Modifying payment schedule during authorization

This page allows you to modify the payment schedule that is generated based on the modifications that have been made to the prepayment invoice. Tell me more.

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

The “Payment Schedule” page appears.

The system displays the following:

Invoice No.	The number identifying the prepayment invoice.
Status	The status of the invoice. It must be “Fresh”.
	Fresh – indicates a prepayment invoice that can be authorized.
Currency	The code identifying the currency in which the prepayment invoice has been created.
Total Invoice Amount	The total prepayment invoice amount.

Modify the following fields if required:

Discount Computation	Use the drop-down list box to set whether you want to calculate the discount on the “Base Amount” or the “Gross Amount”.
	Base Amount – indicates that the discount is calculated on the prepayment invoice amount before the addition of taxes or charges or deduction of discounts.
	Gross Amount – indicates that the discount is calculated on the total prepayment 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 “Create Pay Term” activity of the “Pay Term” business component and must be in “Active” status.
	Press <Enter> key.
	The system retrieves and displays the corresponding pay term description. The system calculates and displays the payment details in the “Payment Schedule Information” multiline and also generates the term number in the respective field.
	Help facility available
Description	The textual description of the pay term.
	Zoom facility available

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

Term No.	A 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 prepayment invoice has been created.

Note: If data is available in more than row of the “Payment Schedule Information” multiline, the due dates available in a row must be later than the date available 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 total amount due (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. The sum total of all the percentage due in the various rows of the multiline must be greater than zero and lesser than 100.

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 amount of the debit note.

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

Discount Computation Amount

The amount on which the discount must be calculated.

Note: If the discount computation is selected as “Gross Amount / Base Amount” and due amount type is “Flat” then the system displays the due amount as the discount computation amount.

If the discount computation is “Gross Amount” the system calculates the amount on which the discount is computed as the product of the percentage due for the term and the invoice amounts. If the discount computation is set as “Base Amount” the system calculates the amount on which discount is computed as the product of the percentage due for the term and the sum of all the item amounts in the invoice.

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 after the prepayment invoice date, the anchor date and the due date.

Note: This field must not be left blank if a value is available in the “Term No” and the “Discount Amount Type” field.

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 time (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 the term number for deletion

Click the “Save” pushbutton to save the modified payment schedule.

The system generates a new payment schedule based on the modifications made.

Click the “Save And Authorize” pushbutton to save the modified payment schedule and authorize the prepayment invoice.

The system generates a new payment schedule based on the modifications made. This payment schedule cannot be modified any longer.

Status Update

The system updates the status of the prepayment invoice as “Authorized”.

Financial posting details

The system saves the sum total amount in the base currency and the parallel base currency of the company.

The system saves the transaction amount in the account currency and debits the individual customer receivable account. The transaction amount is also saved in the base currency and the parallel base currency of the company.

Click the “Return” pushbutton to return the invoice to the invoice to the user who created it for modification.

The system saves the modification made to the invoice and returns it to the user who created it. The system also updates the status of the invoice as “Returned”.

To proceed, carry out the following

Select the “Invoice Summary” link at the bottom of the page to view the summary of the prepayment invoice.

Select the “Accounting Information” link at the bottom of the page to view the account posting information.

Modifying payment schedule during authorization – An overview

The payment schedule can be modified only if the company parameter has been set to “Yes” for the “Modify payment schedule”. You can modify the payment schedule if the prepayment invoice is in the “Fresh” status. You can modify details like the number identifying the term, the dates on which the amount is due and the amount that is due. You can also modify the discount details. The system stores the modified details along with the prepayment invoice.

This page also allows you to authorize the prepayment invoice after saving the modifications made to the payment schedule. The status of the prepayment invoice is updated to “Authorized”. The details of the prepayment invoice and the payment schedule cannot be modified any longer.

This page also allows you to return the prepayment invoice to the user who created it for modification. An invoice is usually returned to the user who created for modifications if the user who is to authorize it is unable to handle the changes the made. The system updates the status of the invoice as “Returned”.