As mentioned in the previous article, setting up "Payment Plan Templates" can be done using an assisted setup. This is suggested to use when creating a "Payment Plan Template" for the first time as more guidance is given for each section of required setup to explain the purpose of the field. Once the User is then familiar with the fields and what they are used for, new templates can be edited or created as new without using the Setup wizard if required. 

Opening the "Payment Plan Templates" list page will show the Template Setup Wizard option in the ribbon. 

This will then take you through multiple small screens requiring the user to confirm the data they want to setup on the Template. Once the option is clicked and the welcome message has come up, click Next to get started. 

Firstly, you're required to confirm the Code (up to 20 characters) for the template as well as what Description (no more than 100 characters) you want this to be called. 

Clicking Next once these are populated will then take you to the next screen. Here you need to click into the dropdown for G/L Account No and select an existing G/L Account from the "Chart of Accounts". This will automatically populate the G/L Account name once chosen. 

Click Next again once these are populated. This will open a screen to confirm if you want Auto.Post Invoices 'Yes' or 'No' on the template you are creating. This is defaulted to 'No' so when invoices are created from the Sales Orders "Payment Plan", only "Sales Invoices" are created, requiring a User to manually Post these. If you select 'Yes' here, Business Central will create and post the invoices from the Payment Plan, automatically storing the "Posted Sales Invoice" no against it. 

Choose Next again to view the next screen. 

The following page requires the User to populate the Staged Payment Lines with the number of 'Staged Payments' you want on the "Payment Plan". This simply requires the user to populate the number in the field which, once the Template Wizard is done, will create that number of 'Staged payments' on the "Payment Plan Template". 

Once Next has been clicked, the setup has been completed, so choosing Finish will confirm the choices and create the "Payment Plan Template" for you. 

Your newly created "Payment Plan Template" will open automatically. Here, you will see the information you have already provided populated in the relevant places. The following fields still require populating:

  • Value Type: Where '%' is used, the Default % is also required. Where 'Fixed Amount' is selected, the Default Fixed Amount must be populated.
  • Invoice Trigger - This can either be 'Date' or 'Event' (at what point can the Invoice be created). Where 'Event' is used, the Invoice Trigger Type must also be populated. 
  • Payment Terms Code - If populated here, will use this Payment Terms Code on both the 'Staged payments' and 'Closing Invoice' over-riding the Bill-To-Customers default setup. 
  • Status - Must be made 'Active' once all the information is populated on the "Payment Plan Template".

More information on the above fields can be found here