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Define Terms of Payment for Installment Payments

In this step you can determine whether an invoice amount is to be divided into partial amounts with different due dates. For these terms of holdback/retainage payment, you must determine the amount of the holdback/retainage in percent and the terms of payment for each holdback/retainage payment. If you then post an invoice with terms of holdback/retainage payment, the system generates the corresponding number of line items due to your specifications for the holdback/retainage.

Requirements

You make your specifications under a particular terms of payment key. You have already defined this previously in the step "Maintain terms of payment" as well as set the "Holdback/retainage payment" indicator under the payment conditions.

Activities

1. Define your partial amounts in percent for each terms of payment key affected. Make sure that you number the individual partial amounts consecutively.
2. Ensure that the key is entered in the vendor master record which represents the specified terms of payment.