Scheduled Payments question

  • Scheduled Payments question

    Posted by DSC Communities on April 13, 2017 at 3:04 pm
    • Ann Federwisch

      Member

      April 13, 2017 at 3:04 PM

      We are thinking of implementing scheduled payments for our business where we have annual lease contracts with customers that automatically renew (unless they tell us differently).   Once a yearly invoice and schedule is created, can you easily duplicate it (automatically) for auto renewals so that we do not have to recreate the scheduled payments every year (we have hundreds of customers)?   
      Thanks,

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      Ann Federwisch
      Indiana Logo Sign Group
      Indianapolis IN
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    • Matthew Arp

      Member

      April 13, 2017 at 3:35 PM

      I have not seen a way to duplicate a SCH Payment. The way that they work I’m not sure there would even be a way to duplicate one. With that said, the schedule/amortization is created by default based on the terms of the schedule, so there shouldn’t be too much effort to create the schedule.

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      Matthew Arp
      Business Systems Developer
      Hunton Group
      Houston TX
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    • Danielle MacNaughton

      Member

      April 14, 2017 at 10:32 AM

      Hi Ann,
      You could set up the annual leases/invoices in a recurring batch or batches to make the process a little more automated. On my version of GP (2013) there is not an annual frequency option, but there is a miscellaneous option so you could choose days to increment to be 365. This option might not work if you have leases renewing everyday because that would be a lot of batches to set up, but if they all renew at say, the first of the month, you could set up a batch for each month. This way, the invoices themselves are already generated, you would just need to set the schedules up once those are posted.

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      Danielle MacNaughton
      Leonards Express
      Farmington NY
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    • Diana Doane

      Member

      April 14, 2017 at 5:05 PM

      It sounds like you’re looking more for a subscription billing or contract administration tool rather then scheduled payments.  GP has a module for contract management.  I have not had a chance to work with it though to provide information other than it exists.  There are many ISVs out there with this type of functionality as well.  I’m not familiar with them yet to recommend.  Our company is also in need for something like this.  It just hasn’t moved up far enough on the priority list.

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      Diana Doane
      Ascend Learning, LLC
      Leawood KS
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    DSC Communities replied 7 years, 3 months ago 1 Member · 0 Replies
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