Incoming Partial Payments By Partial Payment Method
Now we see the same incoming partial payment by partial payment method. Okay, we’ll see what is the difference now.
Okay, I have to create a document first. Let me quickly create another one. 10001. No tax. Let’s save it. We’ll see a warning message. Tax account, you need to enter tax code because we already set the tax category to output tax for this G/L account, just ignore it, so now I can post it.
So, this is our new document ending with 8. Let us go to payment screen, F28, incoming payment, enter the bank account, and the amount will be 200, let us put 300 now, and the account will be this one.
Alright, so you process items. Now this time, ending with 8, this is the one, let me remove the cash discounts again, I don’t apply any cash discounts. So, in the earlier session, we went to residual items, right? Now, we’ll see how we can do it with partial amount. Double click that, so it’s selected. We go to partial amount tab, payment amount is 1000, we change it to 300, which is our payment amount, so what is not assigned is 700. Let us simulate.
It’s asking for due date. Again, put in the due date. Just copy and paste. Okay, simulate. Simulate again. So it’s now only 300 is paid by customer B and 300 goes to cash in bank. The 700 is not displayed anywhere. Okay, let us see what is the difference.
Now it’s posted. We go to our line items display and I refresh it. Okay, what it shows is that our document number is 400142, which is here. 300 is paid, and our invoice document ending with 8 is still here. It’s not clear like what happened in the residual payment method. So this means that this is the payment amount, 300 has been applied again, the 1000, but the invoice document is not cleared. It’s still red. How do I know these two documents are linked together? Because this document is supposed to be the payment amount for this invoice document, so how do I know that this link exists?
Okay, there’s a trick to find out the link. You just go here, columns screen and look for a field called invoice. Do you see this invoice reference? This is the field which is going to help us. Just pull it into the display list. It’s available here now, P, so it’s added to the last part of the report. Do you see this invoice reference? Now, we go to the payment document which is this 300, right? What is the invoice reference? 180008. This document refers to this document, the invoice document. So using this link, see the cross-link here, this means that this payment document is linked to this document here. So this means that this payment document is a payment for this invoice. This is how we will know. Using the invoice reference field, we can build a link between the payment document and the actual invoice document.
Alright, the major difference between residual payment method and a partial payment method is in the residual payment method, the original invoice is cleared and moved to the cleared list here, and the balance amount between the payment amount and the invoice amount is created as a new invoice document, which is this, 800. But here, the balance of 1300 which is 700 is not even created as a new document.
Alright, depending on the customer’s interest, you can actually propose a residual payment method for partial payments or partial payment method for partial payments. Then for full payments, it doesn’t really matter because if you make a full payment, the invoice document will be cleared and moved to the cleared list.