What Are Invoicing and Payment Plans?
The Invoicing / Payment plans are a kind of templates that can be used to register quotes, customer and purchase orders. These templates provide a better support of the management of advances and partial invoices of larger projects/orders. A common example of this is when the invoicing and payment takes place according to the following:
Of course, there are many variations of the above example.
Settings and Preparations
Before you can start using invoicing and payment plans in your company, you have to set some preparatory settings in the system.
Service Codes / Product Groups
Update Customer / Customer List
Update Supplier / Supplier List
Sales
During registration of a customer order/quote you can state that the order shall be invoiced according to an invoicing plan. In this connection you load a template where the payment of the order is specified. In the invoicing plan you specify how much to be invoiced on each occasion and how much that is left to be invoiced.
In a procedure called Invoicing Plan List you can supervise what is invoiced and what is left to be invoiced, but also release orders for invoicing, e.g. based on time periods.
When the actual delivery takes place, an automatic deduction is made for the partial invoices that have already been sent. A more detailed description of invoicing plans will follow in the sections below:
Register Customer Order / Quote
Release of Invoice Basis for Invoicing
Delivery Reporting of Customer Order
Purchase
The Invoicing Plan procedure in the Sales module matches the procedure called Payment Plan in the Purchase module. During registration of a purchase order you state that the order shall be paid for according to a payment plan. The functionality of payment plans in the Purchase module is the same as the one of invoicing plans in the Sales module.
Basis for an advance invoice is created directly from the purchase order via the procedure Payment Plan List or in connection with registration of the supplier invoice.
When arrival reporting the purchase order, earlier paid partial invoices are automatically deducted in the invoice basis. A more detailed description of payment plans will follow in the sections below:
Release of Invoice Basis for Registration of Supplier Invoices