Split a posted sales invoice into installments

If you have a customer requesting to split the payment of an invoice into installments, the Installment Payments Module in Continia Finance can handle this quickly and smoothly. You can also use installments via templates for other document types, such as:

• Sales orders
• Purchase orders

Activate and setup installment payments

The Installment Payments Module is available for subscription with Continia Finance. Please contact your Business Central partner for assistance.

Then, from the Continia Solution Management page, you need to activate the module. Use the Manage Modules action and follow the prompts.

Use an installment template to split a posted sales invoice

To split a posted sales invoice, navigate to the Customer Ledger Entries.

Open the Continia Finance menu and use the Installment action.

You can manually create lines from the Installment Plan page, but it’s much easier and quicker to use a template or create a new one.

Choose the Use Template action.

Select one of the existing templates if it is suitable, or create a new line with a relevant Code and Description, then use the Installment Template Lines action.

Set up the Installment Template with the options in the Split section:

• Number of Splits specifies the number of installments
• Split Description creates text to display in the ledger entry description field. There are merge fields available, which you can review from the “…” action.
• Split Due Date Formula specifies the duration between installment due dates
• Installment used for residual amount specifies if either the first or last installment should include any residual amount if an even split is not possible
• Start Date for Test sets an example date for you to test whether the installment schedule is suitable

Once you have completed the details, use the Split action to create the installment lines.

You can make further adjustments to the template, such as changing the Amount Percentage to change the balance across the installments. Then simply return to the Installment Templates page, select the relevant line and choose OK.

In the Installment Plan page, the template will applied in the lines. If there are no further adjustments to make to the original document information and installment lines, then you simply use the Post action to complete the process.

Manually adjust an installment plan

You can manually adjust the details for the installments of this posted sales invoice before posting the installments.

• Due Date is relevant for each individual installment payment
• Rate of Amount adjusts percentages of the total
• Amount adjusts raw amounts

To quickly finish adjusting amounts, use the action Add Remaining Amount to Line.

To create an overview of the installment plan to send to the customer, use the action Agreement of Installment.

Once you have finished adjusting the details, simply use the Post action.

View Customer Ledger Entries for installments

Once a sales invoice is split into installments, the Customer Ledger Entries will show:

• Each installment as a separate entry, with a check in the Open column
• An offsetting entry that functions to close the original invoice document entry
• The original invoice document

More resources

The next unit covers setting up a customer to automatically have each sales invoice split into installments.