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November 28, 2018 - By Bredet Services

This blog is going to illustrate how to set up Payment Schedules that are a little more complicated. I have also provided screenshots of how this will look on an invoice, Customer Statement and Payment Journal.

Below are the instructions for the following schedule. Your terms with the Customer are 50% in 60 days, 25% in 90 days and 25% in 120 days. I am going to create a Payment schedule and a new Terms of Payment, then I will attach the Payment Schedule to the Terms of Payment. Once this is completed, I will attach this Terms of Payment to a Sales Order.

  1. Accounts receivable/Setup/Payment/Payment Schedule
  2. Click New.
  3. In the Payment Schedule type in what you would like to call the Schedule.
  4. In the Description field type in the Description of the schedule.Payment Schedules Microsoft Dynamics
  5. In Allocation select:
    Specified The specific amount is due on a specific date
    Fixed quantity Payment divided into a fixed quantity of payments
    Fixed amount Payment divided into a specific fixed amount
    Total The total amount is due
  6. In payment per Select days. We are selecting days because the terms will be calculated in days. If it is calculated in months or years select months or years.
  7. Under Sales tax allocation: I have selected proportionally this will divide the tax amount proportional against all payments. You can also choose to allocate the tax amount to the first installment or last installment.
  8. If there are charges associated with the Sales Order you can select in Charge allocations which period you want the charge amounts applied to. See step 7 for more details.
  9. Under payment lines add your terms
    1. The quantity field is going to be the number of days. Enter the amount in Amount in Transaction currency and the Percentage/Amount is whether the amount in Amount in Transaction currency is a Percentage or an amount
  10. Once you have created your schedule, you need to assign it to a term of payment.
  11. Accounts receivable/Setup/Payment/Terms of Payment.
  12. Create a new term of payment for this schedule. I have created one and called it NE60/90/120. Caution: The description assigned in Description is the description that will show up on the invoice.
  13. Under Payment Schedule, scroll down and select the payment schedule you just created.
  14. Click Close.
  15. Once you create a new Sales Order, go to Sales Order/Show/Header View.
  16. Under the Price and Discount Tab, Select the Terms of payment in Payment.

For the example above, I have attached an Invoice, Payment Schedule and customer Accounts Statement just so you can see how it is posted and displayed.

Setting Up Payments Lines in Dynamics 365 Example

Example Customer Account Statement D365

D365 Example Settle Open Transactions

Hope this helps 😊



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