Payment Events

Payment Events are used to provide additional details or descriptions for each of the payments within a multi-payment schedule for Terms flagged as "Multi-Payment Terms" on Sales Orders and Purchase Orders. The multi-payment schedule is accessed via the "Pay Schedule" button on the Sales Order or Purchase Order header.

The Accounting Reporting "Payables Detail" and "Receivables Detail" reports now have a column, "payevent", available to view the Payment Event for the payable or receivable. The "payevent" column provides additional information about each payment in a multi-payment schedule. For example, when multiple payments are applied to a Sales Order with a "1 Year Payoff" Terms code, "Scheduled Payment" is displayed in the "payevent" column in the Receivables Detail grid for each payment line. Additionally, users can now select All Terms, Multi-Pay Terms, or Regular Terms in the "Show items" pick list when running Payables and Receivables reports.

System Navigation

• Accounting > Maintenance > Payment Events

Edit Payment Event form

Field/Flag	Description
Name	Displays the description of the Payment Event.
Active	If checked, this record is active. Only active records may be used in the system.
Default	If checked, when entering a Sales Order or Purchase Order with Terms flagged as "Multi-Payment Terms", the default payment schedule is created with this event.