Set up and create postdated check installments for a vendor

  • Article

Important

This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

You can pay a vendor in multiple installments using postdated checks. Set up an installment schedule for the payment and divide the total invoice amount into installments. You can use postdated check installments to pay a payment journal line or an open invoice. However, you can set up only one installment schedule for the invoice amount or the journal amount. The amount of each check is calculated based on the number of installments, the number of checks, and the time period for payment. Withholding tax is deducted from the invoice amount.

Set up and create postdated check installments in a payment journal line

  1. Click Accounts payable > Journals > Payments > Payment journal.

  2. Create a new payment journal.

  3. Click Lines to open the Journal voucher form.

  4. Create a new vendor payment line.

  5. In the Debit field, enter the debit amount.

  6. In the Method of payment field, select the method of payment for the postdated check.

  7. Click the Postdated checks tab to register a postdated check. For more information, see Register and post a postdated check for a vendor.

  8. Click Functions > Create postdated check installments.

  9. In the Number of installments field, enter the number of installments to be created for the payment journal line.

  10. In the Period interval field, select the interval for the installments as Days, Months, or Years.

  11. In the Number of units field, enter the number of units for the checks.

  12. Click OK to create postdated checks to pay the vendor in installments.

  13. Close the forms to save your changes.

Set up and create postdated check installments in an open invoice

  1. Click Accounts payable > Journals > Payments > Payment journal.

  2. Create a new payment journal.

  3. Click Lines to open the Journal voucher form.

  4. Select a vendor payment line, and then in the Account field, select the vendor account.

  5. In the Method of payment field, select the method of payment for the postdated check.

  6. Click Functions > Settlement.

  7. In the Settle open transactions form, select the Mark check box to select an open invoice. The amount to be settled is updated in the Debit field in the Journal voucher form.

  8. Close the form to save your changes.

  9. Click Functions > Create postdated check installments.

  10. In the Number of installments field, enter the number of installments to be created for the open invoice.

  11. In the Period interval field, select the unit for the installments as Days, Months, or Years.

  12. In the Number of units field, enter the number of units for the checks.

  13. Click OK to create postdated checks to pay the vendor in installments.

  14. Close the forms to save your changes.