Advance installment invoices

For long-term projects, such as the building of a ship, you can request prepayments from the business partner before you deliver the goods. When you send an invoice for advance payment to the business partner, the amount must be posted to a separate control account for advance installment invoices or advance receipt requests. The tax amount must be posted when the advance invoice is paid.

Infor LN FP2

In Infor LN FP2, no separate control account for advance receipt request is available, and invoiced advance installments and paid advance installments are both posted to the same ledger account.

New in Infor LN FP3

In Infor LN FP3, the following functionality was implemented for advance installment invoices:

  • Advance receipt requests control account

    For each financial business partner group, you can define separate control accounts for advance installment invoices per sales type.

    In the new Control Account (ARR Invoice) field of the Control Accounts by Business Partner Group (tfacr0515m000) session, you can select the control account for advance receipt requests. When you post advance installment invoices in Invoicing, LN posts the invoices to this account.

  • Separate ledger accounts for invoiced and paid advance receipt requests

    To distinguish invoiced advance installments and paid advance installments for reporting purposes, you can map and post invoiced advance installments and paid advance installments to separate ledger accounts.

To support separate ledger accounts, the following changes were made:

  • Company Parameters (tfgld0103s000)

    The Separate Account for Paid Advance Installments check box was added. To use separate ledger accounts for invoiced and paid advance installments, select this check box. If this check box is cleared, LN posts all advance installment invoice related transactions to the same ledger account.

  • CMG Parameters (tfcmg0100s000)

    In the new Pay ARR Before Adv.Installment field, you can select the action LN must take if the integration transactions for advance installments are not posted and you create a receipt transaction for the advance installment invoice.

  • In the Mapping Scheme (tfgld4573m000) session, you must map the new integration document types to the Paid Advance Receipt account.

    The following new integration document types were created:

    • Sales Order / Advance Installment (10002094)
    • Sales Order / Advance Installment Paid (10002093)
    • Currency Difference / Interim Revenues (50420012)
Note

You can only use separate ledger accounts for advance receipt requests for sales orders. You cannot set up advance receipt requests for project invoices or service invoices.

For the following processes, LN does not support separate ledger accounts for invoiced and paid advance installments:

Related topics