View and define advance payments for pooling settlements
To view advance payments associated with all vendors of a pooling settlement and define the advance amount to apply per vendor, follow these steps:
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On the Settlement page, on the action bar, select Advance Payment Allocation.
The system opens the Advance Payment Allocations page and displays information about all the advance purchase invoices that were posted for the vendors related to the settlement in the following fields:
Field Description Advance Payment Type Specifies whether the advance payment is seasonal, per purchase order, or per purchase order line. Buy-from Vendor No. Specifies the number of the buy-from vendor who is to receive the advance payment. Buy-from Vendor Name Specifies the name of the buy-from vendor who is to receive the advance payment. Description Specifies description of the advance payment. Description 2 Specifies additional description of the advance payment. Remaining Balance Specifies the remaining balance of the advance payment amount. You can select this field value to open the Advance Payment Allocation Details page and view documents associated with the vendor. -
In the Amount to Apply field, enter the advance payment amount that you want to apply to each vendor before posting the settlement. This field value is editable only when the Advance Payment Type field value is set to Seasonal and must not exceed the Remaining Balance field value.
When the Advance Payment Type field value is set to Per Purchase Order or Per Purchase Order Line, the Amount to Apply field value is automatically updated and cannot be changed.
In the Summary section, you can view a summary of all advance payments in the following fields:
Field Description Advance Payment Type Specifies whether the advance payment is for a season, purchase order, or purchase order line. Pay-to Vendor No. Specifies the number of the pay-to vendor who is to receive the advance payment. Pay-to Name Specifies the name of the pay-to vendor who is to receive the advance payment. Amount Specifies the advance payment amount defined on the Create Advance Payment wizard, expressed in the currency of the associated document. Amount (LCY) Specifies the Amount field value expressed in local currency. Remaining Balance Specifies the remaining balance of the advance payment amount. You can select this field value to open the Advance Payment Allocation Details page and view documents associated with the vendor. Applied Amount Specifies the advance amount that has been applied. Applied Amount (LCY) Specifies the Applied Amount field value expressed in local currency. Currency Code Specifies the currency code associated with the advance payment.
This section is useful when there are multiple seasonal advance payments and is visible only via personalization.
When posting settlements, the system creates and posts purchase credit memos with the applied amount to reverse the advance payment amount and prevent duplicate ledger entries.