These two functions appear to accomplish very similar things in IFS. Are the only differentiations that one manages at PO header level (other at PO line level) and templating option (vs not)? If so why does Payment Schedule exist and not been deprecated?
Curious to hear how others are using one or the other or both at same time.
Hi
I believe the Payment Schedule offers more functionality than the Stage Payment. The Stage Payment functionality has certain known limitations.
As you mentioned, a payment schedule allows you to enter down payments and retentions related to a purchase order header. It supports direct payments or advance invoices that need to be amortized with the final invoice. If retention is specified in the payment schedule, you must match the retention line with the final invoice.
On the Payment Schedule for Purchase Order page, you can view the planned, matched, and amortized amounts, along with the connected invoice lines. Therefore, the Payment Schedule functionality provides a wide range of features.
regards,
Piyal
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