Vendor Maintain Transaction Entry - Split Scheduled Payments field descriptions

Fields are presented in alphabetical order.

Amount

The amount of the invoice.

Days

Days refers to the number of days between each payment. The default value is 30 but you can change it. This is the most common number of days between payments. The due dates of the scheduled payments are determined based on this number.

You can also set the Days field to zero. This would be used if part of a scheduled payment is disputed; you can split the disputed amount into its own scheduled payment and set the Days to zero. The Days field determines the due date. In this case, the disputed amount is actually due now, not in the future. You are simply holding it for a temporary period of time. After the amount is no longer disputed, it is generally due immediately.

Due Date

The due date from the original scheduled payment is displayed. The due dates of the new scheduled payments may vary from the due date of the original scheduled payment.

Invoice

The invoice number of the line you selected.

Invoice Date

You cannot change the invoice date. When you entered the invoice in Vendor Transaction Entry, you assigned an invoice date to the transaction. The due date and discount date were calculated from the invoice date.

Payments

The default number of payments is 2 because a scheduled payment is always split into at least two new scheduled payments. The number of payments can be overridden but must be greater than zero. The system equally splits the payment and discount amounts by the number you specify here and displays each on the Manual Split Scheduled Payment window.