Description of the Scheduled Payments transaction and a description of how to void a scheduled payment in Microsoft Dynamics GP

This article describes the Scheduled Payments transaction and a description of how to void a scheduled payment in Microsoft Dynamics GP.

Applies to:   Microsoft Dynamics GP
Original KB number:   857296

Introduction

This article describes the Scheduled Payments transaction in the following products:

• Microsoft Dynamics GP 10.0
• Microsoft Dynamics GP 9.0
• Microsoft Business Solutions-Great Plains 8.0
• Microsoft Business Solutions-Great Plains 7.5

Additionally, this article describes how to void a scheduled payment.

More information

You can use the Scheduled Payments transaction when you create installments from an invoice and when you post amortizations. The following steps show how the Scheduled Payments transaction works.

1. You post an invoice from which installments are created.

2. You select the invoice in the Receivables Scheduled Payments Entry window to create a scheduled payment. You configure the scheduled payment, and then you post the scheduled payment. When you do it, Microsoft Dynamics GP creates the following documents:

   • A credit memo document in which the type is set to CR.

     Note

     The credit memo amount is the same as the invoice amount.

   • A scheduled payment document in which the type is set to SCP.

     Note

     The scheduled payment amount is the same as the credit memo amount.

3. You post the amortizations in the Post Receivables Scheduled Payments window.

   • The amortizations are related to the invoice document in which the type is SLS.
   • When you post an amortization, the amortization amount is subtracted from the scheduled payment.

For example, you create six installments from an invoice that has an amount of 1,200. Then, you post all amortizations. In this example, the results of the Schedule Payments transaction are as follows.

Accounts Receivable account	Sales account	Offset account	Document	Type
1,200	-1,200	-	Invoice	SLS
-1,200	-1,200	Credit memo	CR
-	-	-	Scheduled payment	SCP
200	-	-200	First amortization	SLS
200	-	-200	Second amortization	SLS
200	-	-200	Third amortization	SLS
200	-	-200	Fourth amortization	SLS
200	-	-200	Fifth amortization	SLS
200	-	-200	Sixth amortization	SLS
1,200	-1,200	0	-	-

How to void a scheduled payment

1. Void amortizations. To do it, follow these steps.

   Note

   Follow step a through step c only if remaining amortization transactions exist that must be posted. Begin with step d to void the invoices that were created by the completed schedule payment.

   1. On the Transactions menu, point to Sales, and then select Scheduled Payments.

   2. In the Schedule Number field, enter the number of the scheduled payment that you want to void, type 1 in the Number of Payments field, select Calculate, and then select Save.

      Note

      You perform this step to make sure that all amortizations are posted.

   3. Follow the appropriate step:

      • In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Routines, point to Sales, and then select Post Scheduled Payments.
      • In versions that are earlier than Microsoft Dynamics GP 10.0, point to Routines on the Tools menu, point to Sales, and then select Post Scheduled Payments.

   4. In the Post Receivable Scheduled Payments window, select the check boxes for the amortizations that you want to void, and then select Post.

   5. On the Transactions menu, point to Sales, and then select Posted Transactions.

   6. In the "Receivables Posted Transaction Maintenance" window, enter the number of an amortization that you posted in step 1d in the Number field, and then select Void.

   7. Repeat step 1f for other amortizations that you posted in step 1d.

      Note

      If the scheduled payment has the number SCHPY00000000001, the amortizations numbers resemble the following numbers:

      • SCHPY00000000001001
      • SCHPY00000000001002
      • SCHPY00000000001003

2. Void the credit memo. To do it, follow these steps:

   1. On the Transactions menu, point to Sales, and then select Posted Transactions.
   2. In the Receivables Posted Transaction Maintenance window, enter the number of the credit memo that you want to void in the Number field, and then select Void.

3. If you want to void the invoice that you use for the scheduled payment, follow these steps:

   1. On the Transactions menu, point to Sales, and then select Posted Transactions.
   2. In the Receivables Posted Transaction Maintenance window, enter the number of the invoice that you want to void in the Number field, and then select Void.

4. If you want to change the status of these transaction documents to History, follow these steps:

   1. Follow the appropriate step:
      • In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamcis GP menu, point to Routines, point to Sales, and then select Paid Transaction Removal.
      • In versions that are earlier than Microsoft Dynamics GP 10.0, point to Sales on the Tools menu, and then select Paid Transaction Removal.
   2. Select Process.

5. If you want to remove these transactions from the Receivables Management module, follow these steps:

   1. Follow the appropriate step:
      • In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamcis GP menu, point to Utilities, point to Sales, and then select Remove Transaction History.
      • In versions that are earlier than Microsoft Dynamics GP 10.0, point to Utilities on the Tools menu, point to Sales, and then select Remove Transaction History.
   2. Select Process.

      Note

      To complete step 5, you first have to complete step 4.