Billing: Installment Plan
Description
In Release 3.0, it is possible to process installment payments in the system.
A payment terms key is defined in Customizing. The following data is specified for this key:
- the number of installment payments; this is defined using a serial number
- the payment dates; a payment condition is assigned to the terms of payment key for each installment payment. These payment conditions specify the payment dates.
- a percentage rate of the invoice value
Example:
The payment terms key can be stored, as before, in the customer master record or be entered in the order header or order item:
- In the customer master record:
- In the sales order:
In the sales order, an appropriate text can be printed using the payment terms key for order confirmation.
A billing document is created; the individual payment dates are then printed on the invoice with the precise amounts. The corresponding percentage rate is calculated from the invoice value for every payment date. Rounding differences are taken into account for the last payment date.
A separate customer line item is created in FI for every installment payment.
Change system parameters in customizing
Additional information on the settings for this function can be found in the Implementation Guide in the following sections:
"Define terms of payment"