Creating prepayments

Company

Specify the Payables company number. When you create an intercompany invoice, this value represents the From company.

Process Level

Process level is a required field. If a company has only one process level, you must set it as the default when setting up process levels. This field must be left blank if the default process level is set.

Vendor

Specify a vendor number unless one of these is true:

• You are creating a match invoice and a purchase order number, in which case the vendor number from the purchase order is used.
• You are creating an invoice for a one-time vendor, in which case leave the vendor number blank.

Prepayment Number

Specify a prepayment invoice number that is unique to the company and vendor. This is similar to an invoice number.

Prepayment Date

Specify the date of the transaction. This date is not used to calculate a due date.

Due Date

Specify the date that is used to select the prepayment invoice for payment. Terms are not used as the default on prepayments.

Prepayment Amount

Specify the amount of the prepayment. For example, a down payment of $5,000 on a $30,000 item means that the prepayment amount is $5,000.

Currency

Specify a currency code. This code represents the currency of the prepayment invoice. If this field is blank, then the default is the invoice currency that is assigned to the remit to location vendor or vendor class. If there is no invoice currency assigned, then the company base currency is used.

Add On Charge

Specify an add on charge code if the invoice is subject to additional charges.

Prorate Amount

Specify the amount of the add on charge.

Prorate Account

Specify the account string to which the add on charge is posted.

Discount Code

Specify the discount code if the invoice is subject to discounted terms. This list shows the vendor records arranged in order of priority from which the default values are used:

• Company Vendor
• Remit to Code
• Pay Vendor from Normal Remit to Location
• Purchase From Location

Float Days

Specify the amount of days to add to the calculated discount date.

Flexible Terms

Select this check box if the invoice is subject to flexible terms.

Anticipate

Select this check box to calculate the advantages of applying a discount or paying an invoice in full. These advantages depend on the interest that is earned on amounts. The required prime rate is specified on the vendor record.

Diversity Code

Specify a code to identify a category of diverse procurement.

Authority Code

Specify an authority code of the person who is responsible to approve the invoice or to approve a portion of the Payables process.

Retainage Accrual Code

Specify an accrual code of invoices, payments, and distributions for vendor agreements with retainage. If this field is defined at the invoice level, then this code overrides the retainage accrual code at the Company and Process Level.

Reference Type

Select an invoice reference to indicate the type of number that the vendor is providing to reference the invoice.

Reference

Specify a user reference. User references are maintained with the invoice.

Invoice Receipt Date

Specify the date the invoice is received for processing in Payables.

Bill From

Specify the vendor from which the invoice originated.

Bill To

Specify the billing company for the invoice.

Purchase From

Specify the vendor from which to purchase.

Cash Code

Specify a valid cash code for the invoice payment. This code represents a bank account. If this field is blank, then a cash code that is assigned to one of these records is used:

• Remit to location
• Vendor
• Vendor class
• Process level company
• Pay group

Reportable Income Amount

Specify a reportable amount of the invoice. If this field is blank, then the reportable amount is the invoice amount minus the discount.

VAT Split Payment

Select this check box if the invoice is eligible for VAT split payment. The VAT split amount will be included in the payment output files.

Payment Code

Specify a valid payment code for the invoice payment. This code represents a type of cash or bill of exchange payment. If this field is blank, then the payment code that is assigned to the remit to location, vendor, vendor class, or pay group is used.

Vendor Payment Amount

Specify the amount the vendor expects as payment for the invoice.

Currency

Specify the payment currency of the vendor.

If you define manual payment information, then the manual payment can be used to pay only this individual invoice. The invoice must be a base currency invoice. After you release the invoice, you cannot manually change payment information.

To create a manual payment for more than one invoice, create a manual payment for a base currency invoice, or apply more than one invoice to a payment, use Cash Payment Entry or Bill of Exchange Entry.

Payment Number

To create a vendor-issued bill of exchange, specify the bill of exchange payment number.

To create a manual payment for the invoice, specify the payment number. If this field is specified, then the payment code must be a valid cash or bill of exchange payment transaction code. It must be defined for manual payment in Cash Management. If manual payment reservation is required for the payment code, then the payment number must be reserved in Manual Forms Reservation.

Date

If you specify a payment number for a cash payment, specify the payment date. If you specify a payment number for a bill of exchange payment, specify the bill of exchange payment due date.

Amount

If you specify a payment number, specify the amount of the payment. The payment amount must equal the Prepayment Amount or the Prepayment Amount minus any available discount amount.

Payment Priority

Specify a payment priority.

Invoice Group

You can assign a user-defined invoice group to the invoice that can be used to select invoices for payment. If this field is blank, the invoice group that is assigned to the remit to location or vendor is used.

Separate Payment

Select whether to create an individual payment form for this invoice.

Pay Immediately

Select whether to schedule the invoice for immediate payment regardless of the due date.

Enclosure

Select whether the payment for this invoice requires an enclosure.

Secondary Withholding

Select this check box if the use of secondary withholding codes is required for the invoice.

Recurring Frequency

Select the frequency of the invoice processing.

Number Of Recurrences

Specify the number of processing recurrences.