Description
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A proforma remittance can be generated and issued to the contractor when their timesheet is approved and has undergone interpretation as an interim indication of what the contractor will be paid once the payment terms due date is reached and the timesheet is paid. For more information, see Issuing Proforma Remittance Advice. |
Benefits
This enhancement allows payment to a contractor to be deferred until after the client, to whom the contractor has provided services, has paid the invoice for the service that were provided.
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Once the required pay terms have been configured in Terms Maintenance, they can also be applied as a pay company default so that when new Payee records are added for contractors, the relevant payment terms can be defaulted based on the pay company default settings.
To define the default contractor payment terms in the pay company default settings, select the relevant payment terms in the Contractor Payment Terms field on the Payroll > Maintenance > Pay Company > Edit Pay Company > Default Settings screen, as shown in the example below.
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