Creating recurring payments

  1. From the Leases menu, open a lease record.
  2. Click Payment Schedule.
  3. Select a payment schedule record.
  4. On the Recurring Payment Detail tab, click Create
  5. Specify this information:
    Begin Date
    Specify the begin date of the recurring payment. For the first recurring payment of a lease, the begin date must be the same as the begin date of the lease.
    End Date
    Specify the end date of the recurring payment.
    Non Lease Component
    Select one of the non-lease components that are assigned to the lease on the Non Lease Component tab of Lease.
    Frequency
    Select the frequency of the recurring payments. The frequency can be weekly, monthly, quarterly, semi-annually, or yearly.
    Due Date
    Select the due date for the first payment instance.
    Payment Amount
    Specify the lease payment amount for each payment instance.
    Authority Code
    Select the authority code of the person responsible for releasing the lease invoice for payment. Alternatively, you can submit the payment for approval using Invoice Payment Approvals.
    The billing schedule is automatically created from the defined begin date for the defined frequency, Payment Date Range, and Payment Amount.
  6. On the Tax tab, specify this information:
    Taxable
    Select this check box if this payment is taxable.
    Tax Code
    Select a tax code for this payment.
    Taxable Amount
    Specify the taxable amount for this payment. If this amount is not specified, the fixed payment amount is the default.
    Or Percent
    Optionally, specify the percent of the taxable payment amount. This field can be used to tax compute amounts that are unknown until invoice time.
    Tax Usage Code
    Select the tax usage code for this payment. The default is from the vendor or vendor location that is attached to the lease.
  7. Click Save.