Processing lease invoices

This procedure describes the steps required to transfer the lease data needed to process lease payments to the Accounts Payable application.

  1. Create invoices.
    1. Run Invoice Creation (LM131).

      Use these guidelines to specify the field values:

      Company / Company Group / List

      One of these fields is required. Only one can contain a value.

      Lease

      Select a lease to create invoices only for that lease.

      If you select a value for this field, then you must select a value in the Company field.

      Lease Classification

      Select O to create invoices for only Operating leases and C for Finance leases. The program will select all the leases from the company, company group or attribute list that match this classification. The default value is blank (all leases).

      Lease Type

      Select specific lease type to create an invoice. It must be a valid lease type defined on Lease Types (LM06.1)

      Invoice Date

      Specify an invoice date. If this field is blank, then the invoice date will be the system date.

      Due Date

      Specify invoice payment due date. LM131 will select all the payments due on or before that date from the payment schedules of all selected leases.

      Update

      Select Yes in this field to create the invoices.

      Note: We recommend that you run LM131 first with the No option to view a report of invoices that will be created with the Yes option.
      Sort

      Select a sort option for the report. Option L, which is the default setting, sorts by company, lease and vendor; Option V sorts by company, vendor, and lease.

      If there are allocation codes related to this invoice, then multiple distribution lines is created when you run LM131. Allocation codes are created and assigned to companies on Allocation Codes (LM28.1).

    2. To review the invoices you created, run Invoice Listing (LM231).
  2. (Optional) Run Invoice Adjustment (LM31.1) to adjust invoices.
    1. Access Invoice Adjustment (LM31.1) to review and change invoice information.

      You can change any field except for the company, vendor, lease number, and payment number. Use these guidelines to specify the field values:

      Company

      The Company field is required. Use the Next form action to scroll through the existing invoices.

      Miscellaneous

      Click Misc to open the Invoice Adjustment Miscellaneous (LM31.2) and add Accounts Payable information such as an authority code, a process level, a handling code, an accrual code, a vendor location, or a voucher number.

      Note: The Lease Management application requires approved invoices before they are released and interfaced to the Accounts Payable application. If you did not enter an authority code on the payment schedule line for this invoice, then you must assign an authority code on this subform or use the online approval process described in step 3 to assign an authority code at the approval stage.
    2. To view the adjusted invoices, run Invoice Listing (LM231).
  3. Approve invoices, using one of these two methods:
    Method Description
    Batch

    Run Mass Payment Approval (LM136). This program will approve all unreleased invoices that were assigned an authority code.

    Note: You cannot use this method for invoices that were not assigned an authority code.
    Online Use Invoice Payment Approval (LM36.1).

    1. Inquire on invoices for a company

    2. Assign an authority code for payments where needed

    3. Select Yes in the Approve field

    4. Use the Change form action to approve the invoices.
  4. Interface invoices to the Accounts Payable application, using one of these two methods:
    Method Description
    Batch Run AP Interface (LM140). This program will interface all approved invoices.
    Online Use Invoice Payment Approval (LM36.1) to approve and interface invoices.

    1. Inquire on invoices for a company

    2. Assign an authority code for payments where needed

    3. Use the Approve and Interface to AP (S) line action with the Change form action to approve and interface the invoices.

    Consider these fields on AP Interface (LM140).

    Company / Company Group / List

    You must specify a company, a company group, or an attribute list. These three fields are mutually exclusive, but one of them is required.

    Lease

    If you specify a lease number in this field, then the Company field is required. The program will release only approved lease invoices associated with that lease.

    Lease Classification

    You can release approved lease invoices for all operating leases (O) or all finance leases (C) in the selected company, company group, or attribute list. The default setting is blank (all leases).

    Lease Type

    You can release approved lease invoices for only leases assigned a specific lease type. The program will select all the approved lease invoice payments for leases that match this type in the company, company group, or attribute list. If you leave this field blank, then all types are released.

    Through Invoice Date

    You can release approved lease invoice payments with invoice dates on or before the date specified in this field. If you leave this field blank, then the system date is set as default.

    Update

    Select Yes in this field to interface invoices when you run LM140.

    Note: It is strongly recommended you run LM140 first with the No option to view a report of the invoices that will be interfaced with the Yes option.
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