You can create a payment schedule to make a series of payments
over time for a warranty contract.
Before you begin
To create one-time payments, the payment schedule property
must be selected on the
Properties tab.
About this task
The status of the contract must be draft, pending revision,
or waiting on approval.
Procedure
- In the Warranty Contracts application, select the contract
for which you want to schedule payments.
- Select the Manage Payments action.
- Optional: In the Manage Payments window,
change the description.
- In the Payment field, specify the
amount of each payment and the tax code. The tax
amount is calculated.
- In the Target Invoice Status field,
specify the status for the invoice that is generated for the payment.
- Specify the start date and end dates for the payments. If the status of the contract is pending revision and at least
one invoice has been paid, you cannot change this value.
- Specify a value for the schedule for the payments and the
general ledger debit account.
- Click Estimate Payment. The payment amount is calculated, based on the schedule
that you specified, and the amount is displayed in the Payment field.
- Click OK to accept the payment amount.
- Save your changes.
- Select the Change Status action.
- Change the status of the contract to approved. The payments are scheduled to begin on the start date,
the scheduled invoices are generated, and the total value of all the
invoices is displayed in the Total Cost field.