Use split payments to spread payment of an invoice over multiple payment dates. Splitting payments can be useful if you have a large invoice and a limited budget, or if you have parts of a delivery coming in and you want to coordinate your payments with the arrival of the deliveries. You can split payments in one of the following ways:
To approve, pay, and print only one of the multiple payments, you must use the A/P Preview Queue. For more information, see A/P Preview Queue Overview.
To split a payment into unequal payments:
From the A/P menu, select A/P Entry to display the A/P Entry window.
From the G/L menu, select Split Payments to display the Split Payments window.
The window displays with the amount of the invoice listed in both the Pay Amount field and in the first line item, which is posted to a single pay date.
On the next line, enter a second date in the Pay Date column.
In the Pay Amount column, enter the amount of payment for that date.
The system subtracts the amount entered in the Pay Amount column for the second pay date from the amount originally listed in the Pay Amount column for the first pay date. The amounts for the Invoice Amount, Disc Amount, and Deduct Amount columns are redistributed accordingly.
At the prompt, move the cursor to the Pay Date associated with the Pay Amount to reduce and press Enter.
Note: When you have more than two parts of a split payment, the system asks you to select which part of the payment you want to break down further.
The system adjusts the amounts for that Pay Date accordingly.
Repeat steps 4, 5, and 6 as necessary.
Click OK to split the payment as needed. The system splits the payment and displays Split* in the Pay Date field of the A/P Entry window.
Note: You can make changes to the Disc Amount and Deduct Amount fields of a split payment in the same way you change the Pay Amount field, if needed.
To split a payment into equal payments:
From the A/P menu, select A/P Entry to display the A/P Entry window.
From the G/L menu, select Split Payments to display the Split Payments window.
On the Split Payments window, click Equal Payments.
At the prompt, type the number of payments you want to make and click OK.
The system calculates and lists the amounts for each payment, invoice, discount, and deduction amounts.
For each line item, enter a payment date in the Pay Date column.
Click OK to save your changes and return to the A/P Entry window.
The system displays Split* in the Pay Date field.
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