CA APM lets you track financial information that is associated with assets and legal documents. Tracking costs and payments helps reduce the risk of overpaying or underpaying vendors and suppliers. This information is also useful when deciding about future equipment purchases and deployment.
In addition to tracking cost-related information for assets and legal documents, use cost records with payments to create payment schedules. The schedules can help you make timely payments and reduce the risk of overpayment. The information that you provide on the Cost page is used to calculate the payment schedules. If you define the cost as a recurring cost, the schedule includes multiple payment records. For example, if you enter a cost that recurs monthly for one year, the product automatically creates 12 payment records. If the cost is a one-time cost (not a recurring cost), the schedule includes only a single payment record.
Cost records store information about costs and billing, payees, recurring charges, and one time charges. Payment records maintain information about individual payments that are related to a specific cost. A payment record also calculates and displays the total scheduled payment amount, total paid amount, and the balance due for a given cost. A payment record can represent a single payment of the full cost or multiple partial payments.
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