Releasing payments

When the payment is released for a contract or a purchase order, a payment release record is created. Payment can be made either for the completion of the entire contract or for providing the required products and services. Payment is made from a predetermined budget that is allotted for the purchase of materials or services.

Procedure

  1. Select Contracts > Payables > Payments > Releases and click Add.
  2. On the General tab, enter the name and other details.
  3. On the Invoices tab, associate the invoices for which payments are released.
  4. Click Create Draft.
  5. Save and issue the payment release.