How can I MIGO an asset once and Pay installments.

[Former Member]

Hello,

   We have some assets we do receive once (MIGO) and need to pay partially there after ( not exactly installments but vendor invoice in partial amounts )

example if we receive a vehicle amount $25000 we need to MIGO once  so that the whole amount will post to the asset . and need pay partially ex : payment 01 5000, payment 2 10000, payment 03 10000. How can I do that? Right now how we have a system set up is to use ZLS- lump-sum(enter qty is 25000 and price  and can receive multiples and pay multiples. (ex: Payment 01 MIGO 5000 and MIRO 5000 , payment 02 MIGO 10000 and MIRO 10000, Payment 03 MIGO 10000 and MIRO 10000). The issue here is that the depreciation is incorrect since we have multiple MIGOs. I read about the partial invoice plan. But we need Goods Receipts and do not use frame work orders. Is there any other options ?

Thanks,

Raneetha.

[Former Member]

hi,

If only requirement is to pay the vendor in installments, create proper payment terms and assign it to the vendor. which will ensure payments are made as required.

hope this helps.

[suma_mani]

Dear Raneetha,

Create Asset Under constructing asset ,which is 0% depreciation rate > After completing the Goods receipt of AUC asset ,you can transfer whole amount to Direct asset.

Regards

Mani Kumar