Activating a Prepaid Contract - 31f

Purpose: Use this document as a reference for activating a prepaid contract in ctcLink.

Audience: Settlement Manager, GL Accountant

Navigation: Main Menu > Customer Contracts > Create and Amend > General Information

Activating a Prepaid Contract

  1. Use the Find an Existing Value tab of the General Information page to search for a contract:
    1. If it did not default, enter or select the appropriate business unit in the Business Unit field.
    2. Enter or select the contract number (same as the award number) in the Contract field.
    3. Click the Search button.
Find an Existing Value tab
  1. Click the Lines tab.
  1. Click the Detail tab.
  1. Click the Distribution link under Accounting for the line. The next several steps are to verify the revenue account code to the contract.
  1. Use the Accounting Distribution page to verify/update the contract accounting details:
    1. In the Revenue Forecast section, enter or select the GL business unit for this account in the GL Unit field.
    2. In the Revenue Forecast section, enter or select the revenue account in the Account field.
    3. In the Revenue Forecast section, enter or select the revenue department in the Dept field.
    4. In the Unbilled AR section, complete the required ChartField entries for the contract, i.e. Account, Oper Unit, Fund, Dept, Class, Project, and State Purpose.
    5. Click the Save button.
    6. Click the OK button.
Message
  1. Click the Return to General Information link.
  1. Click the Go to More drop-down button and select the ‘Prepaids’ option.
  1. Use the Prepaids page to establish prepaid balance amounts for the contract:

Note: The Status on the General tab on the Prepaids page is ‘Pending.’ The Status controls the actions that can be performed on an advance line and what the system can perform in the way of processing.

  1. Enter the full amount in the Purchased Amount field of the advance provided by the contracting sponsor. This amount will remain static throughout the prepaid advance process.
  2. Enter the appropriate date of the advance into theExpiration Datefield.
  3. Click theUtilizationtab.
  1. Use the Utilization tab to provide the contract line item details.
    1. Enter or select the contract line item number into theContract Line Numfield.
    2. Enter a description in the Utilization Descr for Billing field, which is applied to the utilization line that is included in the bill.
    3. Click the Save button.

Note: The General tab displays. The Purchased Amount and Remaining Amount fields show the amount of the prepaid.

  1. Click theInitial Billingtab.
  2. Use the Initial Billing tab to define the following:
    1. Use the Prepaid Tax Timing drop-down button to select when to tax the prepaid amount.
    2. Click the Save button.

Note: The General tab displays.

  1. Click the Billing Plans link.
  1. Use the Assign Billing Plan page to assign bill plans to contract lines. Define bill plans and assign the contract lines to these existing bill plans, or assign the lines to a new billing plan and then define the details of the bill plan.
    1. Select the checkbox for the first line in the Prepaids to be Assigned/Unassigned segment of the page. It represents Contract Line 1 andSequence 1.
    2. In the Bill Plan to Assign/Unassign section, use theBilling Methoddrop-down button to select the billing method option.
    3. Enter an informational description into theDescriptionfield.
    4. Enter or select the appropriate billing plan template in the Billing Plan Template field.
    5. Enter or select the appropriate bill plan detail template ID in the Bill Plan Detail Template ID field.
    6. Click theAssignbutton.

Note: The Plan field in the Prepaids to be Assigned/Unassigned section now contains a link to the newly assigned billing plan.

  1. Click theB102link (or the Bill Plan on the new second line).
  1. Use the Billing Plan General page to confirm that the Billing Status is ‘Pending.’ When the new bill plan is first opened, several fields in the Customer Information, Billing Options, and Billing Default Overrides sections are pre-populated. These values come from setup that is defined at the contract level on the Billing Options page or in the Billing Plan Detail template.

Options selected in the Billing Options section impact other aspects of the bills. For example, the selections made for Bill Type and Bill Source impact the format of the final invoice.

  1. If it did not populate, enter or select the appropriate invoice format for the bills that needed to generate from this bill plan in the Invoice Form field.
  2. If it did not already populate, use the Cycle ID field to associate a billing plan with a bill cycle that is defined on the Bill Cycle page. When running the Contracts Billing Interface process, specify that it should process only billing plans of a specific billing cycle type.
  3. If it didn’t already populate, use the Bill By ID field to enter an ID for grouping bill lines on invoices.
  4. If it didn’t already populate, use the Billing Specialist field to enter a code for a billing specialist. Billing Specialists are established on the Billing Specialist page.
  5. Click the Save button at the bottom of the screen (not shown in the screen capture).
  6. Click the Events tab.
Billing Plan General tab
  1. Use the Events page to enter the prepayment event details:
    1. Use the Event Status drop-down button to change the status to ‘Pending.’

Note: This makes all the field available for entry. If an Event Detail line is not already included, click on the Add multiple new rows button.

  1. Enter or select the date the Prepaid amount was received in the Event Date field.
  2. Enter the Prepaid amount in the Amount field.
  3. Use the Event Status drop-down button to change the status to ‘Ready.’
  4. Click the Save button.
  5. Click on the Return to Assign Billing Plan link.
  1. Click theReturn to Prepaid Balances link.
  1. Click theDeferred Revenue Distributiontab.
  1. Use the Deferred Revenue Distribution tab to enter the Chartfield details:
    1. Enter or select a separate deferred revenue distribution code for the prepaid advance amounts Distribution Code field. This allows easy tracking of expenditures.

Note: Distribution Codes input a pre-determined accounting string. Once this information is available, enter any fields that were not defined. When entering these fields, the selection in the Distribution Code field is removed, but the accounting string remains.

  1. Enter or select the appropriate fund in the Fund field.
  2. Enter or select the appropriate department in the Department field.
  3. If it did not already populate, enter or select the project ID in the Project field.
  4. Enter or select the appropriate state purpose in the State Purpose field.
  5. Click the Save button.

Note: The General tab displays.

  1. At this time, update the status of the prepaid contract:
    1. Use the Status drop-down button to change the status to ‘Ready.’
    2. Click the Save button.
    3. Click theReturn to General Informationlink.
  1. Click on the Amount Allocation link.
  1. Use the Billing Allocation page to update the billing information:
    1. Enter the amount of the Prepaid Bill Plan in the Fixed Billing field.
    2. Click on the Recalculate button.

Note: The Allocation field changes from ‘Allocation Not Complete’ to ‘Complete.’

  1. Click the Save button.
  2. Click on the Return to General Information link.
  1. Update the overall status of the prepaid contract.

Note: If there are any required values missing, the status will not change and the error message displays what required values are missing.

  1. Use the Contract Status drop-down button to update the status to ‘ACTIVE.’
  2. Click theSavebutton.

Note: The next step in the process for the Prepaid contract is to run the Contracts to Billing Interface to move the Prepaid invoice to Billing. The individual doing the billing has to be informed that there is a billing opportunity ready to be invoiced.

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