Prepayment Transaction Type Selection When Submitting Awards

Specify prepayment transaction type when submitting contract from award. This prepayment transaction type is then used for prepayment request invoices generated for the award and sent to Receivables.

The new prepayment transaction type attribute can optionally be entered by a grants administrator in the Update Contract dialog box, as highlighted in the screenshot below. The prepayment transaction type list of values displays all the active Receivables invoice transaction types that have a transaction subclass of 'Prepayment'. 

The prepayment transaction type attribute is also supported in the Award REST API and the Import Awards File-Based Data Import (FBDI).

Prepayment Transaction Type

The prepayment transaction type entered on the award is used for prepayment invoices generated for the award and processed to Receivables. In the case of cancelled prepayment invoices resulting in credit memos, the credit memo type associated with the prepayment transaction type is sent to Receivables.

The prepayment transaction type attribute is also displayed in the billing details section of the award, as highlighted in the screenshot below.

Contract Summary

The business benefit of this feature is improved flexibility and control over how project contract prepayment invoices are handled by Receivables, through the ability to assign user-defined prepayment transaction types to awards.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

• The transaction type set assigned to the prepayment transaction type should be identical to the set assigned to the Receivables transaction type reference data object at the business unit level.

            

Receivables Transaction Type Setup

Business Unit Set Assignment

• If a prepayment transaction type isn't selected on the award, the predefined prepayment transaction type 'ORA_PA_Prepayment' is used for prepayment invoices.

Key Resources

• Please refer to the following previously released features for related information:
  • Advanced Project Contract Prepayment Billing (25A).
  • Project Contract Prepayment Billing (24D).
  • Automation of Invoicing and Receipt Applications for Advance Payments (24B, Receivables).

Access Requirements

No new access requirements.