Processing Partial Payments/Adjusting Discounts

This section describes how to process a partial payment against an accounts payable invoice and how to adjust the discount amount and or the discount date to be used for a specific invoice.

Next Payment Amount

As AP invoices are entered into the StreamV Accounts Payable System, the total amount of the invoice is loaded into the Next Payment field in each record.  The next payment field is used to determine the amount of the next payment to be made against the invoice.

Discount Amount/Date

If the invoice being processed also contains an available discount (based on the terms record being used for the invoice), the system will calculate the amount of the available discount and the date that the invoice must be paid by in order for the discount to be taken.  The amount of the discount is loaded into the discount field in the invoice, and the date the discount must be taken by is loaded into the discount date field in the invoice.

As you select invoices for payment by tagging them, or as the system selects the invoices during processing, the system checks the current date against the discount date and it checks the amount of the payment being made against the invoice.  If  the invoice is being completely paid, and the discount date is less than or equal to the discount date, the system automatically moves the amount of the discount into the next discount field of the invoice and it includes the discount amount in the payment being processed (i.e. if 1 invoice is being processed, the invoice amount is 100, with 2%10, NET 30 TERMS, the system sets the next payment to 98, the next discount to 2 and the check is created for 98 if the check date is less than or equal to the discount date).

If necessary, you may edit the discount amount and the discount date for an open invoice (even if the terms indicate that a discount is not available), to handle situations where you wish to take discount after the calculated discount date, or where you need to add a discount amount to an invoice after it has been entered into the system (to handle situations where the wrong terms were used for the invoice during AP invoice entry).


Setting a Partial Payment Amount

Forcing a discount