Specify payment schedules/payment plan on Purchase Orders for material purchases.
We have a requirement, wherein purchase is made for machinery/ material from a Supplier. And payment is split in schedules , for example - 10% payment will be done as PO is issued, 50% will be done when material is shipped by Supplier and remaining 40% will be done once material is inspected by quality team.
These schedules are agreed upon and printed on POs. And invoice is received and paid against these schedules.
Is there a way in which this requirement can be implemented in Oracle, with controls in place between PO and Invoice.