Third-Party Payment Date Options
Use time definitions when a third-party payee wants payment on a date that's different from the employee payment date.
A time definition is either a date or a span of time. For example, employee payroll payments are on the last day of the month, whereas third-party payments are five days later. Create a time definition to define the time span and selectthis definition while defining the payment method for this payee.
Use the Time Definitions task to create your time definition for a time span of 5 days with values in this table.
Field |
Value |
---|---|
Name |
Specify a name: Third Party 5 Days |
Short Name |
Specify a short name: TP5Days |
Type |
Specify a type: Time Span |
Period Type |
Specify a period type: Daily |
Period Unit |
Specify the unit: 5 |
Adjustment Type |
Specify type of adjustment: Days |
Time Span Usages |
Specify a usage for the time span: Third-Party Payments |
Use the Time Definition field on the Third-Party Payment Methods page to assign this time definition.
Run the Generate Payments for Employees and Third Parties process twice, one for the employees and one for the third-party payees. Select the relevant process end date and enter an overriding payment date.