About Assigning Multiple Payment Schedules to Invoices

To enter invoices that will be paid by a series of payments, you use a terms code that includes a multiple payment schedule. For example, the terms code might require six payments over a specified period to pay a single 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 appears on the Terms tab on the A/P Invoice Entry screen. You can change the payment schedule after you have distributed the invoice amounts.

You reference payments by payment number when you apply checks to multiple payment invoices. This feature makes it easy to track the payments for each invoice.

Note: You can include payment schedules on batch listings by selecting the Show Schedules option on the Batch Listing screen.

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