down payment request for contract with periodic billing

[Former Member]

Hi Friends,

Could anyone help me in understanding the configuration settings for down payment / advance payment senario for a CONTRACT which has Order related billing (I have done for Order with milestone billing plan).

The contract has order related *periodic billing plan* where settlement period is suppose quaterly billing and actual invoice is happening on 1st date of the quarter. But i want to create a down payment request say 10 days before the billing date[(actual invoice(F2) date] of every quater as an advance payment/ down payment.

FYI...

For order i am using standard billing rule 1 in milestone billing plan for final invoice but for downpaymnet billing dates (added additional settlement periods then actual invoice settlement period like 3 adv pay ment og 20%, 30% 50% & one actual invoice period for whole amount 100% as D4 doc only) i am manually changing the billing rule as 4 to create a down payment req.

But in contract as its has periodic billing plan no billing rule changing option (no additional settlement period can be added, only settlement period for actual invoice is getting proposed) so i can't have two different rule for a settlement period. no settlement period can be added separately for adv paymnet/down payment.

Kindly respond ASAP.

Rgds

Manish

[Former Member]

In milestone billing when you maintain the refBillingPlan no. have line item for down payment with the billing type as FAZ with the required date, percentage etc. When you do the billing for the SO a down payment request is generated (FAZ) against which FI will post the incoming down payment. In your pricing you need to have consition type AZWR which can be changed manually to indicate what amount of the down payment you want to utilize.

This is the solution in brief. If you still continue to face problems then get back

[Former Member]

Hi, Many thanks for your response.

But the down payment functionality for a SO with milestone billing i have already implemented.

The question was for CONTRACT Side (say rental / service contract). The contract has periodic billing (monthly / Q'ly).

Kindly let me know if you/anyone has any idea for config settings for a contract with the senario mentioned in previous thread post.

Thnx & Rgds

MG