Entering Prepaid Vouchers Online
This section discusses how to create prepaid vouchers and set batch prepayment processing options. It also discusses how to specify VAT and withholding on prepayments and schedule and record prepayments.
Note: You can also enter and apply prepayments using the Quick Invoice Entry component (VCHR_QUICK_PNL).
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
VCHR_EXPRESS1 |
Create a prepaid voucher. |
|
|
VCHR_STATUS_IA |
Set batch processing options for prepayments and withholding. |
|
|
VCHR_PAYMENT_PNL |
Schedule and record prepayments. |
Use the Invoice Information page (VCHR_EXPRESS1) to create a prepaid voucher.
Navigation:
Select the Prepaid Voucher voucher style on the Add a New Value page before accessing the Invoice Information page.
When you select a voucher style of Prepaid Voucher, the Invoice Information page looks different than it does when you select Regular Voucher. The fields that differ are:
Field or Control |
Description |
|---|---|
Pay Terms |
Override the payment terms, but only single payment terms with no discount are allowed. The payment terms code appears by default from the PeopleSoft Payables business unit. The payment term is validated when you click Refresh or Save. |
Invoice Date |
Displays the invoice date associated with the voucher that you select. Enter an Invoice Date if the field is blank. Invoice Date is a mandatory field and is required even for incomplete vouchers. |
Misc. Amount (miscellaneous amount), Freight Amount, and Sales Tax |
For prepaid vouchers, the nonmerchandise charges (freight, miscellaneous charges, and taxes) do not appear. |
(USF) Advance Payment Option |
Select Use Advance Payment in the Advance Payment Option group box. If you are creating a prepayment voucher and you are a U.S. Federal agency with Enable Federal Payments field selected on the Installation Options - Payables page, the Advance Payment Option group box appears. Note: The Voucher component (VCHR_EXPRESS) does not copy lines from the associated purchase order when you enter the purchase order number here. Purchase order business unit and purchase order ID are used as a verification step only when creating an advance payment. |
Account |
Override the account with any valid account. For prepaid vouchers, the account in the distribution line appears by default from the Prepaid Expense field on the Accounting Entry Template page. |
Note: Prepaid vouchers can contain only a single voucher line and a single distribution line. The ability to insert and delete voucher lines and distribution lines is disabled for prepaid vouchers.
Use the Voucher Attributes page (VCHR_STATUS_IA) to set batch processing options for prepayments and withholding.
Navigation:
You establish the processing options for the AP Prepayment Application process in the Prepayment group box on the Voucher Attributes Page. The two options are:
Field or Control |
Description |
|---|---|
Prepayment Reference |
Enter the reference number on both the prepaid voucher and the unapplied voucher so the system can match them. This is a free-form (10-character) field used to match up prepaid vouchers with unapplied vouchers. |
Automatically Apply Prepayment |
Select this check box to enable the system to apply unapplied vouchers to prepayments automatically during the Voucher Posting process. |
These fields work together to determine whether the prepayment is to be applied to a specific voucher and whether it can be applied automatically to any other open voucher for that supplier.
Note: You can also apply the regular vouchers and prepaid vouchers manually using the Apply Vouchers to Prepayment page. Changes made on this page are updated in the VCHR_PPAY_XREF record immediately.
Batch Prepayment Application Process Logic
The AP Prepayment Application process applies prepaid vouchers and regular vouchers to each other using the Prepayment Reference field first, and then using the auto-apply (automatically apply prepayment) feature. The Prepayment Reference field and the Automatically Apply Prepayment check box can be used for both prepaid vouchers and regular vouchers. How they function depends on the voucher type.
On prepaid vouchers, the Automatically Apply Prepayment check box is selected by default and is unavailable for entry. Once you enter a prepayment reference, the Automatically Apply Prepayment check box becomes available for entry and is deselected. You now have the option to select the Automatically Apply Prepayment check box, or to leave it deselected. If you do not use the Prepayment Reference field to match prepayments and regular vouchers, the system uses the auto-apply feature.
For regular vouchers, the Automatically Apply Prepayment check box is selected by default and is available for entry. You can enter a prepayment reference and select the Automatically Apply Prepayment check box or deselect the Automatically Apply Prepayment check box. By leaving the prepayment reference blank and deselecting the Automatically Apply Prepayment check box, you can set the regular voucher to be ignored by the auto-apply feature, in which case, no prepaid vouchers are applied to it.
Prepaid and regular vouchers can have one of these possible combinations of settings for these fields. The following table lists these combinations from most to least restrictive and shows how the system applies regular vouchers and prepayments for each one:
|
Prepayment Reference |
Automatically Apply Prepayment Check Box |
Prepayment Rule Applied |
|---|---|---|
|
Entered |
Deselected |
The system applies prepayments only where the prepayment reference on the prepaid voucher is equal to the prepayment reference on the unapplied voucher. |
|
Entered |
Selected |
The system first applies prepayments where the prepayment reference on the prepaid voucher is equal to the prepayment reference on the unapplied voucher. If no matches exist, if there is a remaining prepayment to be applied, or if there are remaining unapplied voucher amounts, the system applies prepayments automatically. |
|
Blank |
Selected |
The system applies prepayments to unapplied vouchers automatically. |
|
Blank |
Blank |
This option can only be used for regular vouchers. The system does not apply the regular voucher to any prepayments. |
Use the Voucher Attributes page (VCHR_STATUS_IA) to set batch processing options for prepayments and withholding.
Navigation:
VAT and withholding work much the same way with prepaid vouchers as they do with regular vouchers with a few exceptions.
Withholding on Prepayments
You can postpone the withholding on a prepaid voucher by selecting the Postpone Withholding check box in the Prepayment group box on the Voucher Attributes page.
Field or Control |
Description |
|---|---|
Postpone Withholding |
Select to postpone withholding until you process the final invoice. This field is also stored on the PS_VCHR_PPAY_XREF table. If withholding is postponed (that is, withholding does not occur on the prepaid voucher), withholding occurs on the regular voucher using the total of the regular schedule rows and the related applied rows. If withholding is not postponed, (that is, if withholding occurs on the prepaid voucher) when the regular voucher is processed, only the non-applied rows are used as a basis for withholding. |
Note: When there is withholding on a prepaid voucher (that is, when withholding is not postponed), the full gross amount of the prepaid voucher (not the amount of the payment to the supplier) is available for application to regular vouchers.
VAT on Prepayments
The accounting entries for prepayments also differ when they involve VAT. When the applied regular voucher is posted, all of the accounting entries for the associated prepayment vouchers are reversed, including the VAT accounting entries.
Use the Voucher - Payments page (VCHR_PAYMENT_PNL) to schedule and record prepayments.
Navigation:
PeopleSoft Payables treats prepaid vouchers like regular vouchers with some slight modifications with respect to payments. Schedule payments for prepaid vouchers using the Payments page, and then the Pay Cycle process picks up the scheduled payment and generates an actual check.
You can also record payments for prepaid vouchers using the Payments page. Use the record payment feature to record checks that were processed outside PeopleSoft Payables.
To schedule the payment for a prepayment:
Enter a prepaid voucher for 1000.00 USD using a unique prepayment reference number in the Prepayment Reference field.
Run the Pay Cycle process and the system produces a check that you can mail to the supplier.
Receive a final voucher for 2001.00 USD.
Enter a regular voucher using the same prepayment reference number that you used on the prepaid voucher.
When you run the Voucher Posting process, it automatically calls the AP Prepayment Application process which applies the two vouchers to one another.
Run the Pay Cycle process to create a second check for 1001.00 USD.
Note: You can also manually apply the vouchers, and the Pay Cycle process creates the second check.
To record the payment for a prepayment
Write a check and give it to the supplier.
(Assume a supplier needs a check for a deposit of 1000.00 USD immediately).
Enter a prepaid voucher.
On the Payments page, change the value in the Action field to Record, and enter the check number of the manual check.
Enter the final voucher when it comes in, and if you are using the Prepayment Reference field, the AP Prepayment Application process applies the two vouchers to each other during the Voucher Posting process.
The system issues a check to the supplier for the remainder amount when you run the Pay Cycle process.
Fields that Differ on the Payments Page
Field or Control |
Description |
|---|---|
Prepayment |
Click this link to access the Apply Vouchers to Prepayment page. You can search for and apply eligible regular vouchers to a prepaid voucher. The link is enabled after the voucher is posted. |
Discount |
Discounts are not permitted on the payment for a prepaid voucher, so the Discount, Net Due, and Discount Due fields are unavailable for entry when you are entering a prepaid voucher. |
Note: Prepaid vouchers can only be paid with a single payment. The ability to insert and delete payments is disabled for prepaid vouchers. Also note that prepaid vouchers cannot be paid with an express payment.