Receivables Scheduled Payments 1

[Borvik]

I'm trying to figure out this whole process of scheduled payments. (We're using GP 10 btw)

I've read the section on scheduled payments in the Receivables Management PDF - but nowhere does it mention printing the periodic statement/invoice for the customer.

I've been trying to download some training material from CustomerSource - but apparently there are issues with the File Transfer Manager.

I know how to create a scheduled payment - and post the individual transactions so that I can apply a cash receipt to it - but how do we let a customer know that a scheduled payment is due (ie print)? Does it print off with other processes?

Any clues would be greatly appreciated.

Thanks.

 

[triffe]

We have a customer that has been using scheduled payments extensively since they first came out with GP. We redesigned the amortization schedule report that you can print when you are viewing the schedule payment. Our customer wanted a payment coupon book type report for their 24 month scheduled payments - 3 payment coupons to a page - that they print on perforated paper that shows the principal amount, payment amount due, interest due, and balance after the payment is made. Each "coupon" has a part that the customer returns with their payment and a part the customer keeps as their record of their payment. They give the payment coupons to their clients when they setup the contract.

Unfortunately, there is no good way of tracking or printing monthly invoices to customers showing what they owe you for the new month.

Another downfall to the scheduled payments feature is that it is difficult to see what a customer owes you for current scheduled payments as well as future scheduled payments (in case the customer wants to pay you off early.) Trial balance reports and statements only show the balance of what the customer currently owes you based on the scheduled payments that have been posted so far.

We have made this feature work for our customer by designing several custom reports using the scheduled payments tables.

BTW, I think the problem with the file transfer is fixed. I too had problems earlier this week and last week, but I was able to download files today.

 

[Borvik]

Thanks triffe.

It would seem scheduled payments isn't as simple to use as the rest of GP (comparitively speaking of course - as GP is still complicated ).

This is compounded by the complexity with which the boss wants to utilize it - as it appears GP doesn't handle it the way to boss wants part of it to work.

If the boss does decides to use it the way it works in GP, it looks like your coupon book solution is what I'll recommend.

Thanks again triffe!