Terms of Payment for Installment Payments (Accounts Payable)
Terms of Payment for Installment Payments (Accounts Payable)
Use
When you enter a key for installment payments, the text Due in is displayed as well as the Payment terms field and the Days/perc. fields remain empty.
Features
Terms of payment for installments are composed of individual
terms of payment, with one payment term for each installment. When you post an installment, the total amount is split up into individual items for each installment and each installment is calculated with the relevant payment term. For information about how to maintain terms of payment, refer to the Implementation Guide for Accounts Receivable and Accounts Payable.
Posting Installment Payments
Entering the amounts
|
Item |
PK |
Debit |
Credit |
1 |
31 |
1000.00 |
|
2 |
40 |
1000.00 |
The original vendor item is not split up and displayed in the individual installments until the posting is simulated. The original total amount is displayed as zero.
Simulating the posting
|
Item |
PK |
Debit |
Credit |
1 |
31 |
0.00 |
|
2 |
40 |
1000.00 |
|
3 |
31 |
300.00 |
|
4 |
31 |
400.00 |
|
5 |
31 |
300.00 |
When the amounts are posted, the total amount is replaced by the individual installment amounts. These amounts are displayed per G/L account item.
Document overview after posting
|
Item |
PK |
Debit |
Credit |
1 |
40 |
1000.00 |
|
2 |
31 |
300.00 |
|
2 |
31 |
400.00 |
|
3 |
31 |
300.00 |