Payment schedules

Infor LN FP2

In Infor LN FP2, you can define a payment schedule for the terms of payment. To define a different payment schedule, you must define new terms of payment. The discount days and discount percentages are part of the terms of payment. The payment period of each line of a payment schedule must exceed the payment period of the previous line.

For invoices to which a payment schedule is attached, the aging analysis is based on the planned payment date.

Infor LN FP3

In Infor LN FP3, you can define payment schedules independently of the terms of payment, and you can re-use a payment schedule for several terms of payment.

Payment schedules consist of a payment schedule header and payment schedule lines. The payment schedule header defines whether the payment amounts are specified as a percentage or through a factor, and the payment period type, which can be Days, Months, or Fiscal Periods.

The payment schedule lines define a part of the invoice amount to be paid within a specific period. For each schedule line, you can define three discount periods and discount percentages. The payment schedule lines are independent of each other. You can specify a separate payment method or receipt method for each line. For every line of the payment schedule, LN uses the due date calculation defined for the terms of payment to which you link the payment schedule. Several payment schedule lines can have the same due date.

You link payment schedules to sales invoices through the terms of payment. If a payment schedule is linked to an invoice, the schedule lines take the place of the invoice, for example, for payment advice and direct debit advice, open entry balances, aging analysis, blocking codes, and to write off currency differences.

In Invoicing, LN prints the payment schedule on invoices and draft invoices to inform the business partner of the due dates and discount conditions.

The following functionality has not changed

In the Accounts Receivable and Accounts Payable modules, you can view the resulting payment schedule lines of the individual invoices in the following sessions:

  • Receipt Schedules (tfacr1103m000)
  • Payment Schedule (tfacp1103m000)

Changed and new sessions

To support payment schedules, the following changes were made:

  • Payment Terms (tcmcs0113s000)

    On the appropriate menu, you can click Schedules. This command starts the new Payment Schedules (tcmcs2620m000) session, which you can use to define a payment schedule.

    Alternatively, in the new Payment Schedule Header field, you can select an existing payment schedule for the terms of payment.

  • Company Parameters (tfgld0103s000)

    The Schedules Mandatory check box was added. If this check box is selected, you must link terms of payment with a payment schedule to every invoice.

    If this check box is cleared, using payment schedules is optional.

  • Bank Transactions (tfcmg2100s000)
    A schedule line segment was added to the Invoice field. If a payment schedule is linked to the invoice, this field contains the schedule line number.
  • Accounts Receivable and Accounts Payable

    The following changes were made:

    • The Assign Invoices/Schedules to Credit Notes (tfacp2121s000) session was changed so that in addition to invoices, you can assign payment schedule lines to credit notes.

    • On the appropriate menu of the Assign Credit Notes to Invoices (tfacr2121m000) and the Assign Credit Notes to Invoices (tfacr2121m000) sessions, you can start the following new sessions to link payment schedule lines to credit notes:

      • Link Credit Notes to Schedules (tfacr2122m000)
      • Assign Invoices Schedules to Credit Notes (tfacp2122s000)
  • In many sessions in the Accounts Receivable, Accounts Payable, and Cash Management modules for which this is relevant, the payment schedule line number field was added to the document identification fields (Transaction Type/Serial Number).
Note

LN also supports payment schedules for recurring invoices.

LN does not support payment schedules for subcontracting invoices.

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