About Payments
Payments (formerly Ledger) is designed to streamline utility payment management within FLEX Programs. See below for guidelines on how Payments works:
Payment Types
Each payment is either of one of two types: “Upfront” or “Tracking”. Tracking payments are performance based payments that are made throughout the project’s tracking period based on the measured value delivered from the intervention. Upfront payments are initial payments made as a project first moves into tracking. These payments are based on a percentage of the project’s estimated value. The details of each type are defined below.
Upfront Payments
About
Upfront payments can be incorporated into the payment rules defined for a given program to provide aggregators/contractors with immediate payment for the installation of projects. These payments are optional, based on a percentage of the total project forecasted value. The specific percentage is configurable.
Timing
Upfront payments appear in the Payments section of the app within 24 hours of a project being moved into the Tracking status. This provides program administrators with the ability to review and approve these payments on an immediate basis, separate from the Tracking payment schedule cadence.
Reviewing
Upfront payments appear within the payment table, which can be isolated by selecting ‘Upfront’ for the ‘Type’ filter. The table shows the total payment value and the current status. By clicking on 'View' for a specific payment, users can see the details and project information associated with that payment value, as well as ‘Download Invoice’ for additional fields associated with that specific payment.
Tracking Payments
About
Tracking payments are incentive values based on ongoing measured performance. These values are calculated using Recurve’s OpenDSM and vary depending on program-specific configurations such as incentive multipliers, assigned savings methodology, reservation caps, ACC version, etc.
Timing
Tracking payments correspond with the most recent Measurement calculations. All underlying data and results shown in the Measurement dashboard also populate Payments, ensuring consistency between the two views. Payment statuses are driven by the configured timing defined in the program's payment rules. When a payment cycle is reached, Tracking payments will automatically be marked as ‘Ready for Review’. In between each cycle, payments may be marked as ‘Draft’ to reflect the estimated accrued value to date. Draft payments can also support ad-hoc payment scenarios if needed.
Reviewing
Tracking payments appear within the payment table, which can be isolated by selecting ‘Tracking’ for the ‘Type’ filter. The table shows the total payment value and the current status. By clicking on 'View' for a specific payment, users can see the details and project information associated with that payment value, as well as ‘Download Invoice’ for additional fields associated with that specific payment.
By clicking on ‘Export’, users can download and view additional fields associated with all payments. By clicking on 'View' for a specific payment, users can see the details and project information associated with that payment value, as well as ‘Download Invoice’ for additional fields associated with a specific payment.
Payment statuses will be marked as ‘Ready for Review’ during quarterly payment cycles. When users are reviewing the payments, they should be marked as ‘In Review’ to freeze the current results. If the value aligns with expectations, the payment can be approved by selecting the 'Approve Payment' button. Note that once a draft payment is Approved, it becomes visible to Aggregators.
If the value does not reflect any actual transaction that needs to be made (example: negative payment total) then the user can select ‘Dismiss instead’ which will ignore the current period’s valuation and bring the payment’s contribution to the portfolio value to $0 for this period.