Projected Payments (or Projected Cash Receipts) are calculated by evaluating customer account payment history from your ERP system and are used to predict when an invoice will be paid.
For example "Customer A" may historically pay $5,000 to $10,000 invoices 3 days late. The software will see that "Customer A" has an open invoice of $7,000 and will calculate an projected payment for that invoice 3 days after the invoice due date.
Project payment dates will be calculated for every open invoice in the software for every customer. A sum of the projected payments is provided on the (My Accounts) page for projected payments in the next 7 days (Proj Pmts 7 Days), 14 days (Proj Pmts 14 Days), 21 days (Proj Pmts 21 Days), 28 days (Proj Pmts 28 Days), and 35 days (Proj Pmts 35 Days).
Projected amounts are summarized cumulatively providing a statistical view of cash flow from the next 7 to 35 days based on actual customer account payment history.
Additionally, you can get a breakdown of all projected payments records by navigating to (Inquiries > By User > Projected Cash Receipts). This will show you each projected payment for each invoice alongside the date and amount.