|
Making
Scheduled Payments in A/R
(available only on Great Plains for MSSQL)
Scheduled payments can be
created for vendors who bill on an installment basis. The feature allows
you to create payment schedules, calculate interest and amortization
amounts, or perform “what-if” scenarios to determine the impact of
various interest rates, payment amounts, frequency and installment
number changes.
To enter a Scheduled Payment:
(Transactions - Sales -
Scheduled payments)
- Enter a Schedule Number and
description. The next number defaults from Setup | Sales |
Receivables Management Setup.
- Choose a Posted Sales invoice for
Original Document Number. Amount Remaining on the document
must be greater than 0.00.
- Enter Posting Accounts. The
accounts receivable account will default from the original sales
invoice.
- Enter your ‘what-if’ information,
such as interest rate and number of payments, or calculated payment
amount. Click Calculate. You can view the amortization
schedule as well.
- Post the scheduled payment. This
will automatically create a credit memo and apply it to your
original invoice.
To Post individual Scheduled
Payments:
(Routines - Sales - Post
Scheduled Payments)
You will need to post the individual
scheduled payments from this window as they become due. For
example, if you choose the number of payments to be 12 before posting
the scheduled payment document, you will see 12 individual documents
here.
- Mark the checkbox for the payment you
would like to post.
- This will create a Sales Invoice
document. At this time, you can apply customer cash receipts
or payments to the invoice.
- The next time a payment becomes due,
you will need to enter this window again and post the individual
scheduled payment which in turn creates a sales invoice.
Naming convention for Scheduled
Payment Documents (an example):
Scheduled Payment Document:
SCHPY0000000000003
Individual Scheduled Payments (or
invoices):
SCHPY0000000000003001,
SCHPY0000000000003002, SCHPY0000000000003003, etc.
|
