Scheduled Payments

The Scheduled Payments module allows users to view all their recurring and one time payments. You can also create and post one time payments from this page. One time payments can only be added after a contract is activated and can be deleted until they are posted.

If taxes are calculated for the contract, you can also see an estimated tax amount before the payment is posted. After the payment is posted, the tax amount is updated to reflect the actual tax payment that is posted. The tax amounts are calculated per payment amount.

Note: One time payments are only posted to the main accounting standard defined for the contract in Nakisa Lease Accounting Suite.

If provisioning is enabled for the contract, users can view their provisioning amounts in the Provision Expense Spreading view.

The scheduled payments module can be viewed once the contract is approved (for streamlined IFRS 16/ASC 842 compliance only), or activated.

Scheduled payments can be posted internally through batches.

Note: Payments from legacy terms are not included in the Scheduled Payments.

To manage recurring payments:

  1. Click Main Menu > Contracts and open the required contract.
  2. Click > Scheduled Payments.
  3. Click on a row to view the details for the payment. The payment details display important information related to your payment, including the batch name and posting date if the payment is posted.
  4. Click > Manage Documents to add documents related to the payment.
    • Click to upload a document.
      • Click and select the file that you would like to upload. In the optional file information fields, note that the Document Type is only used for filtering purposes.
    • Click to attach a link.
      • Enter a Link, as well as any additional information in the optional information fields. Note that the Document Type is only used for filtering purposes.
    • Click Visible to Vendors to share this document with any associated vendors. Note that documents are only visible to vendors if the contract has been activated.
    • Click Save.

To add a one time payment:

  1. In the Scheduled Payments window, click the One Time Payment tab.
  2. Click to open the Create Charge window.
  3. Select an Activation Group to determine the currency of the charge.
  4. Enter a Charge Name.
  5. Select a Due Date for the charge. Note that the Due Date cannot be past the ROU End Date or the Last Payment Date, whichever is later.
  6. Select the Unit to which the payment applies.
  7. Select an Expense Category to which the payment applies.
  8. Enter the Amount for the payment.
  9. If there are multiple vendors associated to the contract or Generate Vendor Invoice is selected in the contract in Nakisa Lease Accounting Suite (when the application is set up as an IFRS 16/ASC 842 Compliant mode of operation), set the payment percentage for each vendor in the Payment Split section. Note that tax amounts are listed per vendor.
  10. Click Save.

To post or reverse a one time payment:

  1. In the Scheduled Payments window, click the One Time Payment tab.
  2. Click next to the payment you would like to post.
  3. Click Post.
  4. Set the following fields:
    • Document Date: Links the document to a period.
    • Posting Date: The date for the posting document.
  5. Click Post. The status changes from "Open" to "Posted".
  6. To reverse a posted one time payment, click > Reverse.
    1. Set the Document Date and Posting Date.
    2. Click Reverse. The status changes from "Posted" to "Reversed".

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