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. 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 page.

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.

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.

Pages

Customer Invoice
Instant Invoice
Manual Customer Invoices
Outgoing Supplier Invoice

Activity Diagrams

Manual Customer Invoice
Instant Invoice