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Use this form to create payment schedules, which you can use to schedule installment payments from customers and to vendors. For example, when you enter an invoice for a customer, you can select a payment schedule that you set up in this form for customer payments. When you enter an invoice for a vendor, you can select a payment schedule that you set up for vendor payments.

The amount and due date for each payment is based on the settings for a payment schedule.

Example

To set up a payment schedule that will be paid with equal payments every month for 12 months, you can enter the following information:

  • : 12 months

  • : Pay with equal payments over 12 months

  • :

  • :

  • : 1

  • : 12

Tasks that use this form

Navigating the form

The following tables provide descriptions for the controls in this form.

Tabs

Tab

Description

Overview tab

Create a new payment schedule with a name and description, and view all payment schedules.

A payment schedule consists of consecutive payments in set time intervals.

General tab

Enter or view the details of the payment schedule that is selected on the tab.

Note Note

Use the form to attach a payment schedule to a terms of payment that includes the due date of the first installment. The due dates of subsequent installments are calculated on the basis of the information that you enter on this tab.

Enter or view the amounts or percentages of the total amounts that are due for each installment of the selected payment schedule.

The periodic payments can be equal or varying amounts or percentages.

Create or modify an internal note about the selected payment schedule.

Fields

Field

Description

Enter a code or a brief description to identify the payment schedule.

Enter a description of the payment schedule.

Select the way that payments are allocated within the payment schedule.

  • – Total amount outstanding when the invoice is due.

  • – A specific, fixed amount is due for each payment on the calculated payment dates.

  • – Payment of the total amount is divided into a fixed quantity of payments.

  • – A specified amount is due on each of the specified payment dates. Define the payment schedule lines and amounts on the tab.

Select the date interval in days, months, or years to use when calculating the due date of each installment.

Enter the number of units between the due dates of each installment in the field.

This field is available only if you selected or in the field.

If you selected the option in the field, specify the number of installments for the payment schedule.

If you selected the option in the field, specify the currency amount of each installment.

Specify the minimum installment amount. Minimum amounts override calculated payment amounts.

Select a method to distribute the sales tax amount to the payment schedule installments.

  • - The sales tax amount is distributed evenly, with the same tax amount on each installment.

  • - The total sales tax amount is included in the first installment.

  • - The total sales tax amount is included in the last installment.

If you selected in the field, the number of days, months, or years after the due date that is defined by the terms of payment for the invoice is indicated here.

Create a line for each installment.

  • In the first line, enter the number of days, months, or years that is specified in the field.

  • For the remaining lines, enter the number of days, months, or years between the due dates of the preceding installment and the current installment.

Enter the value of the installment as a percentage of the amount invoiced or as a currency amount, depending on your selection in the field.

Indicate whether the value entered is a percentage or a specific amount.

Enter a note that explains how and when to use the payment schedule. The note is optional and is for internal use only.

See Also