Custom Payment Coverage

Choose from the following quarterly payment frequencies for your expenses. The table below breaks down the default values of each option. These values are also the default values for the Coverage Begin date for each quarter.

Frequency	Q1 begins	Q2 begins	Q3 begins	Q4 begins
Quarterly	January 1st	April 1st	July 1st	October 1st
Quarterly (England)	March 25th	June 24th	September 29th	December 25th
Quarterly (Irish)	February 1st	May 1st	August 1st	November 1st
Quarterly (Scottish Old)	February 2nd	May 15th	August 1st	November 11th
Quarterly (Scottish New)	February 28th	May 28th	August 28th	November 28th

Configure your fiscal calendar to use English / Scottish / Irish quarters.

1. Navigate to Contract > Payment Info > Recurring Expenses.

   Use the links in the Navigation Pane on the leftmost side of the page.

2. Select the recurring expense you want to edit from the Contract Expense Setup List.

3. In the Expense Schedule / Escalations section, select Custom Payment Coverage.

   The Pay in Arrears? check box is now hidden.

4. Scroll to the Custom Coverage Payments section of the page.

   Depending on what value you select from the Frequency field, the configuration options that appear in the Custom Coverage Payments section will differ.

5. Configure your custom payment coverage.

   You can change the Coverage Begin dates for the Annually, Semi-Annually, and Quarterly frequency options. For all other frequency options, you cannot change the Coverage Begin dates.

   There are no configuration options for the Monthly or None frequency options.

6. Click Save Changes.

   This displays in the Actions menu on the right side of the page.

If you created a custom Expense Setup page before the 19.12 release, the Custom Payment Coverage section does not appear on your Expense Setup page. You need to make a copy of the global template to use this functionality.

1. Select Admin in the toolbar in the upper-right corner of the window.

   The System Administrator Dashboard page opens.

2. Click Manage Page Layouts link in the Company Administration column.

   The Manage Summary Pages page opens.

3. Select the Manage List Layouts tab.

   The Manage List Layouts page opens.

4. Click Add Item in the lower-right corner of the List Layouts table.

   The Add Item window opens.

5. Enter the name of the page layout in the Page Layout Name field.

6. Enter a description of the page layout in the Description field.

   Add descriptions to every template, layout, or field you create in Lucernex, so future administrators understand the purpose and context of each item.

7. Select the Contract > Payment Info > Recurring Expenses folder from the Parent Tab field.

8. Select Expense Setup from the Primary Table field.

9. Select the Yes option for the Allow Edit setting.

10. If you want the list layout to have even column widths, select the Even Column Widths?check box.

11. Select the Contract Expense Setup [Global Layout] layout from the Initialize layout from existing layout field.

12. Select the portfolio you want this list layout to be available for from the Available for the following Portfolios / Capital Programs field.

    All Portfolios / Capital Programs is the default. Multiple options are available.

13. Select Add.

    The window closes. The list layout appears in the Manage List Layouts table. You can view this page layout by selecting it from the field to the left of the Actions menu on the Contract > Payment Info > Recurring Expenses page.

Use Custom Payment Coverage when an expense uses Annually as the payment frequency and the term doesn't line up with a full year. You can set the coverage dates and due dates yourself, so the first or last payment can reflect a partial period.

Example: A contract expense starts partway through a year or ends before a full annual period is complete. A standard annual setup might not produce the payment pattern you need. Custom payment coverage gives you more control over the annual payment schedule.

Use this option when all of the following are true:

• The expense is set up in Contract > Payment Info > Recurring Expenses.
• The payment frequency is Annually.
• The first payment period, the last payment period, or both cover only part of a year.
• You need to control the coverage dates or payment due dates for the annual schedule.

If the term covers only whole annual periods, a standard annual expense schedule usually works.

How it works

Custom payment coverage adds a section to the recurring expense setup. In this section, you define the coverage and due-date pattern for non-monthly payment frequencies. For annual payments, you configure one annual row.

This lets you set the dates for the annual payment coverage instead of relying only on the default annual schedule logic.

Setting	What it does
Payment Frequency	Sets how often payments are scheduled. For this scenario, select Annually.
Custom Payment Coverage	Turns on the custom coverage section for supported non-monthly frequencies.
Custom Coverage Payments	Lets you enter coverage begin dates and payment due dates for the annual schedule.

Set up custom payment coverage for an annual recurring expense

1. Go to Contract > Payment Info > Recurring Expenses.
2. Select the recurring expense you want to update.
3. In the Expense Schedule / Escalations section, make sure the payment frequency is Annually.
4. Select Custom Payment Coverage.
5. Scroll to the Custom Coverage Payments section.
6. Enter the annual coverage details that match the contract terms.
7. Enter the payment due date for the annual payment.
8. Save your changes.

The available fields and behavior can differ from a standard expense schedule with non-monthly frequencies. Review the generated schedule after you save.

Check the schedule after you save

After you save the recurring expense, check that the schedule shows the annual coverage you intended:

• Make sure the first payment covers only the intended partial period.
• If it applies, make sure the last payment covers only the intended partial period.
• Make sure the payment due date meets your business requirement.
• Generate or preview downstream transactions using your normal process.

Frequently asked questions

Why use custom payment coverage instead of a standard annual setup?

It gives you more control over annual coverage dates, especially when the first or last period is a partial year.

Does this apply to a monthly payment frequency?

Not in the same way. Custom coverage is meant for non-monthly frequencies, such as annual, quarterly, and semiannual.

Should I review the payment schedule after saving?

Yes. Always check that the coverage dates, due dates, and payment pattern match the contract terms.

If you use extend contracts on a contract that with Custom Payment Coverage, the system updates the last payment due date for these contracts using the following logic:

1. After extending the Expense Schedule End Date, Lucernex calculates the Coverage Begin Date and Coverage End Date of your last payment.

2. If the last payment due date falls outside of the last payment’s natural Coverage Begin and Coverage End Dates, then Lucernex updates the last payment due date to match the last payment Coverage Begin Date.