Background: Fixed Expense Maintenance

Use the Fixed Expense Maintenance (NFM) program to enter, change, copy, and delete a fixed expense. Use the Fixed Expense Processing (NFP) program to release the current month's fixed expenses to the AP Invoice Register. See Road Map for work flow.

This topic has these subtopics:

Automatic Payments
Audit Trail

Automatic Payments

You can set up payments for fixed expenses, like rent and interest. Schedule expenses to process them weekly, semi-monthly, monthly, quarterly, semi-annually, or annually. However, you cannot assign fixed expenses to a vendor that is not on file ( [***] ).

The most common types of fixed expenses are rental payments, fixed debt payments, and loan payments. You define a frequency for these expenses in the Fixed Expense Maintenance program. This frequency determines how the program releases expenses as AP transactions. Use these codes to apply the frequency:

Note
For semi-monthly frequency, the first due date must be on the first or second day of the month. You can place all other due dates within the 1st through the 28th day of the month. This due date restriction guarantees the same payment date each cycle.

The Fixed Expense Maintenance program allows you to change dates, the payment amount, and accounts. However, you cannot change the vendor number or contract number for a fixed expense. If these change, you must delete the existing fixed expense, and enter a record for the new vendor and contract number.

If an expense has a maximum value (for example, a loan or contract for a fixed amount), enter the total amount in the Orig balance field. When Pmts to date reach this balance, the system no longer processes a fixed expense. For example, suppose a contract is for 1000.00 and each payment is 100.00. When payments have been processed three times, the balance is 700.00. When payments have been processed ten times, the contract is completed.

Audit Trail

To activate an audit trail, select one of the files listed below in the Audit Trail Maintenance (XAT) program. The system records all transactions. You can then run the Audit Trails (ATR) program and select that file to print a report of these transactions.

• N3H: Fixed Expenses Header

• N3D: Fixed Expenses Detail

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