Projects:Editable Payment Plan/Functional Documentation
Editable Payment Plan - Functional Specifications
This functionality provides the possibility to modify an existing payment plan. For example, two different rows of the payment plan can be merged to have just one only row; or a single row can be divided into several ones.
When user completes an invoice or order, the payment plan is automatically created according to the payment terms and payment method of the document. Then, payments in and payments out can be created for that payment plan. This payments can pay or withdraw money for one payment plan line, part of a payment plan line, or several payment plan lines at the same time. Once the payment plan is modified, user will decide whether to create a new version of the payment plan (so the information of the original payment plan information is kept), or to modify the original payment plan information. If the payment terms of the invoice where not correct, user may want to modify the original payment plan. On the other hand, if a delay is agreed with the customer or vendor/creditor, and user wants to keep trace of the deviation from the original plan, so a new version of the payment plan will be created.
Please notice that just the last version of the payment plan is stored in the system.
The purpose of this project is to give the user the ability to modify the payment plan, so amounts and due dates can be re-set.
Let's see one example:
A customer calls announcing that an invoice that was planned to be fully paid tomorrow, will be fully paid in one month. If payment plan is not modified, then the cash-flow forecast will show that this payment-in will be received tomorrow, and it's not the case.
If the payment plan is modified, and the due date re-set to one month from now, our cash-flow forecast will reflect the actual forecast.
Furthermore, when having a look to that invoice in the system, user may want to know the fact that a 30 days delay has been agreed for the payment plan of that invoice.
Also payment monitor is going to be improved, as part of this project. Current labels for some fields are not that clear, and need to be renamed:
- Days Till Due: it makes reference to the next payment plan line information (forgetting about the following lines of the payment plan). It must be renamed to Days Till Next Due.
Furthermore, some new pieces of information will be shown, such as:
- Final Settlement Date: The day in which the invoice was 100% paid/withdrawn.
- Days Sales Outstanding (DSO): Amount of days between the invoice date, and the Final Settlement Date.
- Percentage Overdue: Percentage of the invoice total amount that was paid late, according to the archived plan.
A new field will appear in the payment plan detail, as well:
- Days Overdue: Amount of days of delay for this invoice payment plan line, according to the archived plan.
This project will provide the data model and process necessary to modify an existing payment plan, keeping the trace of the original one.
If a payment plan is modified more than once, just original plan, and last one will be kept. System will not keep any information about the intermediate modifications.
The flow of the payment plan modification process starts in a processed invoice window. A new button is provided to allow user to modify the payment plan.
Once the button is pressed, the not paid payment plan lines are shown:
User is then able to add new lines to the plan:
Checking always that the sum of amounts of payment plan lines do not exceed the outstanding amount:
Also existing lines can be modified:
Once the payment plan is edited, user can save it as a new version:
or modify the archived one:
In order to implement the UI, a new component has to be provided by SmartClient. This is right now an on-going project called pick and execute. Once that project is delivered, the UI of this project can be developed.