Process Payments Using Payment Schedules

Available in: Lightning Experience

Available in: Professional, Enterprise, and Unlimited Editions where Insurance Brokerage is enabled

Payments are processed through Payment Schedules and Payment Schedule Items, which together define how and when invoice balances are collected. You must add a saved payment method to collect payments for invoices.

When an invoice is posted, the system can automatically create a Payment Schedule that represents the payment request for that invoice. Each Payment Schedule contains one or more Payment Schedule Items, which represent individual payment amounts and target processing dates.

Only Payment Schedule Items that meet both conditions are eligible for processing:

• The Payment Schedule status is Open
• The Payment Schedule Item status is Ready for Processing

Payments are executed using the Payment Scheduler, which processes eligible Payment Schedule Items and creates Payment records. Each successful payment:

• Debits the associated saved payment method
• Creates a Payment record
• Applies the payment to the invoice or invoice lines, based on the configured payment application level

After payment processing:

• Payment Schedule Items move to Applied
• Payment Schedules move to Completed
• Invoice balances are reduced accordingly

Payment processing relies on posted invoices, active payment schedules, and valid saved payment methods. These records together ensure accurate settlement and reconciliation of invoice balances.