Partial Payments

Partial Payment/Payment Scheduler

In Accounting Core there is a new enhancement for Partial Payments/ Payment Scheduler will allow more flexibility regarding when an Invoice is fully paid while keeping the conventional invoicing process in place.

Partial Payment: An action whereby a Check has been cut for an Invoice for less than 100% of the whole Amount Paid by the Invoice's Due Date (or last Multi Due Date).

Payment Scheduler: New Accounting Core dialog in which separate Dates by which portions of the Invoice Amount are Partially Paid.

1. 1. Select Vendor
   2. Go To Invoice Tab
   3. Enter Invoice as normal by selecting New under Functions.
   4. Once all regular data fields are entered select the PAYMENTS… button.
   5. The below Payment Schedule for Invoice box will appear.
   6. For the system to automatically divide and schedule partial payments of the invoice.
      1. Select Installments button and the below Payment Installments box will appear.
      2. Or user can manually enter each scheduled payment in the fields. Please note: user will need to double click in the fields for data entry options to appear.
   7. In the Payment Installment box user can select the number of partial payments to schedule. Enter the date range of the first payment to the date of the last payment.
      1. Once selections are made select OK
      2. The system automatically divides up and schedules the partial payments based on user selections.
      3. User can manually edit the schedule for each partial payment. Please note: user will need to double click in the fields for data entry options to appear.
         1. The “Void” & “Cleared” boxes are not editable and appear for reference only. Boxes are checked if payment has been voided within Check Writer or cleared in Cash Management Bank Reconciliation.
         2. The “Next Due” field can be edited by double clicking in the cell and manually adjust the date or you can select the calendar button. This field shows the date for when the associated Amount Due is to be paid.
         3. The “Paid On” field is not editable and appears for reference. Shows date paid when associated payment is paid.
         4. The Payment “Method” field can be edited by clicking twice and selecting the drop down menu and select ACH, Manual, or Regular.
         5. If Manual Payment type is selected the user will have the option to select the “Bank Account” and check number. “Check#” is blank if no payment has been made.
         6. “Amount” field can be edited by double clicking in the Amount cell.
            1. Total Amounts: Sums the totals of the Amount Column.
            2. If Total Amounts is more than the total invoice amount the Total Amounts value will appear in Red with the value of the amount over in the Amount Over field.
            3. If Total Amounts is less than the total invoice amount the Total Amounts value will appear in Red with the value of the amount remaining in the Amount Remaining field.
            4. If “Amount” is <= 0, a negative number, user will get the below message.
            5. If Total Amounts is < or > Invoice Amount or “Balance Due,” the user will get a validation message.
         7. User can manually enter notes for reference in the “Notes” field by double clicking in the Notes cell.
         8. Clicking OK saves the payment schedule for the invoice.
         9. Clicking “CANCEL” will cancel any changes to the Payment Schedule.
   8. Once completed with the Payment Schedule the user can save the invoice as usual under Functions.
   9. User can modify an invoice that has been entered and posted for the full amount to Schedule Partial Payments.
      1. To modify user selects desired invoice and then selects Edit under Functions.
      2. Once Edit is selected user can select the Payments…button.
      3. When user selects the Payment…button the user can manually enter each payment schedule or manually edit the scheduled line amount to show an amount remaining and the Installment button will be available and no longer appear grayed out.
      4. To edit Payment Schedule to remove a schedule payment line click on the dark gray column to the farthest left of the screen to highlight the entire row and then select the DELETE key on the user‟s Keyboard.
   10. Users can view on screen invoices that have been Partially Paid.
       1. On the Invoice Tab users can select to view Show… Partially Paid
       2. The date of the Last Payment will be included in the “Paid On” field once an invoice with multiple payments has been paid in full.
       3. By selecting the ellipsis box with 3 dots the user can view Payment information as well as Scheduled Payment information for the selected invoice
          a. If an invoice has been paid in full with multiple payments the user will see the below screen with Void or Cleared status, Bank Account, Check#, Payment Type, Paid On date, Amount, Notes, and Total Paid.
          b. If an invoice has been scheduled for partial payments but not paid in full the user will see the below screen shot with the Scheduled Payments and Balance Due.