Link a PBA Trust Account to a Contract
You can assign specific CM accounts to contracts or subcontracts subject to use of a project bank account (PBA).
- In the CM Accounts form, create one or more new bank account records that reflect the trust account(s) you set up with your bank
- Assign the trust account(s) you set up in the CM
Accounts form to the contract using either of the following forms (in the CM
Trust Accounts section):
Note: Your entries in one form update the other form automatically.
- PM Contracts
- JC Contracts
- If you need to assign the PBA trust account to a
subcontract, select the Qualified
for PBA Reporting check box in either of the following forms (in
the Project Bank Account Reporting section):
Note: Only subcontracts of PBA-eligible head contracts can be qualified for PBA reporting. However, your state laws may indicate that not all subcontracts are subject to PBA reporting.
- PM Subcontracts
- SL Subcontract Entry (PBA tab)
When you apply receipts to the head contract (AR Cash Receipts) or make payments on subcontracts (SL Subcontract Claims or AP), Vista uses the accounts you have designated for PBA at the head contract. The CM PBA Reconciliation report includes these transactions, along with held subcontract retention. To learn more about this report, see About the CM PBA Reconciliation Report.