Modify Installment Plan and Discounts

Explanation

This activity is used to viewing, adding, changing, and deleting  installments and cash discounts. When an invoice is created, the installment plan and discounts are automatically generated according to payment terms for the specific invoice.

If the invoice is to be paid fully in one payment, only one installment should be created. If the invoice is to be partially paid in several steps, multiple installments should be created. Each installments describes when the partial payment is expected. You can edit the due dates if the invoice is not paid. You can specify the Interest and fine information applicable to each installment line by opening the Interest and Fine dialog box. Interest and fine applies to installments upon the delay of payments. The suggested default rates are automatically generated from the interest template specified for the customer in the Customer window.

For each installment, cash discounts can be entered. Cash discounts allow the deduction of the specified amount from the payment amount if the invoice is paid earlier than the due date on installment. More than one cash discount can be specified for each installment.

Installments can be modified, as long as the installments are not fully paid. If the first installment is only for the tax amount of the payment or the entire tax amount related to the full invoice, you can edit the installment only if you increase the installment payment (thus ensuring that the tax amount will be paid with the installment).

Cash discounts can be modified, as long as the installments are not fully paid.

It is possible to enter, modify and delete the cash account for each installment. The default cash account for the customer or the company will appear in the installment line.

For regular customers you can connect a payment method and a payment address ID to an installment, if a specific payment method and/or payment address shall be used in a customer payment proposal (e.g. for direct debiting or repayments). For a one-time customer, payment method and address ID can only be connected in the One-Time Specific Information dialog box.

Prerequisites

In order to perform this activity, the invoice should be saved.

System Effects

As a result of this activity:

• The installments and cash discounts will be considered when paying the invoice. Each payment transaction will refer to the installment. When installment payments that qualify for cash discounts are entered, the system will suggest using that cash discount.
• The cash account information will be saved for the invoice and will be printed on the invoice.
• The payment method connected to an installment is included in the choice of payment methods when a customer payment proposal is loaded. Both payment method and payment address ID from the installment are suggested, when the installment is included in a payment proposal.

Window

Instant Invoice
Customer Invoice
Outgoing Supplier Invoice

Related Window Descriptions

Instant Invoice
Instant Invoice/Installment Plan and Discounts
Customer Invoice
Customer Invoice/Installment Plan and Discounts
Outgoing Supplier Invoice
Outgoing Supplier Invoice Installment Plan and Discounts

Procedure

To view installment plan and discounts:

1. Open the Instant Invoice or the Customer Invoice window and use the Search or Populate function to find the required invoice.
2. Click the Installment Plan and Discounts tab.
3. View the installment plan, cash account information, payment method and/or payment address and do any modifications if required.
4. Right-click a selected installment line and click Interest and Fine to open the Interest and Fine dialog box. Specify interest and fine information.
5. View and modify discounts in the lower table.

To view and modify installment plans and discounts for an outgoing supplier invoice:

1. Open the Outgoing Supplier Invoice window and use the Search or Populate function to find the required invoice.
2. Right-click and then click Installment Plan and Discounts to open the Outgoing Supplier Invoice Installment Plan and Discounts dialog box.
3. Do the required modifications to the information displayed and click OK.