Split Invoices for Dynamics 365 Sales
Greater flexibility to easily spread costs for customers by invoicing the total price in multiple payments
Tailor payments terms to include as many line items as you need.
Create default payment terms for specific requirements or organisations.
Save time by not having to manually split out invoices each time this is needed.
Demonstrating Split Invoices for Dynamics 365
Video Transcriptopen transcript close transcript
This solution is very useful when you don’t want to bill a single invoice with a single value upfront; it’s a way of you…
This solution is very useful when you don’t want to bill a single invoice with a single value upfront; it’s a way of you splitting out payments for clients so that they can owe you X amount of money, but we will only collect so much now or in a month or two months time. You can split those payments out, decide how many payments and the frequency of that; all of which you can set in the payment terms.
For the purpose of this video, I’ve set this to work off an order, but it can be set to work off opportunities, quotes or any custom entities where you need to split out a single payment into multiple payment lines.
So, I’ll click onto an order, and as part of the solution there is a look-up field on the records where users can view and decide on payment terms for that individual case – based on the value of the order.
If I click into the “Payment Terms” lookup field I can see what the options are, for example this three-month payment term which I will select, and I will select for this to be billed immediately/ as of today. This date can be changed and determines the first payment date. Once that is specified, click save and a “Create Split Invoices” option will appear in the top ribbon, which you can now click.
As the payment terms have been set up to be three months, and the total amount of sale value has been set, as soon as the “Create Split Invoices” option is clicked a green notification will appear to say that it has been done successfully. Then refreshing the record, will show three invoices generated against the record, which are also visible as individual invoices in the “Invoices” area.
The payments have been split out, the first one starting today, is because it aligns with the payment terms previously set. Therefore, the second invoice will go out in 60 days and then the third in 90 days.
Clicking into the payment terms you can edit, the name of the payment term, whether it is based on the amount or quantity, and the number of lines items (invoices required). In this particular payment term, it is showing that 20% is due upfront, 30% is due in 60 days and the remaining 50% balance in 90 days times. So, in three month we will take all of the payment.
However, it can look very different. The payment could be over 12 months, there could be more line items to split the payment more. You can set it up and this then becomes a template moving forward.
If I create a new line item, to show you what it looks like. You have to specify the percentage and decide when that invoice is due. If I say upfront, then that becomes an immediate payment of the percentage value set. If I pick “X days before”, I can set it to say 5 days. That creates an invoice to go out 5 days before it’s due. “X days after” is also an option.
The last option is “Manual”. This won’t set a due date, as it allows you to say okay this is how much I want to collect but the due date of the invoice won’t be set. This will now be down to yourselves to fill this yourself after key milestones or the finishing period, when it has now come to the time to collect the payment.
That’s how we do split payments from an order, and again you can have this on any entity that you like. One thing that is really useful it that you can set up default payment terms. For example, an organisation wants to purchase something for us, and because they are a gold account, they get preferential payment terms. You can have as many different payment terms against a specific organisation. Then, if you create a new order, or any other entity you have it set on, it will automatically set the payment terms based on the default payment terms.
Thanks for listening and if you’re interested in this solution, please sign up to our Managed Service, or get in touch with more details.
How Split Invoices Works
This solution works on opportunities, quotes, orders, or any custom entities where there is a requirement to split payments.
Once a payment term and an anchor payment date are set, an option to “Create Split Invoices” will appear in the ribbon. When clicked, an automated process will run to create multiple invoice records in line with the defined terms and payment date. The complete invoice schedule will then be shown in a sub-grid on the main record.
Each Payment Terms record controls how the total payment shall be split. This will detail as many payment line items as required to define the appropriate percentage split of the total amount and the due date. For example, each payment line item can be set for immediate payment or due in a fixed number of days before, or after, the specified payment date. Alternatively, some line items can be set for manual terms enabling users to control when these invoices will be issued.
Default payment terms can be set at organisation level. When applied to an account, these default terms will automatically be set whenever a new order, or other supported record type is created.
Use this solution to simply and easily create bespoke schedules that flexibly spread payments across multiple invoices in even, or weighted, amounts.
How to Deploy Split Invoices
Split Invoices Pricing
Split Invoices is one of many solutions that are available at no additional cost as part of Preact's Elevate 365 Managed Service. This can also be purchased using our Solutions 365 subscription from £8.25+VAT per user / month which provides full access to all the packaged products in Preact's Solutions Hub.
Further solutions which can be deployed using either of these subscriptions include:
Bank Account Validation
HTML Table Designer
Drag & Drop Sub Grids
Editable Quick Forms
Price List Manager
Current Date Setter
Parent Visual Lookup
Contact us today to find out more and deploy Split Invoices in your Dynamics 365 Sales environment.