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Requisition Cash Flow Schedule

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This function serves as an extension of the Requisition function.

A Requisition, such a Service requisition, where services, rental or leasing is involved, contains the sponsoring account or project node, the approved amount, agreement number and agreement end date.

 

This function provides functionality to:

1.        Schedule the expected cash flow (payments) by means of a breakdown of the approved amount into scheduled dates and amounts.

2.        Confirm the dates and amounts as the actual expenses occur where the amounts and dates are not fixed as may be the case for rentals or lease agreements.

3.        Exercise the option to auto-invoice re-curing payments such as rental or lease agreements, telephone- or electricity accounts.

4.        Cross-reference accounts payable invoices created via the "self-billing" concept to actual invoice numbers or statements received from the Supplier.

5.        Retain the option to have invoices created via self-billing, approved by the beneficiary of the service prior to allowing settlement of such invoices.

 

The function thus provides for the scheduling the anticipated expenditure, with the option to perform self-billing once the amounts have been confirmed.

 

It provides general inquiry features, as well as detail regarding auto-invoicing and confirmation of payment amounts and dates.

 

Built-in checks and balances exist to ensure that the cumulative scheduled amounts cannot exceed the approved value of the Requisition and that scheduled dates do not exceed the agreement end date.