Use the split payment functionality screen to create a terms code that allows split payments for an order by assigning other previously defined terms codes to certain percentages of the order.
For example, you create a terms code, and assign one terms code that allows payment for 50% of the order to be due in 30 days and another terms code that requires payment of the other 50% to be due in 60 days. When the new terms code is assigned to an order, the invoiced order is broken into two different generations, based on the percentages of the terms code assigned to each generation. This allows the customer to spread their payment of an invoice over two months without being penalized. In addition, when you create a split terms code, the change log indicates that this change was made.
To create a terms code that allows split payments:
From the Maintenance menu, select Terms to display the Terms Maintenance window.
Follow the procedure for Creating or Editing Terms Codes.
From the Options menu, select Split Payments to display the Split Payment window.
In the Terms Code column, select from the list of terms codes.
In the Percent column, enter the percentage of the invoice that you want to be connected with that terms code. For example, for terms code 1210, which has a due date of 30 days after shipment is received, enter 50 to have 50% of the invoice amount due in 30 days.
Continue with steps 3 through 5 until the total of the Percent column equals 100%.
Note: When you use this option, the Totals tab on the sales order indicates that the generations are split and the percentages. The change log for the order indicates the split payments. The invoice for the order splits the payments on different line items.
Click OK.
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