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Setup

The Instalment Payments solution allows you to split customer payments across multiple scheduled instalments, providing flexible payment options while maintaining accurate financial tracking.

Prerequisites​

Before setting up instalment schedules, ensure you have:

  • Appropriate permissions to modify Payment Methods and create Instalment Schedules
  • G/L accounts configured for instalment due amounts
  • Payment terms defined for instalment payments
Important

The Instalment Payments app initially works in a sandbox environment without a subscription. However, you must start a trial to use it in a production environment or after 30 days. For more information:

Setting up an Instalment Schedule Template​

Search for Instalment Schedule Templates to create or edit Instalment Schedule Templates.

InstalmentScheduleTemplates

InstalmentScheduleTemplates

Header Fields​

Field NamePurpose
CodeGive the Instalment Schedule a meaningful name so you can recognise it when selecting it in the system.
DescriptionA short description of the Instalment Schedule template.
Rounding Goes ToThis can be set as Last Line or First Line. This determines which ledger entry receives any remaining amount from rounding calculations (e.g., if splitting $100 into three equal parts, the extra cent goes to the selected line).
Defer GSTWhen enabled, GST will be deferred and apportioned across each instalment payment rather than being applied to the first instalment.
Instalments Due AccountSpecifies the G/L account for this payment method, allowing different revenue streams to post to different accounts.
Instalments Payment TermsDetermines the payment terms to apply to the instalments.

Line Fields​

Field NamePurpose
Instalment CodeFor display purposes only. Shows the code from the Instalment Header.
Instalment No.Specify the sequential instalment number (1, 2, 3, etc.).
Instalment Date FormulaEnter a date formula to calculate when this instalment is due. Examples: 30D (30 days), 1M (1 month), 2W (2 weeks). This calculates the posting date for each instalment.
Instalment PercentageDefine the percentage of the total amount due for this instalment. Note: All line percentages must total exactly 100%.
Important

The system will validate that all instalment percentages add up to 100% before allowing you to use the template.

Setting up Payment Methods for Instalments​

Search for Payment Methods and configure the following fields on the payment method you want to use for instalments:

Payment Terms

Field NamePurpose
Instalment Payment TypeSpecifies that this Payment Method is used for Instalment Payments.
Instalments Payment MethodSpecifies the default payment method applied to individual instalments on sales documents.
Defer GSTWhen enabled, GST will be deferred and apportioned across each instalment payment.
Instalments Due AccountSpecifies the G/L account for this payment method, allowing different revenue streams to post to different accounts.
No. of InstalmentsSpecifies the default number of instalments applied to sales documents when selecting this payment method.
Instalments Posting Date CalculationSpecifies the date formula for calculating when the first instalment is due (e.g., 30D for 30 days from invoice date).
Instalments Period FormulaSpecifies how often subsequent instalments are due (e.g., 1M for monthly, 30D for every 30 days). This calculates posting dates for instalments after the first one.
Instalments Payment TermsDetermines the payment terms for individual instalments.

Next Steps​

After configuring your instalment schedules and payment methods:

  1. Test the setup with a sample sales order
  2. Verify that instalments are created correctly
  3. Confirm that GST handling meets your business requirements
  4. Train users on how to apply instalment payment methods to sales documents

See Also​

  • Processing - Create and manage instalment payments
  • Pricing - Subscription and licensing information