Creating payment details

  1. Select Leases and open a lease record.
  2. Click Payment Schedule.
  3. Select a payment schedule record.
  4. On the Payment Detail tab, click Create.
  5. Specify this information:
    Payment Number
    If your payment includes non-lease components cost codes, then assign the same payment number to the regular payment and to the non-lease component payment.
    Non Lease Component
    If the payment line is for a non-lease component payment, then select a non-lease components that is assigned to the lease. Select the Non Lease Component tab.
    Authority Code
    Select the authority code of the person responsible for releasing the lease invoice for payment. If you do not assign an authority code here, then you must assign one on Invoice Adjustment after you review the invoice for the payment. Alternatively, assign one after you submit the payment for approval using Approve.
    Due Date
    Select the due date for the payment.
    Payment Amount
    Specify the lease payment amount. If you do not specify a payment amount, then specify a compute name in the Compute field. If both payment amount and compute name are specified, then the payment due is the payment amount plus the amount computed using compute name.
    Lease Compute
    Select a lease compute name that is used to calculate the payment amount. If you do not specify a payment amount, then Lease Compute is required. If both payment amount and compute name are specified, then the scheduled payment is the payment amount plus the amount from the compute name.
  6. Click Compute Parameters and specify this information:
    Company
    Select a company number. If you select a company, then the Company Group field must be blank. You cannot select both.
    Or Company Group
    Select a company group. If you select a company group, then the Company field must be blank. You cannot select both.
    Compute From and Compute Through Account
    Specify the information for a range of accounts from which the compute data is pulled.
    Budget Number
    Specify a budget from which the compute data is pulled.
    Period
    Specify the current accounting period.
    Year
    Specify the fiscal year for the stored data on this record.
    Accrue Payment
    Select this check box if the payment is accrued.
    Reverse
    Select this check box if the payment is reversed.
    Compute Base Amount
    Specify a compute payment amount that is used in the percentage rent calculations.
    Maximum Payment
    Specify a maximum payment amount. If this field is populated, then this value is used if the computed value is greater than the maximum amount.
    Advanced Compute Option
    Select an advanced compute option that is attached to the payment schedule.
  7. Click Tax and specify this information:
    Taxable
    Select this check box if this payment is taxable. and specify this information:
    Tax Code
    Select a tax code for this payment.
    Taxable Amount
    Specify the taxable amount on this payment. The fixed payment amount is the default if this amount is specified.
    Or Percent
    Optionally, specify the percent of the taxable payment amount. This field can be used to tax compute amounts that may not be known until invoice time.
    Tax Usage Code
    Select the tax usage code for this payment. The value is the default from the vendor or vendor location that is attached to the lease.
    Note: To include taxes in the lease payment, verify that the Landed Cost check box is selected on the Tax Entity or the Entity Tax Code record.

    See Landed taxes on leases.

  8. Click Comments to create a comment description.
  9. Click Save.