ctcLink Reference Center9.2 Finance9.2 FIN - Accounts Payable Process Vouchers9.2 Creating Recurring Payments / Voucher Contracts

9.2 Creating Recurring Payments / Voucher Contracts

Purpose:   Use this document as a reference for creating recurring voucher contracts to streamline recurring payment process in 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.

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.

Creating Recurring Payments/Voucher Contracts

Navigation:  NavBar > Navigator > Procurement Contracts > Add/Update Contracts

  1. The Contract Entry search page displays.
  2. Select the Add a New Value tab.
  3. Enter Set ID.
  4. The Contract ID will auto-populate as "NEXT" until subsequent pages are completed and saved.
  5. Select Style ID = "AP".
  6. Select Contract Process Option = "Recurring Voucher".
  7. Select Add.
Contract Entry Add a New Value tab
  1. The Contract Entry - Contract page displays.
  2. Enter Supplier ID.
  3. Enter Begin Date.
  4. Enter Expire Date.
  5. 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.
  6. Enter Master Contract ID (Optional, not required. May leave blank).
  7. Enter Invoice Number.  It 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.
  8. Enter Gross Amount.  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.

If you enter the gross amount before you enter a value in the Merchandise Amt field, the field is updated with the gross amount. If you change the merchandise amount and insert a new line, the merchandise amount on the new line appears automatically so that the total is equal to the gross amount.  For example, if you enter a gross amount of $100.00, this value becomes the default merchandise amount. If you then add $10.00 of freight, the merchandise amount is updated to $90.00. If you then change the merchandise amount to $40.00 and add a new line, the merchandise amount on the second line appears automatically as $50.00.

  1. Enter AP Business Unit.  Only lines with distributions defined on the Voucher Distribution Information page that match this business unit can be released.
  2. Enter Accounting Template.
  3. Enter Sales Tax Amount.
  4. Enter Payment Terms ID.
  5. Select Basis Date Type as "Inv Date".
  6. Enter Line Description.
  7. Enter UOM.
  8. Enter Category.
  9. Enter Merchandise Amt.
  10. Select Voucher Distrib.
Contract entry page
details tab on contract items lines section

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. The Voucher Distribution Information window displays.
  2. Enter the Distribution Details.
  3. Select OK.
distribution section
  1. Select Save.
select the save button
  1. The updated Contract Entry-Contract page displays.
  2. The Contract ID is created.
  3. Change the Status to "Approved".
  4. Select Save.
  5. Select the Contract Releases link.
select contract releases link
  1. The Create Releases page displays.  Use it to generate a schedule for the series of vouchers, and create the releases of the vouchers.
  2. Based on Release requirement, you can set up Release dates, Frequency and Duration.
  3. In Step 2, verify the Release Defaults details. Make sure that Supplier Loc is correct. 
  4. 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.
  5. 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.
  6. Use the Times option to set the number of releases. 
  7. Select Populate.
Create Releases page
  1. Notice that the Release Template grid displays the releases you scheduled.
  2. Select the Stage button to stage qualifying vouchers.
  3. Select the Review Releases tab.

A release can be staged for approved contracts only.

Create Releases tab
  1. The Review Releases tab displays.
  2. The number of voucher lines will correspond to Times number selected.  For example, if you selected 9 Times, there should be 9 voucher lines.  Voucher amount should also total to maximum total contract amount. 
  3. Select Save.
Review Releases tab

After this, to create the voucher,  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.  

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.

  1. Process complete.

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