INTRODUCTION
This article describes the Scheduled Payments transaction in the following products:
• Microsoft Dynamics GP 10.0
• Microsoft Dynamics GP 9.0
• Microsoft Business Solutions-Great Plains 8.0
• Microsoft Business Solutions-Great Plains 7.5
Additionally, this article describes how to void a scheduled payment.
MORE INFORMATION
You can use the Scheduled Payments transaction when you create installments from an invoice and when you post amortizations. The following steps show how the Scheduled Payments transaction works.
1. |
You post an invoice from which installments are created. |
2. |
You select the invoice in the Receivables Scheduled Payments Entry window to create a scheduled payment. You configure the scheduled payment, and then you post the scheduled payment. When you do this, Microsoft Dynamics GP creates the following documents: • A credit memo document in which the type is set to "CR."
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3. |
You post the amortizations in the Post Receivables Scheduled Payments window. • The amortizations are related to the invoice document in which the type is "SLS." |
For example, you create six installments from an invoice that has an amount of 1,200. Then, you post all amortizations. In this example, the results of the "Schedule Payments" transaction are as follows.
Accounts Receivable account |
Sales account |
Offset account |
Document |
Type |
1,200 |
-1,200 |
- |
Invoice |
SLS |
-1,200 |
- |
1,200 |
Credit memo |
CR |
- |
- |
- |
Scheduled payment |
SCP |
200 |
- |
-200 |
First amortization |
SLS |
200 |
- |
-200 |
Second amortization |
SLS |
200 |
- |
-200 |
Third amortization |
SLS |
200 |
- |
-200 |
Fourth amortization |
SLS |
200 |
- |
-200 |
Fifth amortization |
SLS |
200 |
- |
-200 |
Sixth amortization |
SLS |
1,200 |
-1,200 |
0 |
- |
- |
How to void a scheduled payment
1. |
Void amortizations. To do this, follow these steps.
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2. |
Void the credit memo. To do this, follow these steps:
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3. |
If you want to void the invoice that you use for the scheduled payment, follow these steps:
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4. |
If you want to change the status of these transaction documents to "History," follow these steps:
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5. |
If you want to remove these transactions from the Receivables Management module, follow these steps:
Note To complete step 5, you first have to complete step 4. |
APPLIES TO
• |
Microsoft Dynamics GP 2010 |
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Receivables Management, when used with: |
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