Payment Scheduling

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1.0 Define Payment Terms on Purchase Orders

1. Go to Buying > Purchase Order > New (or open an existing PO).
2. In the header, find Payment Terms Template.
3. Select a template (e.g., Net 30).
4. Add or adjust Payment Schedule rows specifying:
   • Due Date (e.g., 30 days from invoice date)
   • Amount (%) or Fixed Amount
5. Click Save and Submit your PO.

Create custom Payment Terms Templates under Buying > Setup > Payment Terms for repeated use.

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2.0 Generate Payment Reminders

1. Go to Buying > Reports > Supplier Due Date.
2. Filter by:
   • Supplier (optional)
   • From Date / To Date
3. Click Refresh to see all upcoming and overdue payments.
4. Export or schedule the report to email yourself or your team.

Bookmark this report on your dashboard for daily monitoring.

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3.0 Create a Payment Entry

1. Navigate to Accounts > Payment Entry > New Payment Entry.
2. Select Payment Type:
   • Pay (outgoing) for supplier invoices
   • Receive (incoming) if refunding
3. Set Party Type = Supplier and Party = [Supplier Name].
4. Link the related Purchase Invoice or Journal Entry in the References table.
5. Confirm Paid Amount, Payment Account, and Bank Charges (if any).
6. Click Save, then Submit.

The system automatically applies the payment to the invoice based on the schedule you defined.

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4.0 Reconcile Payments

1. Go to Accounts > Bank Reconciliation.
2. Select your Bank Account.
3. Enter Statement Date and Closing Balance.
4. Click Get Entries to fetch unreconciled Payment Entries and bank statement lines.
5. Match each payment entry to its bank transaction.
6. Click Reconcile to finalize.

Regular reconciliation keeps your ledger and bank statement in sync and highlights discrepancies early.