Prepaid Field, Service Contract Template Table
Specifies that this service contract is prepaid.
When you invoice the contract, the program inserts service ledger entries for each month of the invoice period. When you post the invoice for the prepaid contract, the program transfers the payment amounts to the prepaid account. Then, you post prepaid contract ledger entries every month to the income account, and the program creates additional service ledger entries.
When you post an invoice for a non-prepaid contract, the program transfers the payment amounts directly to the income account and creates additional service ledger entries.
If the service contract is prepaid, you invoice the bill-to customer for the service contract at the beginning of each invoice period. If the contract is not prepaid, you invoice the bill-to customer at the end of each invoice period.
This field is disabled if you have selected the check box in the Prepaid field.
Tip
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Parent Tables
| Table | Location |
|---|---|
| Service Contract Template Table | Service Management |
| Service Contract Template Table | Service Management |