PO amount to be paid in Installments


I have Vendor who is going to rebuild a small portion of our office,

the payment for this job will be in 3 parts,

  1. 40 % advance

  2. 50% on completion

3.10 % after 30 days after completion of work. I prefer to create a single line item (Service item) in the PO,

How would i setup the payment terms for this scenario,

Another question is if I am supposed to pay an amount to a Vendor in equal installments for 12 months for a specified amount say 100,000 each, how can i setup this.



for 12 months same fixed amt, you can create payment schedule for 12months not a payment method

payment schedule for 12 months or period jounal you can use.

for 40% Advance amt you can use prepayment chq box to recognize as advance payment