By adding custom fields, you can easily manage payables that are contingent on receiving payment for a particular billing. This simple example demonstrates how you can use Accounting Seed to track and automatically mark an outstanding payable "Ready for Payment" when a contingent billing has been paid in full. Of course, the formula in the formula field can be altered to meet other payment parameters.

Step #1

Add three fields to the Payable object and page layout:

A.) a checkbox named “Pay When Paid” with a default of unchecked. When checked, it will identify that the Payable should not be paid until a contingent billing has been paid.

B.) a lookup field named “Contingent Billing” to relate the billing and the payable.

C.) a formula field (checkbox) named “Ready for Payment” with a formula that checks the box when the balance on the contingent billing equals zero. (Contingent_Billing__r.AcctSeed__Balance__c = 0)

Detailed Instructions (Lightning View) to add a new field to an object:

  • Access Setup by clicking the gear icon in the upper, right-hand corner.
  • Select the Object Manager tab
  • Scroll down and select the object you’re adding the field to. (In this case Payable)
  • Select the Fields & Relationships tab (left-hand side)
  • Select the New button (upper, right-hand)
  • Follow the steps to setup -- identifying the field type, field label (field name will automatically populate), desired field-level security, and page layout selection.


Step #2

Create a new Payable list view that filters by “Pay When Paid” to monitor and manage payment of your Pay When Paid payables.

 

 

 

 

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