Setting up scheduled payments

Scheduled Payments allows transaction lines to be automatically split according to a schedule of percentages and date information that you can configure and assign to a customer or supplier.

This topic describes the options you configure in Scheduled Payments Setup (SCH), available from SunSystems. When you have completed the Scheduled Payments Setup form, select Action > Instalment Lines Setup. Information is then created automatically, the details of which are displayed and can be modified in the Instalment Lines Setup form.

In order to use your scheduled payments record, you must attach it to a payment terms group record which must then be attached to a customer or supplier record.

Specify how you want qualifying transactions to be split during ledger entry and ledger import:
Scheduled Payment Code
The code identifying a Scheduled Payment record. This is the code that must be subsequently identified on the payment terms group in Payment Terms (PYT).
Description
The full name or description of the data item or record. This is used to identify it on reports and inquiries.
Short Heading
The short heading, which is used where space is limited. If this is blank it defaults to the first characters of the description.
Lookup Code
A lookup code can be used to find a record, as an alternative to the record code. It is often set to a shortened version of the description. It is particularly useful if a record is often referred to using different codes. For example, the Chart of Accounts code for Fuel Expenses is 75201 and the Lookup Code is set to FUELEXP.
Minimum Amount For Splitting
This determines a minimum amount to be split. You can use this to prevent immaterial amounts from being split out into instalments. Leave this blank if you want all amounts to be split regardless of how small.
Tax Treatment
This determines how automatically generated tax is treated within the split lines. The options are:
  • Apply Against First - add all calculated tax to the first instalment of the generated split
  • Apply Against Last - add all calculated tax to the last instalment of the generated split
  • Apply Against All- split the calculated tax equally across all instalments. This is the default option.
Note:  Tax Treatment is only used in Ledger Entry, as the automatic tax generation facility is not available in Ledger Import.
LE/LI Applicable
Determines whether this Scheduled Payments record will be used to split transactions depending on which ledger posting process is being used. The available options are:
  • LE Only - transactions relevant to this Scheduled Payments record can only be split in Ledger Entry (LEN)
  • LI Only - transactions relevant to this record can only be split in Ledger Import (LIM)
  • Both LE & LI - transactions relevant to this record can be split in Ledger Entry and Ledger Import
  • Neither - transactions relevant to this record cannot be split, regardless of the other options selected on this form.
Split Memo Amounts
Set this option if you want any memo amounts to be split in the instalment lines. This option is only available if the memo value has been defined in Business Unit Setup. The default is for memo amounts not to be split.
Number of Instalment Lines
This determines the number of instalment lines to be generated when a transaction is split. The maximum number possible is 60.
Time Units
This determines the unit of measure for time when calculating the due dates on each of the separate instalment lines. You can select Days, Months, or Years; the default is days.
Time Interval
This determines the intervals of Time Units (Days, Months, or Years, as described above) by which the instalments must be split. For example, if you select Days as the Time Unit, 30 as the Time Interval, and 3 as the Number of Instalment Lines then instalments will be due on 30, 60, and 90 days after the base date. Individual instalments can be subsequently changed in the Instalment Setup Lines form.
The Number of Instalment Lines multiplied by the Time Interval determines the Instalment Term on the final line. This must not exceed 999.
Regardless of the options you select for Time Units and Time Interval, the due date is always calculated as a date on each instalment line relative to the base date on the originating transaction line, and not relative to the other instalment lines. This allows the time for an individual instalment to be adjusted without affecting the other instalment lines.
Rounding Amounts
This determines how a rounding amount is treated in the split. The options are:
  • First - rounding amounts are added to first instalment
  • Last - rounding amounts are added to last instalment. This is the default option.