In Customer > Maintain > Transaction Entry, one scheduled payment can be split into as many as 99 new scheduled payments. The new scheduled payments can split the original amount and discount with new due dates and discount dates.
When a payment is split, the actual invoice number of the new scheduled payments does not change; only the sequence numbers do. The sequence number of the scheduled payment being split becomes inactive, and new sequence numbers are assigned to the new scheduled payments.
When splitting payments, the terms of the payment change, but the original invoice amount does not change. The General Ledger is not affected.
Address: AREMT
Menu: Customer > Entry > Maintain Transaction
Invoice Transaction Split Payment
Customer: Enter/lookup the customer’s account
Type: Invoice
Click <SEARCH>
Check the box next to the invoice to split into multiple scheduled payments
Click <SPLIT SCHEDULE PAYMENT>
Enter the number of Scheduled Payments transaction should be split (original amount/payments = the new scheduled payment amount per and the days between Due dates.
Click <OK>
Review the newly created Scheduled Payments.
If correct, Click <SAVE>
If Incorrect, Click <CANCEL> or Manually edit the values.
NOTE: both the Amount Proof and Discount Proof need to equal Zero.
How to manually split payment.
Customer: Enter the Customer’s account
Type: Invoice
Click <SEARCH>
The resulting list could end up VERY long. The magnify glass search can be leveraged to speed up the search of the listing. Enter the order to split and then press <Enter>
Click the box on the Left
Click <SPLIT SCHEDULE PAYMENT>
Enter the number of payments to split the original invoice amount
Days: this is the number of days allowed between future scheduled payments due.
Click <OK>
By default, the system splits the scheduled payment amounts and due dates based on the previous screen’s entry.
The amounts can be changed in the grid and adjusted to any amount. Sometimes Central sets up a front-end loaded payment plan, $5000 due now, and then $1000 per month until paid off.
These values can be manually overridden:
Amounts per Payments Due:
Due Date per Payments Due
Discount Date per Payments due – only applicable if the order has a discount.
The following example is front-end loading the scheduled payment amount.
Once the value(s) has been changed, Click <SAVE>
If there is a discount on the original invoice, that value can be moved or spread among the newly scheduled payments.
The original default split allocates the discount on the first payment.
It is possible to move this discount to the last payment or split among the payments. The Discount (Reward) moved from being fully front end loaded to either the end or split throughout the split will motivate the customer to pay all scheduled payments on-time.
The following is the invoice discount after it has been moved from Payment 1 to Payment 3. Click <SAVE> once the appropriate change(s) has been made.
What it looks like in ARIC > Transaction after an invoice has been split into multiple payments.
There is one invoice record and multiple Scheduled Payment records.
In the following example there is a front-end loaded Payment schedule.
Clicking on each of the Right Arrows to view more details.
The 3rd scheduled payment had the full discount as manually allocated in AREMT.
Statement: the invoice number is listed per Scheduled Payment.
Note: Invoice date is the same for all Scheduled Payments. The Due Date is split by 30 days per the Split.
