Payment and Billing Terms Maintenance

Description

A new maintenance area called Pay/Bill Terms has been added to facilitate the creation and maintenance of payment and billing terms.

Payment terms is a new concept in this release and have been added to cater for payment of contractor timesheets according to payment terms. For more information, see Contractor Payment Terms.

Billing terms (also known as invoice terms) were previously maintained under Billing > Maintenance > Invoice Terms and have now been moved to a centralised maintenance area combined with pay terms maintenance.

Benefits

This enhancement centralises the maintenance of payment and billing terms in one logical location within the system. The introduction of payment terms also supports the introduction of the ability to pay contractors according to payment terms that are negotiated between a contractor and an agency (for more information, see Contractor Payment Terms).

Configuration

On upgrade each set of invoice terms that previously existed under Billing > Maintenance > Invoice Terms are moved to Maintenance > Pay/Bill Terms and are assigned a terms type of Bill. For more information about how those existing terms can be maintained and how new payment and billing terms can be created, see Terms Maintenance.

The following new user security role permission, which is configured under Maintenance > Role-Data Groups, controls access to Maintenance > Terms Maintenance: