Creating a pay schedule
You can create or maintain
a payment schedule for an unreleased invoice. Use payment schedules to pay off an
invoice in a select number of payments. A payment schedule is automatically created
based on the schedule frequency that you select.
- Sign in as Match Specialist and select Manage Invoices.
- Open an invoice record.
- On the Pay Schedule tab, click Create.
-
Specify this information:
- Due Date
- Specify the invoice payment due date. This date is used by Cash Requirements or Bill of Exchange Generation to select the invoice for payment.
- Payment Amount
- Specify the invoice payment amount. Verify that the total payments applied equals the total invoice amount.
- Payment Code
- Select a valid payment code for the invoice. The payment code represents a type of cash payment. It must be a valid cash or Bill of Exchange payment transaction code in Cash. If this field is blank, then the payment code that is assigned to remit to location, vendor, vendor class, or pay group is used.
- Cash Code
- Select a valid cash code for the invoice payment. The cash code
represents a bank account. If this field is blank, then the cash
code that is assigned to one of these is the default:
- the remit to location
- vendor
- vendor class
- process level
- company
- pay group
- Separate Payment
- Select whether this invoice requires a separate payment.
- Pay Immediately
- Select whether this invoice requires an immediate payment.
- Enclosure
- Select whether this invoice requires an enclosure.
- Invoice Group
- You can assign a user-defined invoice group to the invoice payment. If this field is blank, then the invoice group that is assigned to the remit to location or vendor is used.
- Hold Code
- Specify the hold code.
- Income Code
- Specify the income code.
- Reportable Income Amount
- Specify the portion of the invoice amount that is eligible for discount. This amount is used to calculate the discount amount based on the discount rate. If this field is blank, then the Discount payment amount is used.
- Discount Date
- Specify the last date the invoice is eligible for discount. This date is used by Cash Requirements to determine whether to take an invoice discount.
- Discount Amount
- Specify the discount amount of the invoice payment. To automatically calculate this amount, leave this field blank and specify values in the Discount Rate and Allowable fields.
- Anticipation
- Specify the anticipation discount rate. This rate is the percentage that is used to calculate the discount amount.
- Click Save.