Steps of preparing payment certificate of work owners
There are several names of the payment certificate as it is called owners or client's payment certificates
or according to the work nature of each company.
The first step to prepare payment certificate : Selecting name of the client and the related project then
the date of the payment certificate from a period to another then review executed works and record
current quantities which was executed and percentage of each item as shown in the following figure.
The first step : registering work items of the payment certificate
The second step , deductions are recorded in the payment certificate either related with advanced
payment – work guaranty – referred amounts – taxes – insurances , etc.
As shown in the following figure
The second step , deductions are recorded in the payment certificate
The third step : registering the deductions In detailed and with special percentages in the way that
enables to import the latest deductions on the payment certificate or inserting new values as shown in
the following figure.
The third step : registering the deductions
The fourth step: after registering all the data of the payment certificate, we create the accounting entry
to confirm the due revenues and related accounts with the ability of controlling the accounting directive
according to each item, so as direct each item to its special revenue or account selected in addition to
treat the finance of the payment certificate either from bank or supplier or clients.
The fourth step: The accounting directive of the payment certificate
The accounting directive of the payment certificate of work owners