Enter Payment Schedule

Explanation

A payment schedule will enable you to enter the down payments and retentions connected to a purchase order that is sent to a supplier. The payment schedule lines can be connected to the relevant invoice. The down payment can be amortized when the supplier sends the invoice.

Prerequisites

A purchase order part or no part line must exist.

System Effects

• A payment schedule with down payments and retentions will be created.
• The payment schedule will be connected to the purchase order.
• Invoices will be connected to the payment schedule.

Window

Payment Schedule for Purchase Order

Related Window Descriptions

Payment Schedule for Purchase Order
Connect to Payment Schedule

Procedure

1. Open the Purchase Order window and query for the required purchase order.
2. Enter a part or no part line as required.
3. Right-click on the header part of the window and then click Payment Schedules. The Payment Schedule for Purchase Order window appears.
4. Enter a new record and define the down payment amount.
5. Release the purchase order and then you will be able to release the down payment line by selecting the Released check box for the line.
6. You can now either choose to make a direct payment in advance (through a payment window) or create an advance invoice.
7. To create an advance invoice, enter the relevant details on the Manual Supplier Invoice window. Select the Advance Invoice check box and enter the gross amount.
8. Right-click, point to Purchasing, and then click Connect to Payment Schedule to connect the invoice to the payment schedule.
9. The Connect to Payment Schedule dialog box appears. Click New and enter the order number. You can use the List of Values to select the appropriate number.
10. The matched amount can be modified in the case where you do not want to match the full amount of the down payment.
11. Click OK to save the connection.
12. You will be able to view the matched invoice line back in the lower table of the Payment Schedule for Purchase Order window.
13. Open the Mixed Payment window to enter the details to pay the invoiced amount. Once the voucher is created, you will get an information dialog box informing you of the payment.
14. Once the goods are received and the final invoice for the delivery is created, you will be able to match the invoice with the purchase order receipt.
15. On the Supplier Invoice window, right-click, point to Purchasing and then click Match with PO Receipt.
16. In the Post from Purchase Order dialog box that appears, you will see the order number selected. Click OK to match with the purchase order receipt.
17. If you have specified a retention for the payment schedule, you will need to match the retention line with the final invoice. Right-click on the invoice, point to Purchasing, and then click Connect to Payment Schedule to connect the invoice to the retention. line.
18. Since the down payment line will need to be amortized with the final invoice, right-click on the invoice window and then click Advance Invoice.
19. Select the relevant invoice to connect from the Advance Invoice Reference dialog box. You can modify the amount to be amortized if required.
20. Save the invoice.
21. In the Payment Schedule for Purchase Order window you will see the planned, matched and amortized amounts as well as the connected invoice lines.