Here are some of the common mistakes users make when recording and verifying payments in the Signet® service, and how to correct them.
Incorrect or duplicate payment recorded
Correcting an inaccurately recorded payment amount is a simple fix. Just record a new payment for the amount needed to balance out to the correct estimate total. Remember that it will be a positive payment if you originally recorded too little, and a negative payment if you originally recorded too much.
For example:
- A payment was recorded for $10,000 when it should have been $12,000. The payer will simply record a second payment for the amount of $2,000.
- A payment was recorded for $12,000 when it should have been $10,000. In this case, the payer will record a second payment for the amount of negative $2,000.
- A duplicate payment of $12,000 was recorded. The payer will record a third payment for the amount of negative $12,000.
Note: We recommend using the Comments section of each payment to explain to the payee that:
- this new payment is to correct the incorrect or duplicate payment
- the payee should confirm that the net amount (after the correction) is the expected amount of the pay estimate and verify the pay estimate as Yes
Including detailed comments can help prevent confusion later on in the project or during any potential audits. Correcting payments this way will ensure the DBE% is accurate.
Incorrect payee selected
If you accidentally selected the incorrect payee, you can fix the Signet data so it doesn’t affect the contract amount. Please contact the payee who was selected by accident and have them go through these steps with you:
- Have the payee verify the payment as "No."
- Record another payment with the negative value of the accidental payment.
- Have the payee verify the new negative payment as "Yes."
Following these steps will balance out the project’s payment total and DBE % to their original values. Then you can record a new payment to the payee you initially wanted to select.
We recommend using the Comments section of each payment to explain why it was recorded. This can help prevent confusion later on in the project or during any potential audits.
Incorrect verification status selected
There are no current workarounds for this scenario.
The solutions above are the quickest and simplest way to correct inaccurate payment data and are considered best practice for doing so.
If you have tried these strategies and still need some help, contact our support team.