AP Voucher Payment Terms
For each accounts payable voucher, you enter payment terms that specify when the voucher is to be paid.
You enter the payment terms for a voucher in
or in .The payment terms are used for paying vouchers in
.The following are the possible payment terms:
Payment Terms | Description |
---|---|
Date | You enter a specific day, month, and year for the payment to be made. |
PWP (Pay When Paid) | Vantagepoint schedules the voucher for payment in the next normal payment run after your client has paid the billing invoice that includes the voucher expense.
To determine whether a billing invoice is fully paid, Vantagepoint recognizes payments that are entered as a receipt at the WBS level that is specified in the Project Level to Determine Paid Status field on the Options tab in . If you use Billing, this procedure is monitored. When you receive payment in full for the billing invoice, Vantagepoint 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 | Vantagepoint "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 | Vantagepoint includes the voucher in the payment run that occurs immediately after the posting of the voucher. |