ctcLink Reference CenterFinanceAccounts Payable Vouchers 10Creating Recurring Payments / Voucher Contracts

Creating Recurring Payments / Voucher Contracts

Purpose:   To set-up recurring voucher contracts to streamline recurring payment process using ctcLink.

Audience:  Accounts Payable staff.

In the course of paying obligations, businesses often make recurring payments. You can save time by creating Recurring Voucher Contracts for vouchers that are prepaid repeatedly. Items such as rent, utilities, lease payments, and regular shipments are often made to the same vendors for consistent amounts

As with all invoices, these regular invoices require vouchers for payment. ctcLink lets you automate the creation of recurring vouchers. A recurring voucher contract is a template to create vouchers.

Creating Recurring Payments/Voucher Contracts

With recurring voucher contracts, you must specify the supplier, voucher line, and distribution items for a recurring voucher. You must also define the contract information, including the start date, an optional end date, voucher schedules, AP Business Unit, and gross amounts. If desired, you can also define withholding, discount, and VAT information. Each supplier can have one or more voucher contracts.

After you save a voucher contract, you can expand it into a recurring voucher. You can then load the expanded voucher into a table for viewing, validating, and editing. These are vouchers that are now available for payment, adjustment, and posting.

Navigation:  Procurement Contracts > Add/Update Contracts

  1. Enter Set ID.
  2. The Contract ID will auto-populate with NEXT until subsequent pages are completed and saved.
  3. Select the Contract Process Option list.
  4. Select the Recurring Voucher list item.
  5. Select the Add button.
Add a New Value tab

Use the Contract Entry - Contract page to create a base voucher. 

Use the Supplier ID field to select the supplier for the contract.

  1. Select the Supplier ID field.  Enter the desired information into the Supplier ID field.

If required, enter the desired information into the Master Contract ID field.

Use the Maximum Amount field to enter a value that specifies the total amount this contract should not exceed. The total released amount of all lines plus the amount released for open items must not exceed this amount. This value is expressed in the contract header currency.

  1. Enter Begin Date and Expire Date.
  2. Enter the desired information into the Maximum Amount field.

Use the Invoice Number field to enter an invoice number that will be associated with every voucher in this contract. The invoice number must not be more than 12 characters. For voucher contracts, the system adds an ID extension consisting of a hyphen and 1 to 3 digits to uniquely identify the vouchers.

  1. Enter the desired information into the Invoice Number field.

Use the AP Business Unit field to enter the ctcLink Payables voucher contract business unit for the vouchers. Only lines with distributions defined on the Voucher Distribution Information page that match this business unit can be released.

  1. Enter the desired information into the AP Business Unit field.
  2. Enter the desired information into the Accounting Entry Template field.
  3. Enter the desired information into the Payment Terms ID field.

Use the Basic Date Type list to select what date is used to calculate the voucher due date and discount due date, if applicable. This is a voucher-related field used in combination with payment terms.

  1. Select the Basis Date Type list as Inv Date.

Use the Gross Amount field to enter the gross amount for the contract. This is required for voucher contracts and only applicable to voucher and general contracts. The sum of all contract line amounts, plus miscellaneous charges and voucher contract charges (freight, sales tax) must equal the gross amount.

  1. Enter the desired information into the Gross Amount field. 
  2. Enter the desired information into the Sales Tax field. 
  3. Enter the desired information into the Line Description field. 
  4. Enter UOM and Category details. 
  5. Enter the desired information into the Merchandise Amt field.
  6. Select the Voucher Distrib button.

You use the Contract Entry - Voucher Distribution Information for Line 1 page to set up one or more distribution lines for each contract line, based on the AP business unit. When you release a contract line to a voucher, the system copies distribution lines to the voucher line.

  1. Enter the Voucher Distribution details.
  2. Select the OK button.
  3. Enter a Category by selecting the search icon.
  4. Enter a Description for this contract.
  5. Select the Save button.

The Contract ID is created.

  1. Change the status to Approve.
  2. Select the Save button.
  3. Select the Contract Releases link.

Use the Create Releases page to generate a schedule for the series of vouchers, and create the releases of the vouchers.

Based on Release requirement, you can set up Release dates, Frequency and Duration.

In step 2, verify the Release Default details. Make sure that Supplier location is correct. 

  • Use the Interval list to set the interval at which a voucher should be created for this contract. Valid values include Annually, Monthly, Weekly, and Daily.

If you select the intervals of Weekly or Monthly, use the On The field to indicate the day of the week or month on which the voucher should be created.

  • Use the Every field to define whether the voucher should be created each  year, day, week, or month, or every two, three, four, and so on years, months, weeks, or days.
  • Use the Times option to set the number of releases.
  1. Select the Times option.  Enter the desired information into the Times field. 
  2. Select the Populate button.

Notice that the Release Template grid displays the releases you scheduled.

  1. Select the Stage button to stage qualifying vouchers.

A release can be staged for approved contracts only.

Once you have staged Vouchers then you can review the staged Vouchers by selecting Review Releases tab.  

  1. Select View All on the Review Stage Releases tab.  

The number of tabs will correspond to Times number selected.  For example, if you selected 12 times or 1 year, there should be 12 voucher lines.  Voucher amount should also total to maximum total contract amount.

  1. Select the OK button.  
  2. Select the Save button.

You have successfully created a recurring voucher contract.

End of Procedure.

Note: After this, to Create Voucher, you need to run the Voucher Build Process with processing option as "Process Contract". Then select the appropriate Business Unit and Contract ID. Contract Voucher Action would be  "Build Voucher". Then select Run.  

Important Note:  If Voucher release is future dated then make sure that Payable Business definition has Contract Release date option is marked as No Date. If this is current date then you won't be able to release future dated Vouchers.


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