is it possible to put more that one payment term on a receivable? also, can specific dates be entered into the terms instead of the usual 10/30/60? for example, we have invoices in which a 50% deposit is due by a specific date and the full amount is due by another specific date. right now we have to manually filter through the statements. our only payment terms currently set up are for 30 days.
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Scheduled Payment is available for AP. For AR, you can create a own Payment Terms(Due dates like 1,2,3,etc.,) and assign this to customer(To create a Payment Terms, go to Tools-->Setup-->Company-->Payment Terms).
After you received 50% of first payment, go to Edit Receivables Transactions (Transactions-->Sales-->Edit Transaction Information) window to change the Due Date for the document and print the invoice then send it to customer with new due date of remaining 50% amount.
Hope this helps!!!
You should also take a look at Scheduled Payment's which is available for A/P. You would just have to add a routine to release the payment into A/P. You book the total amount and then can take into Schedule Payments and break out the dates for payment. Here is an article on Scheduled Payments:
community.dynamics.com/.../weekly-dynamic-58-payables-scheduled-payments.aspx
You can use the Schedulement installment module. There you can set up different installments for breaking up the amount. This module will issue an internal doc applying the invoice and then issue one new rm document for each installment. each having different dates in the future. Hope this help.
Regards,
Martin
In Dynamics GP, one payment terms is available for one invoice, on which the due date on the "whole" document amount is calculated. I have seen few clients requiring the same needs, which is setting multiple payment terms for the same customer invoice.
The only work around solution is to update the due date for the invoice on a periodic base after the first payment is made. For instance, suppose you have an invoice with document amount ($ 5000), the required payment terms is (30 days for $ 2000), and ( 60 days for the remaining $ 3000), In order to work this out, you set the payment terms as (30 days) on the invoice. Once the first payment is made after 30 days, you manually change the due date on the invoice level to be set to 60 days.
Please never hesitate to share any further inquiries,
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