An Invoice Payment is a payment that is taken on Invoice(s) from a Customer. It can include discounts and can be used to pay more than 1 Invoice at once. Use the Invoice Payment module to record such a payment.
The Invoice Payment Module
Invoice Payment Fields
- Select Store: Choose the sale store for which you want to pay the invoices.
- Customer: Search for a Customer whose Invoice(s) will be paid.
- Payment Date: Select the date of payment.
- Payment Method: Select the payment method.
- Deposit Account: Select the Deposit Account for the payment.
- Exchange Rate: If it is a foreign customer, the exchange rate for the payment can be edited here.
- Payment Amount: Enter the payment amount.
- Reference#: Enter a reference number here if required.
- Reference 2 / Cheque No#: Enter another reference number or cheque number here.
- Memo: Enter a memo for the payment if required.
- Discount: Open this window by clicking on the amount underneath the discount column:
- Customer: The invoice’s customer.
- Ref Number: The invoice’s Ref Number.
- Original Amount: The original balance due on the invoice.
- Invoice Number: The invoice number.
- Invoice Date: The invoice’s date.
- Amount Due: The remaining balance is due on the invoice.
- Payment Date: The Payment Date selected from the previous screen.
- Discount Date: The discount date of this invoice. This date is calculated from the invoice’s due date and its payments terms. If payment is made within this date, the customer is eligible for a discount.
- Payment Terms: The invoice’s payment terms.
- Discount Used Previously: The sum of any previously applied discounts to this invoice.
- Suggested Discount: The system will automatically suggest you a discount to apply on this invoice based on the due date, payment terms, and payment date.
- Discount Amount: Enter a discount amount here.
- Discount Account: Select a Discount Account here.
The Options button gives the 2 features below:
- Apply Batch Discounts: This feature will apply any available discounts for the customer’s invoices. Make sure the Payment Date is entered, select the invoices for which you want to apply the discount, now click Options -> Apply Batch Discounts. Now select a Discount Account and click Apply Batch Discount. You will now see an amount underneath the Discount column for the applicable invoices.
- Reset All: This will reset all payment amounts and discounts for all invoices.