Contents

Adding Receivable Schedules

Editing Receivable Schedules

Deleting Receivable Schedules

Receivable Schedules are a company’s collection methods for receiving payments. You can manage your company’s Receivable Schedules in the Receivable Schedules application, which is in the Automation module.

This document shows you, a Planning Maestro user, how to add, edit, and delete Receivable Schedules.

Please Note: Planning Maestro’s Recognition Schedules, Payment Schedules, and Receivable Schedules all work together. Recognition Schedules assign an amount to certain periods, quarters, or years. Payment and Receivable Schedules decide which GL Accounts the transactions debit and credit for each Recognition Schedule.

You can manage your Payment and Recognition Schedules through the Automation module.

Locating Receivable Schedules

To manage Receivable Schedules, open the Automation module and select Receivable Schedules.

The Receivable Schedules page opens.

Planning Maestro has four preset Receivable Schedules:

• Cash – For payments you receive immediately in cash, in the same period the expense occurs.
• Non-Cash – For payments you receive immediately as something other than cash (an inter-company transfer, barter, etc.), in the same period the expense occurs.
• One Period (30 Days) – For payments you receive in cash one period after the expense occurs.
• Two Period (60 Days) – For payments you receive in cash two periods after the expense occurs.

 Use this page to add, edit, and delete Receivable Schedules.

Adding Receivable Schedules

Step 1: To add a new Receivable Schedule, on the Receivable Schedules page, click + New Receivable Schedule.

Step 2: A New Receivable Schedule pane opens on the right.

Enter the following information in the fields below.

Name – Enter a name that you and other users can easily understand in this field.

Description (Optional) – Enter a description for this Receivable Schedule in this field.

Recognition Schedule – Click on this dropdown menu and select a Recognition Schedule for this Receivable Schedule. The Recognition Schedule you select determines how the amount for a line item is recognized or assigned to certain periods; this Recognition Schedule simply determines which GL Accounts the amount debits and credits.

Payable (GL Account) – Click on this dropdown menu and select a Payable GL Account for this Receivable Schedule.

Cash –

• To make payments that use this Receivable Schedule cash payments, leave this toggle switch in the ON position.
• To make payments that use this schedule non-cash (a barter, intercompany transfer, or other transaction that does not use cash) click on this toggle switch to turn it to the OFF position.

Cash (GL Account) – This menu only appears if you enabled Cash above. Click on this dropdown menu and select a Cash GL Account for this Receivable Schedule.

Apply Discount – To add a discount to this Receivable Schedule, click on this toggle switch to turn it to the ON position. If you turned this toggle switch ON, new fields appear below: 

Apply Discount – To add a discount to this Receivable Schedule, click on this toggle switch to turn it to the ON position. If you turned this toggle switch ON, new fields appear below:

• Discount Type – Click on this dropdown menu and select a type for this discount:
• Fixed Number – Select this option to make this discount a fixed amount (for example, $50).
• Percent – Select this option to make this discount a percent of the total payment (for example, 15%).
• Tiered Rate – Select this option to make this discount a Tiered Rate, or a rate that varies depending on the amount. If you select this option, a Tiered Rate dropdown menu replaces the Discount field below (see the next section of this document).

Example: 10% discount up to the first 100 units, a 15% discount up to 200 units, and a 20% discount for any amount greater than 200 units.

Discount (for Fixed Number or Percent discounts) – Enter the amount of the discount in this field (the number or percent).

• Tiered Rate (for Tiered Rate discounts) – Tiered Rates increase or decrease when the unit being measured reaches a certain amount (such as a number of items in an order, or kilowatts of electricity used per month). Tiered Rates can have many “thresholds,” or amounts which trigger the change in the rate. Click on the Tiered Rate dropdown menu and select a Tiered Rate from the list.

• Discount (GL Account) – Click on this dropdown menu and select a GL Account for this discount.
• Deferred Discount (GL Account) – Click on this dropdown menu and select a GL Account for this deferred discount.

To save this Receivable Schedule, click Save & Exit.

• The Receivable Schedule is saved.
• A confirmation message appears.

Editing Receivable Schedules

Step 1: To open the Receivable Schedules application, follow steps 1-3 above.

Step 2: Select the name of the Receivable Schedule you want to edit.

Step 3: The Payment Schedule’s information opens on the right. Edit as needed and click Save & Exit.

• Your changes are saved.
• A confirmation message appears.

Deleting Receivable Schedules

Please Note: You cannot delete the default Receivable Schedules.

Step 1: To open the Receivable Schedules application, follow steps 1-3 above.

Step 2: Click the Delete icon (  ) under the Receivable Schedule you want to delete.

Step 3: Click Confirm.

• The Receivable Schedule is deleted.
• A confirmation message appears.

Please Note: If you try to delete a Receivable Schedule that a Revenue line item currently uses, you receive this error message:

To delete this Receivable Schedule, remove it from any line items that use it, and then repeat steps 1-3.