Customer Payment
Every Business transaction end with financial transactions, Let's say the Payment is the final step of every successful invoice. We can create a Customer payment to complete the Sales invoice and which will be helpful to mark the transaction completed. Its easy to record payment from customers.
To create a sales Customer Payment, go to Sales > New > Customer Payment. Or you can view any Sales Invoice and from there you can see a payment icon to Record payment against that particular invoice.
Record Payment
For non-cash payment term invoices and pre payment orders are all will be listed here. You can allocate payment to customer's specific invoices, and also it can be created without allocating to the invoices, Later you can able to allocate the payment against the invoices.
Sometimes Sales Credit Note and Journal entry level payments also can be created and also allowed to allocate it against the invoices. If you are looking to make payment for journal entry its possible to do it from that payment screen. Example customer opening balance can be also allocated in the future invoices with this payment screen.
Bank Accounts
You can record payment against different bank accounts such as Cash account, Savings bank account like bank to bank transfers, wire transfers, mobile payments, etc. And also other currency bank accounts also you can use it from here.
Bank Charges
Some higher volume of amount or some other payment gateway charges are applied to the sales prices, lets say if you are selling it for 1million, and there will be payment gateway charge like 3% from the total transaction cost. it will be vaired based on gateway, we just provided it as example.
Discount
Sometimes you offered discount in the invoice amount, that case you can use this, it usually happens when you are giving invoice more than the rounded amount example, 50,010 , Here the customer usually pay 50,000 only we should go with discounted amount of 10 here.
Round Off
It's just opposite to the discount, suppose if you invoiced for 49,990. And you are receiving 50,000. it's a round of amount, you can use it to discount GL. So that can be fluctuated based on the invoices, and payments.
Dates and Reference
Each Payment inside the system recorded with unique reference. So this reference helps to track the payment records. And also you can change the Payment date to certain period, If the GL close is not rounded, you can put old dates as well in the payment. The Reference also updated based on financial year which you apply in the date. Usually the Reference follows a sequence based on Financial Years.
Other Currencies
Suppose if your home currency is different and the international gateway based transfers can be recorded in other currency bank accounts. in that case you can record the settled amount in the currency, and also home currency value in it. And allocate the payment against the invoices.
Allocation and Un-Allocation
The allocation of invoice can be changed anytime against the invoices. You can checkout the Allocations tab from sales and make changes.