Introducing the Installment Module
The Installments module facilitates the management of scheduled payments. It allows you to create, track, and manage payments spread across specific periods. This module streamlines the handling of installment plans, making it easier to manage and monitor scheduled payments.
It offers the following key functionalities:
- Splitting Documents - the ability to split sales and purchase documents into multiple installments, either from a posted document or during posting.
- Customizable Setup - define whether to include the document type in installment documents and create various installment templates with different maturity dates, applicable to both creditors and vendors.
- Flexible Posting Options - split posted documents into different rates using templates or manual entry. Choose to display all postings or only installment postings.
- Cancellation Feature - cancel installment payments, reopening the original document as needed.
To start working with scheduled payments, you can set up Installment Templates.