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.
  1. Sign in as Match Specialist and select Manage Invoices.
  2. Open an invoice record.
  3. On the Pay Schedule tab, click Create.
  4. 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.
  5. Click Save.