You use the Contract Line Items tab
in the Software Contracts application to create a schedule of payments
for software contract line items.
Before you begin
Before you can create a payment schedule, you must select
the
Payment Schedule check box on the
Properties tab.
About this task
Payment schedules are typically created only for high
value items. Payment schedules are created at the line-item level.
You can create a payment schedule until the contract is approved.
You
can create a schedule for the payments to occur at the following times:
- When the order is placed. This would be done, for example, if
a down payment is required.
- In a set amount of time after the PO was approved. For example,
you can schedule a payment to occur 10 days after PO approval.
- When the item is received.
- In a set amount of time after the item is received. For example,
you can schedule a payment to occur 30 days after receipt of the item.
Each scheduled payment automatically creates an invoice
record in the Invoice application.
Procedure
- In the Software Contracts application, display the record
containing the line for which you want to create a payment schedule.
- Click the Contract Line Items tab
to display the contract lines.
- Select the line for which you want to create a payment
schedule.
- In the Schedule Lines table window,
click New Row.
- In the Action field, specify a value
that identifies the trigger that causes the payment to be made (for
example, POAPPR).
- Specify a value in either the Payment Percent field
or the Line Cost field, but not both. These
fields work in concert, such that the system calculates the line cost
if you specify a payment percentage. The system calculates the percentage
if you specify a line cost. If you do specify a payment percentage,
the percentage on all lines must total 100%.
- In the Days Interval field, select
the amount of time to elapse between the action and the payment. Specify
zero to indicate that the payment is due at the time the action occurs.
- In the Target Invoice Status field,
specify the status assigned to the invoice when it is created.
- Click OK. The system creates the
payment schedule when the item is ordered.