Arranging Deposit Payment

Before Accounting Dept. can pay the Vendor, Purchasing Person must follow the process to make sure that all previous steps were followed.

To arrange the payment, Purchasing Person has to prepare the following:

1. Registration Agreement has to be signed by both sides;
2. Once the agreement is signed by both sides, if the deposit is refundable Purchasing Person has to create Registration Deposit in the System to record the amount payable and amount refundable, and receive the notifications for the future commercial orders when the deposit must be refunded. Detailed instructions on Registration Deposit are provided in the Registration Deposit SOP.
3. Create Bill (the total amount of the Bill must match with total deposit amount to be paid);
4. For payments in USD, inform Purchasing Dept. Manager to arrange the down payment via chat message (China) or via task (India). The message or task must contain: Vendor name, SO reference number, payment amount due with specified currency, link to PI (India). Purchasing Dept. Manager will then inform Yeny to pay the amount due.
5. If the deposit is refundable, inform Accounting Dept. the amount and the terms of refund with a separate task (Accounting Dept. must record any refundable payment).
6. For payments in RMB, send a task to Accounting Dept. directly.
7. Once payment is made, Accounting Dept. or Yeny will inform via task. Purchasing Person then needs to send bank slip to the Vendor and inform that payment was made.

Below is the process of creating Registration Deposit and Bill in the system.