Company contractors (payees with a tax type of Company) can be paid according to payment terms. Payment terms allow the payment of contractors' timesheet to be deferred until a payment terms due date has been reached.
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an adjustment pay batch for the adjustment period into which the timesheet end date falls
a normal pay batch for a pay group that has the Include Prior Period Timesheets in Current Period option enabled (for more information, see INSERT REFERENCE).
In either case, the timesheet will not be included in the pay batch unless the payment terms dues date is within the current (open) pay period.
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the relevant payment terms must be configured in Terms Maintenance
the relevant payment terms option must be selected in the Contractor Payment Terms field in the Contractor Tax Details section of the Payee Entry screen.
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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 INSERT REFERENCE. |