AutoPayment Item

Create an Item code to trigger Autopay on recurring invoices

How your company decides to handle deferred revenue and amortization on your monthly PM contracts, will determine how you set up your automatic payment item. This item is only used for monthly recurring invoices and must be created with the Income Account as your deferred liability account if you recognize this monthly income when you perform a visit (visit-based amortization ). It must be created as an Income account if you choose to recognize this money monthly as you receive it.

NOTE: Only one Autopay item code is allowed in ServMan
Enter the Item number to use on each recurring invoice to set up on auto pay
Type can non-stock or service
Enter the description of the item
Enter the appropriate Income account number, explained above, based on your deferral and recognition rules
Set the Cost Code to Other

Create Terms Codes for PM Contract Auto Payments

From Master Files -> Miscellaneous -> Terms Code

Press add new code

Enter a Terms Code

Enter a Description that will be displayed on your orders and invoices

Press Ok to continue.

Additional Configuration Settings for PM Contract Auto Payment

On the PM Contract navigator, press the Global Settings button.
Select the Auto Payment Terms Codes for the Credit Card Auto payments and the eCheck payments.
These terms codes will be automatically entered on recurring invoices when they are created.