Assigning Multiple Payments to Invoices

You can enter invoices that will be paid by a series of payments, using a terms code that includes a multiple payment schedule (such as to make six payments over a specified period to pay a single invoice). This feature makes it easy to track the payments for each invoice.

Based on the information entered for the terms code, Accounts Payable creates a payment schedule that divides the invoice total into the specified number of payments, each with its own due date, payment amount, and discount period.

Payment information is displayed on the Payment Schedule tab of the Invoice Entry form. You can change it after you have distributed the invoice amounts.

If you want, you can print payment schedules on batch listings by selecting the Show Schedules option from the Batch Listing form.

You reference payments by payment number when you apply checks to multiple payment invoices.