Modifying payment schedule

This page allows you to modify the electronic payment details and the payment schedule that has been generated based on the pay term set while creating the service invoice. Tell me more

Select the “Payment Schedule” link at the bottom of the “Create Invoice” page.

The “Payment Schedule” page appears.

The system displays the following:

Invoice #	The number identifying the service invoice.
Total Invoice Amount	The total invoice amount.
Status	The status of the invoice. It could be “Draft”, “Fresh" or “Returned”.
	Draft – indicates a newly created service invoice that cannot be authorized.
	Fresh – indicates a newly created invoice that can be authorized.
	Returned – indicates a service invoice that has been returned for modification before authorization.

Modify the following fields if required:

Discount Computation	Use the drop-down list box to set whether the discount has been calculated on the “Base Amount” or the “Gross Amount”.
	Base Amount – indicates that the discount has been calculated on the invoice amount before the addition of taxes or charges or deduction of discounts.
	Gross Amount – indicates that the discount has been calculated on the invoice amount after the addition of taxes and charges and deduction of discounts.
Pay Term	The code identifying the pay term (Alphanumeric, 15). Mandatory. This pay term must have been defined in the “Pay Term” business component and must be in “Active” status.
	Press <Enter> key.
	The system calculates and displays the payment details in the “Payment Schedule Information” multiline. The system also generates the term number in the respective field.
	Help facility available

The system displays the following:

Description	The description of the pay term.
	Zoom facility available
Currency	The code identifying the currency in which invoice has been created.
Payment Method	The method in which the payment has to be made to the supplier. It could be “Regular” or “Specific Bank”.
Pay Mode	The mode in which the payment must be made to the supplier. It could be any of the "Cash", "Demand Draft", "Check", "EFT" or "Direct Debit" pay modes that have been defined earlier.

Modify the following fields if required in the “Payment Schedule Information” mutliline:

Note: Data must be available in at least one row of the multiline.

Term No	A unique number identifying the installment that is due for payment (Alphanumeric, 20). Mandatory.
Due Date	The date on which the installment is due for payment (Date Format). Mandatory. This date must be the same or after the date on which the invoice has been created.

Note: If data is available in more than one row of the “Payment Schedule Information” multiline, the due dates for a row must be later than the date in the earlier row.

Due Amount Type	Use the drop-down list box to select the type of the amount that is due for payment from “Flat Amount” or “Percentage”.
	Flat Amount – indicates that a flat amount is payable on the due date.
	Percentage – indicates that the amount due is a percentage of the total due amount.
Due %	The percentage of the amount due on the due date (Integer). The value entered in this field must be greater than zero and lesser than 100.

Note: This field must not be left blank if “Percentage” is selected in the “Due Amount Type” field. This field must be left blank if “Flat” is selected in the “Due Amount Type” field.

Due Amount

The amount due for the installment (Decimal). The value entered in this field must be greater than zero. This field must not be left blank if “Flat Amount” is selected in the “Due Amount Type” field.

Note: If “Percentage” is selected in the “Due Amount Type” field, this due amount is calculated and displayed as the product of the percentage due and the total amount. The sum of all the due amounts in the various rows of the multiline must be equal to the total invoice amount.

The system displays the following in the “Payment Schedule Information” multiline:

Discount Computation Amount

The amount on which the discount has been calculated.

Note: If the discount computation is selected as “Gross Amount”, the system displays the due amount as the discount computation amount.

If the discount computation is set as “Base Amount” and “Percentage” has been selected in the “Due Amount Type” field the system calculates the amount on which discount is computed as the product of the percentage due for installment and the sum of all the amounts for the items invoiced, excluding the taxes, charges and discounts.

If the discount computation is set as “Base Amount” and “Flat Amount” has been selected in the “Due Amount Type” field the system displays the due amount as the discount computation amount.

Modify the following fields if required in the “Payment Schedule Information” multiline:

Discount Amount Type	Use the drop-down list box to select the type of discount amount that can be availed from “Flat Amount” or “Percentage”.
	Flat Amount – indicates that a flat amount can be deducted as discount.
	Percentage – indicates that the discount amount would be a percentage of the due amount.
Discount Date	The date on or before which the payment due must be made to avail the discount (Date Format). The date entered in this field must be earlier than the due date. The date entered in this field must be after the debit note date, the anchor date and the due date.

Note: If data is available in more than row of the “Payment Schedule Information” multiline, the discount date available in a row must be later than the date available in the earlier row.

Discount %

The percentage of the amount that can be deducted as discount (Integer). The value entered in this field must be greater than zero and lesser than 100.

Note: This field must not be left blank if “Percentage” is selected as “Discount Amount Type”.

Discount Amount

The amount that can be deducted as discount (Decimal). Mandatory. The value entered in this field must be lesser than the amount due.

Note: This field must not be left blank if “Flat Amount” is selected as “Discount Amount Type” and must be lesser than the amount available in the “Discount Computation Amount” field.

If “Discount Amount Type” is “Percentage” this amount will be calculated as the product of the percentage of discount and the amount on which the discount is computed.

Penalty %

The percentage of penalty due if the payment is not made on or before the due date (Integer). The value entered in this field must be greater than zero and lesser than 100.

Check the box in the “Select” column of the multiline to mark a term number for deletion.
Click the “Save” pushbutton to save the modifications made.

The system saves the modifications made to the payment schedule. The system also stores the login ID of the user and the system date along with the invoice details.

Click the “Save and Authorize” pushbutton to save the modifications made to the payment schedule and authorize the invoice.

The system generates a new payment schedule based on the modifications made. The system also updates the status of the invoice as “Authorized”. The system also updates the login ID of the user and the system date along with the invoice details.

To proceed, carry out the following

Select the “Invoice Summary” link from the bottom of the page to view invoice summary.
Select the “Accounting Information” link from the bottom of the page to view account posting details.

Modifying payment schedule – An overview

This page allows you to modify the electronic payment details of the supplier and the login company. You can also modify the details of the payment schedule. The system saves the modifications made to the electronic payment details and the payment schedule. The system generates a new payment schedule based on the modifications made.

This page also allows you to authorize the invoice after saving the modifications made to the payment schedule. The system updates the status of the invoice as “Authorized”. The system also stores the login ID of the user and the system date along with the invoice details.

What you can do in this page

Calculate discounts on different amounts

Select the type of due amount

Select the type of discount amount

Calculate discounts on different amounts

You can select the amount on which the discount must be calculated if the payment has been made before the due date.

Set the “Discount Computation” field to “Base Amount” to calculate the discount before the addition of taxes or charges or deduction of discounts.
Set the “Discount Computation” field to “Gross Amount” to calculate the discount after the addition of taxes and charges and deduction of discounts.

Select the type of due amount

The amount that is due for payment can be fixed in two different ways. You can pay a flat amount or a percentage of the due amount.

Set the “Due Amount Type” field to “Flat Amount” if a flat amount is payable on the due date.
Set the “Due Amount Type” field to “Percentage” if a percentage of the total due amount is payable on the due date.

Select the type of discount amount

The discount amount to be deducted can be fixed in two different ways. You can deduct a flat amount or a percentage of the due amount.

Set the “Discount Amount Type” field to “Flat Amount” if a flat amount can be deducted as discount.
Set the “Discount Amount Type” field to “Percentage” if a percentage of the due amount is deducted as discount.

Prerequisite

“Swiss Pay Modes Applicable” must be set as “Yes” in the “Company Parameter Setup” business component.