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Payment

     

 

You can payment by installments or Cash in an order document.

 

Table of contents

  1. Payment - Installements
  2. Payment - Cash

1. Payment - Installements

You can also specify payment by installments in an order document. The Installments tab, where you can enter and calculate installments, contains the following information: 

  • In the middle section, you can enter parameters for creating installments (number of installments, installment due dates, due date of first installment)
  • In the left part of the panel, you can view individual installments
  • In the right part of the panel, you’ll find the total value of installments and any paid amounts.

But keep in mind:

  • that an “installment” with the sequential number 0 is created for a part of the payment that was possibly paid with a cash receipt so that this (already paid) part of the invoice will not be charged again;
  • That any installments paid in other ways can also be entered manually (for example, a part of the payment can be set-off, so the set-off amount will not be divided into installments);
  • That you can create an installment for the remaining amount using the procedure described below.

1.1. Parameters for Creating Installments

Invoice date The Invoice date field fills-in with the date the order is valid until. This date is used as the date of the amount due that was paid in cash.
First installment due The First installment due field fills-in with the date, the first installment is due to pay. By default it is the date of the order, but it can be changed.
Installment frequency In the Installment frequency section you select the unit for next amounts to be due. You can choose among Day, Week or Month.
Interval In the Interval field you enter the period for the amounts to be due. It can be expressed in day, weeks and months as defined in the Installment frequency section.
No. of installments In the No. of installments field you enter in how many installment the invoice will be paid.
Enter Share Enter the proportion based on which we create installment payments. The program will create as many installments as it calculates based on the entered share, the difference will be corrected in the last installment. In this case, the Add tax to the first installment tick is also not visible.
Add Tax to First Installment When creating installments, the program will automatically add the tax amount to the first installment.
Installement Frequency
  • Day
  • Week
  • Month

(Create installments)

When you click on the Create installments button the program will create installment and date they are due at. If the amount cannot be divided to equal installment, the difference will be calculated at the last installment. When the procedure is completed, the program reports (see Installments created!).

If you have exceeded the maximum allowed number of installment, the program will report an error (see Maximum number of installments has been exceeded (%s)!).

(Delete installments)

If you do not want installment or you have created  wrong installments and want to create new one's, you can delete the with a click on the Delete installments button.

 

1.2. Information on Installments

On the left of the tab is a table with lines where you can see how installment will be paid. 

Amounts and dates of created installments can be changed. You can also enter manually dates, payments will be due, and amounts without the function for creating installments (i.e. when amounts for installments are not symmetrical).

No. In the No. (number) field is the consecutive number of the installment. Installments are numbered with consecutive numbers from 1 forward. If a part of the invoice was paid in cash, has this payment the number 0.
Date In the Date field is the date for the amount of the certain installment to be due.
Amount In the Amount field is the amount for the individual installment.
Payment Method In the Payment Method field is the ID of the certain payment method. This ID is by default equal to the one entered on the document. It is of more informational nature here.
Confirmed The Confirmed box defines whether the payment was already confirmed and is used when reporting special payment orders. When you are creating special payment orders for a certain period and you confirm the, individual installments in the field for installment calculation are confirmed as well. Special payment orders cannot be created for confirmed installments!
You can confirm individual installment manually as well (i.e. if an invoice was partially prepaid or partial payment in cash).
Reference The value is filled if Create reference is marked in the code book of document types.
Share Proportion for installment payments.

 1.3. Information on Values

On the right side of the Installment tab are total values of payments:

To Pay In the To Pay field is the total amount of the invoice that is to be paid.
Paid cash In the Paid cash field is the total amount of the invoice that was already paid in cash (through cash receipt).
Paid Prepayment In the Paid prepayment field is the total amount of the invoice that was already paid in cash (through cash receipt).
Remaining In the Remaining field is the difference between the value in the to pay and the total value in Installments total field. With the use of this field you know which values to assign for installments if you are entering values manually. After you have finished entering installments the remaining must be equal to 0!
The entry cannot be completed till the remaining is not equal to 0, and the program will report an error (see The sum of installments must be equal to the payment!).

 

2. Payment - Cash

WARNING

According to the law, for cash payments through a preliminary invoice you must also issue an invoice (no later than 8 days after you received payment) or create a prepayment invoice.

 

WARNING

To create cash receipt successfully, it is required to define the payment method in the header of the sales order (see Sales order header)!. If information is not defined the program reports an error (see A payment method must be specified!).

      

WARNING

You can select the document type for the cash receipt for the cash payment:

  • in document type setting;
  • or if it is not defined in document settings, the program will use the document type for the cash disbursement that was determined in Program parameters (AP | Settings | Program parameters | Financials | General).

If document type is not defined neither in document type settings nor in program parameters (AP | Settings | Program parameters | Financials | General), the program reports an error (see The document type for cash receipt must be defined!).

In the Cash tab, you can find information about any links between the sales order and a cash receipt, that is, a cash payment. When you click the Payment button in the Cash tab, a cash receipt will be created directly from the order if the customer is paying with a prepayment and in cash  (for more information see Cash disbursement). With a double click on the desired document you can directly open the  cash receipt.

To use this function, a payment method must be selected.

In order to reduce the possibility of errors, a cash receipt will be created in the default currency listed in the program parameters, regardless of the currency entered in the issue document.

Cash register doc. The document, which is the cash registar document.
Line It displays the consecutive number of the item.
Name Enter the name or description for the cash receipt. In automatic posting this information is entered in the journal entry line more precisely to the section for notes.
Document The document, which is the basis for posting.
Payment method The payment method code (from the Payment Methods register). By default the selected payment method may be entered in the Document Types register. The payment method entered here shall be used as the default value in the cash receipt lines.
Sum The total amount of payslips or checks received.
Account Here is the account to which the posting was performed.
Currency The currency in which payment is made is entered here.

If a cash payment is also linked to an order, the amount of the received payment will also be reported in the order, that is, subtracted from the amount. 

Further information on cash procedures are available in the Goods module.

 

Related topics:

Installments

Installments

Installments

010379.gif010380.gif010381.gif010411.gif010382.gif010383.gif

You can also specify payment by installments in an order document. The Installments tab, where you can enter and calculate installments, contains the following information: 

 

  • In the middle section, you can enter parameters for creating installments (number of installments, installment due dates, due date of first installment)
  • In the left part of the panel, you can view individual installments
  • In the right part of the panel, you’ll find the total value of installments and any paid amounts.

But keep in mind:

  • that an “installment” with the sequential number 0 is created for a part of the payment that was possibly paid with a cash receipt so that this (already paid) part of the invoice will not be charged again;
  • That any installments paid in other ways can also be entered manually (for example, a part of the payment can be set-off, so the set-off amount will not be divided into installments);
  • That you can create an installment for the remaining amount using the procedure described below.

 

 

Parameters for Creating Installments

Invoice date The Invoice date field fills-in with the date the order is valid until. This date is used as the date of the amount due that was paid in cash.
First installment due The First installment due field fills-in with the date, the first installment is due to pay. By default it is the date of the order, but it can be changed.
Installment frequency In the Installment frequency section you select the unit for next amounts to be due. You can choose among Day, Week or Month.
Interval In the Interval field you enter the period for the amounts to be due. It can be expressed in day, weeks and months as defined in the Installment frequency section.
No. of installments In the No. of installments field you enter in how many installment the invoice will be paid.
(Create installments)

When you click on the Create installments button the program will create installment and date they are due at. If the amount cannot be divided to equal installment, the difference will be calculated at the last installment. When the procedure is completed, the program reports (see Installments created!).

If you have exceeded the maximum allowed number of installment, the program will report an error (see Maximum number of installments has been exceeded (%s)!).

(Delete installments) If you do not want installment or you have created  wrong installments and want to create new one's, you can delete the with a click on the Delete installments button.

 

000001.gif In program parameters you select default values for creating installments: installment frequency, interval and  maximum number of installments.

Information on Installments

On the left of the tab is a table with lines where you can see how installment will be paid. 

Amounts and dates of created installments can be changed. You can also enter manually dates, payments will be due, and amounts without the function for creating installments (i.e. when amounts for installments are not symmetrical).

No. In the No. (number) field is the consecutive number of the installment. Installments are numbered with consecutive numbers from 1 forward. If a part of the invoice was paid in cash, has this payment the number 0.
Date In the Date field is the date for the amount of the certain installment to be due.
Amount In the Amount field is the amount for the individual installment.
Payment Method In the Payment Method field is the ID of the certain payment method. This ID is by default equal to the one entered on the document. It is of more informational nature here.
Confirmed The Confirmed box defines whether the payment was already confirmed and is used when reporting special payment orders. When you are creating special payment orders for a certain period and you confirm the, individual installments in the field for installment calculation are confirmed as well. Special payment orders cannot be created for confirmed installments!
You can confirm individual installment manually as well (i.e. if an invoice was partially prepaid or partial payment in cash).
Reference  

 Information on Values

On the right side of the Installment tab are total values of payments:

To Pay In the To Pay field is the total amount of the invoice that is to be paid.
Paid (cash/prepayment) In the Paid (cash/prepayment) field is the total amount of the invoice that was already paid in cash (through cash receipt).
Remaining In the Remaining field is the difference between the value in the to pay and the total value in Installments total field. With the use of this field you know which values to assign for installments if you are entering values manually. After you have finished entering installments the remaining must be equal to 0!
The entry cannot be completed till the remaining is not equal to 0, and the program will report an error (see The sum of installments must be equal to the payment!).
Installments total In the Installments total field is the current sum of installments to pay.
020647.bmp
(Special Payment Orders)
With a click on the Special Payment Orders button you can report individual special payment orders for each single installment if more were created. 

To create installment with restriction criteria (i.e. all special payment orders that are due to pay in a certain month) see special payment orders.

 

Amounts and dates the payments are due are reported at the bottom of the invoice. In this way the customer is informed with installments and their dates:

40047.gif

000001.gif The value in the To Pay field cannot be change when you are creating installments. If you want to increase the amunt due to payment in installments, you have to change the amount on the document, before you are creating installmetns!

 



 

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