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Payment Terms Provider Tab

 

In the Payment Terms tab, you can schedule when invoices will be created and create the default payment requirements for a provider.

 

Accountancy Contact

The individual designated by the provider to be contacted/notified for matters related to payment.

    • Click on the drop-down list and select a contact.
    • To create a new contact, click Create. A new window appears. For a description of the Create - Provider Contact page, click here: Contacts Management - Provider.
VAT Rate

The consumption tax rate to be applied to the provider's charges.

Click on the drop-down list and select a VAT rate.

 To modify, delete or create a VAT rate, go to System > Configuration > System Values > VAT Rates.

Invoices Dates
Invoices Dates section

In the Invoices Dates section, you can determine if you want to include pro forma invoices when invoicing and configure when invoices will be sent.  

You cannot modify global payment terms in this tab. To modify global payment terms, go to System > Configuration > Advanced Configuration > Provider > Payment Terms.

Use System Terms

The default terms you created in Advanced Configuration.

    • To use the system terms for this provider, select the tickbox. The fields in the Invoices Data section now are now locked cannot be modified.
    • To create unique invoicing dates for the provider deselect the tickbox. The fields in the Invoices Data section are now unlocked and can be modified.

 To create or modify the system terms for providers, go to System > Configuration > General Configuration > Advanced Configuration > Provider > Payment Terms.

Use Pro Forma Invoice

An invoicing procedure which includes pro forma invoices.

    • To include pro forma invoice, select the tickbox. The Expected Pro Forma Invoicing Date and Actual Pro Forma Invoicing Date fields are now unlocked and can be modified.
    • To not include pro forma invoices, deselect the tickbox. The Expected Pro Forma Invoicing Date and Actual Pro Forma Invoicing Date fields are now locked and cannot be modified.
 

The following columns and options used to determine when an invoice is sent are discussed in the table below:

reference date

The date all invoicing activities are determined from. The dates are: 

  • "Activity deadline date" - the invoice is created the specified number of days and/or months after the last possible date permitted for the activity's completion.

  • "Pro forma invoice date" - the invoice is created the specified number of days and/or months after the creation of the pro forma invoice.
  • "Current date" - the invoice is created the specified number of days and/or months after the date you presently modified the section.
  • "Earliest expected invoicing date" - the invoice is created the specified number of days and/or months after the earliest possible date permitted for invoicing agreed upon by you and your provider.
  • "Latest expected invoicing date" - the invoice is created the specified number of days and/or months after the last possible date permitted for invoicing agreed upon by you and your provider.

 

  • "Activity deadline date" is only available for Expected Pro Forma Invoicing Date.
  • "Pro forma invoice date" is only available for Expected Final Invoicing Date.
  • "Current date", "earliest expected invoicing date" and "latest expected invoicing date" are only available for Actual Pro Forma Invoicing Date and Actual Final Invoicing Date.

 

end of month

The invoice is created at the end of the month of the reference date. For example, if an activity is completed on May 10th and you have selected end of month, the invoice is created on May 31st.  

To have the invoice created at the end of the month, select the tickbox.

+ "m" months

The specified number of months after the reference date. For example, if an activity is completed on February 15 th and you have selected 2 months, the invoice is created on April 15th.  

To set the number of months, click the drop-down list and select the number.

+ "n" days

The specified number of days after the reference date. For example, if an activity is completed on February 15th and you have selected 5 days, the invoice is created on February 20th

To set the number of days, click the drop-down list and select the number.

Expected Pro Forma Invoicing Date

The scheduling method for determining when the pro forma invoices for the provider's finished activities will likely be created.  

To specify the method, first select the reference date. Then decide if you want the invoice created at the end of the month and if applicable, specify the number of months and/or days after the reference date to determine when the invoice will be created.

Expected Final Invoicing Date

The scheduling method for determining when the final invoices for the provider's finished activities will likely be created.  

To specify the method, first select the reference date. Then decide if you want the invoice created at the end of the month and if applicable, specify the number of months and/or days after the reference date to determine when the invoice will be created.

Actual Pro Forma Invoicing Date

The scheduling method for determining when the pro forma invoices for the provider's finished activities will actually be created.  

To specify the method, first select the reference date. Then decide if you want the invoice created at the end of the month and if applicable, specify the number of months and/or days after the reference date to determine when the invoice will be created.

Actual Final Invoicing Date

The scheduling method for determining when the final invoices for the provider's finished activities will actually be created.  

To specify the method, first select the reference date. Then decide if you want the invoice created at the end of the month and if applicable, specify the number of months and/or days after the reference date to determine when the invoice will be created.

Activity Deadline Example

A test of the information provided in the Invoices Dates section to determine if the dates are correct. Either manually enter an example activity deadline date in the appropriate date format set in System Configuration into the field or click calendar and select from the calendar.  

To see the example dates, click Show Expected Invoicing Dates. A new window which has the example dates appears.

Payment Terms
Payment Terms Section

In the Payment Terms section, you can set the default payment requirements to be applied to this provider.

You cannot modify global payment terms in this tab. To modify global payment terms, go to System > Configuration > General Configuration > Advanced Configuration > Provider > Payment Terms.

Default Payment Terms

The payment requirements automatically suggested by the system whenever you create an invoice for this provider. For example, you are to pay the provider invoice in installments instead of a single, full payment.  

    • To set the default, click on the drop-down list and select the payment terms.
    • To modify provider specific payment terms, click . A new window appears. For a description of the window, click here: Edit - Payment Terms .
    • To create new payment terms, click . A new window appears. For a description of the window, click here: Create - Provider Payment Terms.
Payment Terms Details

An overview of the details in the selected payment terms.

Default Payment Terms for Empty Invoices

The payment requirements automatically suggested by the system whenever you create a non-project-related invoice for this provider . For example, you are to pay the provider invoice in installments instead of a single, full payment.  

To set the default, click on the drop-down list and select the payment terms.

You cannot create or modify provider-specific payment terms from this field.

Payment Terms DetailsAn overview of the details in the selected payment terms for empty invoices.
EditClick to modify the tab.
SaveClick to apply any modifications.
CancelClick to terminate the modification process.