Create/Edit/Delete Payments: Users with this permission can create, edit or delete payments at any time.
  • Change Payment Status – Processing: Users with this permission can change the status of a payment from Scheduled to Processing.
  • Change Payment Status – Paid: Users with this permission can change the status of a payment from Processing to Paid.
  • Void Payments: Users with this permission can Void a payment. 

Payment and distribution templates

Payment and distribution templates are configured to simplify and streamline the payment process and are available based on the proposal mailbox. They provide default fields to users and control which budgets can be used.

Creating a payment

Typically, a single payment is created for each proposal. You might create multiple payments if they have different due dates, as may be the case in a multi-year granting agreement.

Grant Benefits

A benefit is a gift worth more than a few dollars, such as event tickets, meals, clothing, or marketing opportunities, received in exchange for a grant. You can declare if you are receiving a benefit in the Grant Benefits section of the payment form.

If you choose No, I declare that I am not receiving a benefit, the platform will determine if the payment is tax-eligible and direct it to the correct foundation partner. E.g. If a grant is made in USD to a US cause and you choose 'No, I have not received a benefit', the funds are routed through AOGF. If the grant is to an Australian cause, the funds are routed through UKOGF.

If you select Yes, I am receiving a benefit, it is routed through Global Online Giving Organization, Inc (GOGO). If you are unable to select this option, contact your Client Success Manager to enable GOGO.

To create a payment for a proposal: 

  1. Find and open the proposal you want to add a payment to. 
  2. Select the Payments tab located under the proposal details.
  3. Select Create Payment. The payment form opens in a new tab. 
  4. Choose a Payment method. If you have enabled Benevity as a payment method, you can select this method or send via your internal AP (Manual).

Benevity

Payment details: 

  • Grant benefits: Declare if there are benefits associated with this grant.
  • Payment type: customized options for the type of payment. 
  • Due date: the date the payment is due. 
  • Description: additional context for the payment.

Internal Accounts Payable (Manual) 

Grant Benefits cannot be identified for payments through Accounts Payable.

Creating a distribution

At least one distribution must be created for a payment.

To create a distribution with a known budget: 

  1. Select Create distribution at the bottom of the payment form.
  2. Filter and choose a distribution template and Select
  3. Enter or review distribution details. Some details are copied from the template: 
    • Amount
    • Company Code
    • Cost Center
    • GL Account

Typically, only a single distribution is created for each payment, however, multiple distributions are created to split amounts across multiple budgets or budget codes. Select Create distribution to add another entry.  

Draft amounts 

If you are not ready to create a detailed distribution, you can add a draft amount.

To add a draft amount without a known budget: 

  1. Select Set Draft amount at the bottom of the form. 
  2. Enter an amount.

The draft amount is now added to the payment. When you are ready to proceed with the drafted payment, select Allocate to Budget to choose a distribution template and budget. 

Finalizing the payment

When all payment and distribution details are confirmed, select Create Payment to add them to the proposal.

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