The Instalment Payments extension for Microsoft Dynamics 365 Business Central provides functionality to allow for transactions to be paid through manageable and flexible Instalments. The extension allows you to assign instalment plans to invoices before or after posting. The capability allows you to handle scenarios where the invoice was always intended to be settled in instalments and scenarios where you are renegotiating payment terms with a customer.
When an invoice will be settled by instalment payments, the accounts receivables gets updated by posting the necessary entries between accounts receivable and instalment payments due. With this approach the customer statements only show what is currently due. The app can also handle the deferral of GST for organisations that settle GST on the payments basis.
- Use preconfigured or custom instalment plans before posting invoices
- Use preconfigured or custom instalment plans after posting invoices
- Handle the deferral of GST for organisations that settle GST on the payments basis
- Better cash flow reporting by understanding when instalments are due
Instalment's can be created on the following sales documents and also from Customer Ledger Entries.
- Sales Order
- Sales Invoice
- Sales Credit Memo
- Sales Return Order
Instalment's are created for sales documents based on either an Instalment Schedule Code or a Payment Method Code being specified. The Payment Method Code must be setup as an 'Instalment Payment Type'. If neither are specified, or the Payment Method Code is not an 'Instalment Payment Type', then the document will post using Standard BC functionality and no Instalment's will be created.