Defining Income Schedules

In this topic you must choose your edition of our application. If you are unsure, contact your administrator.

A single sales invoice can be associated with one or more income schedules.

Lightning Edition

Single Income Schedule

To set up an income schedule for a sales invoice where all line items share the same schedule:

1. Create the sales invoice and line items following the steps described in the related topics.
2. Ensure that all the line items have the same income schedule selected. To do so, in the Income Schedule field on line items, specify the same income schedule and click Save. This saves the selected income schedule for the lines and generates the income schedule lines.
3. [Optional] Clear the Income Schedule field of the line items to exclude the income schedule lines. Select the same income schedule that is set for all lines to include the income schedule lines and click Save.To preview the generated income schedule lines, click Edit Income Schedule on an in progress sales invoice and View Income Schedule on a completed sales invoice.

You can edit the income schedule only when a sales invoice is in progress.

To edit the selected income schedule:

1. Click Edit Income Schedule in the grid toolbar. The Edit Income Schedule window displays the preview of the income schedule lines, showing the apportioned amounts for each accounting period, using the default settings from the selected income schedule definition and included products.
2. [Optional] Change the value in the Number of Journals, Period Interval, or Start Date fields, as required. Select or deselect the Use Part Periods checkbox. Errors occur if the values are invalid.
3. [Optional] In the Preview Section:
   1. Change one or more accounting periods in the Year/Period column.
   2. Amend one or more journal values in the Amount column. Negative values are allowed. Ensure that the sum of the amounts matches the Income Schedule Total value.
   3. Deselect one or more checkboxes in the Post column.
4. When you have finished, click Save to apply the changes or Cancel to abort.
5. Click Save on the sales invoice.

Multiple Income Schedules

To set up multiple income schedules on a sales invoice:

1. Create the sales invoice following the steps described in the related topics.
2. Ensure that each line item that you wish to include in an income schedule has the appropriate income schedule selected. To do so, in the Income Schedule field, select the appropriate income schedule for each line and click Save. This saves the selected income schedule and generates the income schedule lines for each.
3. [Optional] To view the generated income schedule lines, select a single line item with income schedule and click Edit Income Schedule on an in progress sales invoice and View Income Schedule on a completed sales invoice.

When there are multiple income schedules on a sales invoice and you want to edit, select only one line with the defined income schedule, click Edit Income Schedule and follow steps 1 to 5 as mentioned above.

Notes:

• For sales invoices with a single income schedule defined for all the lines, the Income Schedule Total value is the sum of the values in the Net Value field of the lines with the defined income schedule.
• When a sales invoice with at least one defined income schedule is ready to post or complete, you cannot edit the income schedule lines and only view them by clicking View Income Schedule.
• If you have specified values in the Number of Journals and Period Interval fields, these take precedence over any Income Schedule that you might have specified. So, if you edit the Income Schedule field and you want the details on the income schedule definition to be used, you must clear the Number of Journals and Period Interval fields before saving.
• Last unsaved changes on the sales invoice and income schedule lines are recorded and retained when using the same browser on the same computer.

Classic Edition

Note:

You cannot associate income schedules with a recurring invoice A special type of sales invoice that you enter only once but that causes several similar sales invoices to be generated automatically. Recurring invoices are typically used to request payment for regular bills, such as an annual maintenance agreement invoiced monthly. Alternatively you can use them to create invoices for scheduled monthly deliveries of products. in Classic Edition.

Single Income Schedule

To set up an income schedule for a sales invoice where all line items that are associated with an income schedule share the same schedule:

1. Create the sales invoice and line items following the steps described in the related topics.
2. Make sure that the line items that you wish to include in the income schedule all have the same income schedule selected. Use the lookup icon next to the Income Schedule field on line items to select the appropriate income schedule.
3. Scroll down to the Income Schedule section. An income schedule grid, showing the apportioned amounts for each accounting period, is displayed using the default settings from the selected income definition and included products.
4. [Optional] Clear the Income Schedule field to exclude line items. Select the same income schedule that is set in the Income Schedule section to include line items. Click Recalculate to apply these changes to the values in the schedule grid.
5. [Optional] Change the schedule start date, and/or any of the default schedule criteria, then click Recalculate to apply these changes to the values in the schedule grid.
6. [Optional] Change one or more accounting periods in the Year/Period column of the schedule grid.
7. [Optional] Amend one or more journal values in the Amount column of the schedule grid. Negative values are allowed.
8. [Optional] Change the action on one of more line items, from Post to Save.
9. Check that the Income Schedule Total equals the Schedule Net Total before continuing. If they do not, both values will be highlighted in red.
10. When you have finished, click Save. You can also click Save & New to save the changes to the current record and then immediately begin to create another.

Multiple Income Schedules

To set up multiple income schedules on a single sales invoice:

1. Create the sales invoice following the steps described in the related topics.
2. Make sure that each line item that you wish to include in an income schedule has the appropriate income schedule selected.
3. [Optional] Click on any line item to open its Income Schedule page. Here you can view and edit the income schedule for that line item. If you do not want to view or edit the income schedule for any line item, skip this step.
4. [Optional] Change the schedule start date, and/or any of the default schedule criteria, then click Recalculate to apply these changes to the values in the schedule grid.
5. [Optional] Change one or more accounting periods in the Year/Period column of the schedule grid.
6. [Optional] Change one or more journal values in the Amount column of the schedule grid. Negative values are allowed.
7. [Optional] Change the action on one of more line items, from Post to Save.
8. Check that the Income Schedule Total equals the Schedule Net Total before continuing. If they do not, both values will be highlighted in red.
9. When you have finished, click Save to save the changes the line item income schedule or Cancel to abort. This returns you to the sales invoice detail page.
10. When you have finished viewing and/or editing the line item income schedules, click Save to save the sales invoice or Cancel to abort. You can also click Save & New to save the changes to the current record and immediately begin to create another.

Extended Edition

Note:

Income schedules are defined at line item level.

You can associate income schedules with a recurring invoice A special type of sales invoice that you enter only once but that causes several similar sales invoices to be generated automatically. Recurring invoices are typically used to request payment for regular bills, such as an annual maintenance agreement invoiced monthly. Alternatively you can use them to create invoices for scheduled monthly deliveries of products., but if an invoice has an income schedule, you cannot use it as the basis of the recurring set.

Using the New Sales Invoice Line Item button

To set up an income schedule on a sales invoice item, using the New Sales Invoice Line Item button:

1. Complete the sales invoice header following the steps described in Creating a Single Sales Invoice from Scratch.
2. Add a sales invoice line item in the Sales Invoice Line Items section item using the New Sales Invoice Line Item button, as described in Sales Invoice Line Items .
3. Scroll down to the Income Schedule section.
4. The Calculate Income Schedule checkbox is selected by default. Leave it selected.
5. [Optional] If you want to pick up the income schedule information from the product record, leave the Use Product Information checkbox selected.
6. [Optional] If the product does not have income schedule information, or you want to specify an alternative, select an appropriate income schedule definition. This will override any information derived from the product.
7. [Optional] If you want to specify custom income schedule information for this line item, enter the individual schedule settings in the appropriate fields. These will override any information derived from the income schedule definition or from the product.
8. Add more lines as appropriate.
9. When you have finished, click Save. The income schedule lines are created.

Note:

If you have specified values in the Number of Journals and Period Interval fields, these take precedence over any Income Schedule that you may have specified. So, if you edit the Income Schedule field and you want the details on the income schedule definition to be used, you must clear down the Number of Journals and Period Interval fields before saving.

Using the Manage Lines button

If your administrator has added the following fields to the Manage Lines (Sales Invoice Lines) grid, you can define an income schedule by using a data-entry grid:

• Income Schedule
• Number of Journals
• Period Interval
• Start Date
• Calculate Income Schedule

If you don't see these fields on your Manage Lines grid, contact your administrator.

If you do not add the Income Schedule field to your field set, no income schedules are calculated.

If you add the Income Schedule field, but not the other four related fields, then default values are retrieved from the income schedule definition.

If you want to be able to override these default values, you must add the appropriate fields to the field set.

To set up an income schedule on a sales invoice item, using the Manage Lines button:

1. Complete the sales invoice header following the steps described in Creating a Single Sales Invoice from Scratch.
2. Add a sales invoice line item in the Sales Invoice Line Items section item using the Manage Lines button, as described in Sales Invoice Line Items .
3. In the Income Schedule column, select an appropriate income schedule definition.
4. Select the Calculate Income Schedule checkbox.
5. Add more lines as appropriate.
6. When you have finished, click Save. The income schedule lines are created.

Note:

If you have specified values in the Number of Journals and Period Interval fields, these take precedence over any Income Schedule that you may have specified. So, if you edit the Income Schedule field and you want the details on the income schedule definition to be used, you must clear down the Number of Journals and Period Interval fields before saving.

What will happen when the invoice is posted?

The Post Journals column on the Income Schedule Line Items related list are all selected by default. This indicates that the income schedule journals will be created and posted at the same time as the sales invoice. Any values that you have entered in standard analysis fields and in custom fields set up for sub-analysis mapping Mapping of custom fields at header and line level for the purpose of profitability reporting. on the sales invoice will be copied over to the resulting journals, and to the transactions that are generated upon posting.

When you post sales invoices using local companies and accounts and products associated only with local GLAs, journals are created using the local general ledger accounts. At transaction level, the information is reflected in the transaction line items through the mappings between the corporate GLAs and the local GLAs.

If you want to create the income schedule journals when the sales invoice is posted, but not post them, click To Save All.

You can edit this checkbox at an individual line level too, by editing the line item and deselecting the Post Journals checkbox.

Note:

If a currency adjustment journal is generated, it does not take its currency exchange rates from the sales invoice. Instead the exchange rates on the currency adjustment journal are calculated based on the actual difference.

If you are in a single-currency org, a create currency adjustment journal step is recorded in the worker log but nothing is actually created. This is applicable in Lightning also.