Payment Terms and Accounts Payable

For each voucher, you establish payment terms that specify when the vendor is paid.

Specify the payment terms in the Pay Terms column on the Vouchers tab of the Vendor Review form. Select from one of the following settings:

• Date: Select this option to specify a date for payment. Enter the day, month, and year of the payment.
• PWP (Pay When Paid): DPS schedules the voucher for payment in the next normal payment run after the client has paid the invoice that includes the voucher expense.

  To determine whether an invoice is fully paid, DPS recognizes payments that are entered as a receipt at the WBS level specified in Project level to check when determining the paid status of invoices on the Accounts Payable tab in Settings > Advanced Accounting > System AP.

  If you use Billing, this procedure is monitored. When you receive payment in full for the invoice, DPS modifies the status of the PWP voucher to Paid and processes a payment for the voucher in the next payment run. If you do not use Billing, you must enter the invoice number.

• Hold: DPS "holds" the voucher from payment. After you know the date on which you want to process a held voucher, you must change the payment terms from Hold to another option.
• Next: DPS includes the transaction in the payment run that occurs immediately after the posting of the voucher.