Using Customer Payments

Fields in first Section

New: Default status when creating a new Payment.

Not Received: In case a payment processor fails to acknowledge the payment transaction successfully, this field is set to Not Received.

Received: The Status field is updated to Received:

• When the payment processor successfully processes the Payment.
• When a user performs Receive Payment Without Processing action. Refer to Customer Payment Document: Settings section.

Fields in Payment and Credit Section

Invoices tab

Displays a list of current and unpaid Sales Invoices along with Unused Payment and Unused Credit fields.

Unused Payment: Initially this field will have the same value as the Amount Paid field above.

As payments to invoices are allocated, this amount will decrease accordingly.

Unused Credit: Initially this field will indicate any credit that is available.

As credit is allocated to invoices, this amount will change accordingly.

If not all the credit is used, this field will retain the residual value for future allocation to new invoices.

The Sales Invoices table is discussed below:

You can set a payment discount using this field. This will change the value in Amount to Pay field.

Set the document in Edit mode and click on the pencil icon to edit this field. A popup window with the following details are available:

• Payment Date: Tax date of the Sales Invoice.
• Due Date: Payment due date.
• Terms: Payment terms applicable for the the Customer.To check this, go to: Sales > Customers > Select Customer > Profile tab > Trading Information section > Terms

  To learn more, see Using Payment Terms

• Discount for Terms: If early payment discount is defined under Payment Terms then the exact discounted amount applicable will be calculated and displayed in this field.To check this, go to: Accounting > Payment Terms > Select the Terms set for the Customer > Early Payment Discount section.

  For example: If an early payment discount of 10% is defined for payment within 10 days of issue date against an invoice amount of $2000, then Discount for Terms field will show a value of $200 within 10 days of the invoice/tax date.

  To learn more about payment terms, see Using Payment Terms

• Account: Select the GL Account where the discount has to be posted in the General Ledger. e.g. Sales Discounts under Income in the GL.To set the default account for Customer Discounts, go to:

  SETUP > Configuration > Accounting > Accounts > Edit > Default Accounts section > Customer Payment Discounts

• Class: Select a class in case classifications are defined. Refer to Using Classifications

• Discount to Apply: Actual discount amount applied and posted to the GL. This value cannot be greater than the Amount to Pay(Invoice Amount) field.

From an accounting perspective, this field allows you to put a portion of the amount that is being paid to a different account.

This reduces your work in terms of making manual journal entries once payments are received.

This does not change the value in Amount to Pay field.

For eg. If Amount to Pay(invoice amount) is $1000 and you pay 2% of the amount i.e. $20 as payment gateway charges, then using the Charge field you can put $20 in an expense account and remaining $980 in an income account.

Set the document in Edit mode and click on the pencil icon to edit this field. A popup window with the following details are available:

• Account: Select the GL Account where the charge has to be posted in the General Ledger.e.g. Bank charges or Card Charges under Expense in the GL.

  To set the default account for Customer Charges, go to:SETUP > Configuration > Accounting > Accounts > Edit > Default Accounts section > Customer Payment Charges

• Class: Select a class in case classifications are defined. Refer to Using Classifications

• Charge to Apply: Actual charge amount to be applied is defined here. This value cannot be greater than the Amount to Pay(Invoice Amount) field. This is the value that gets posted to the GL.

From a credit note or unused payment.

This field is editable.

The amount to be applied to this Invoice.

This field is editable.

Allocate Credit tab

This tab displays a list of all the available Customer Credit Notes:

Payment Method

This tab is used to record details about the payment made by the Customer.

Payment Method: Payment method used by the Customer to make payment.

By Credit Note and/or Unused Payment only

Use this option, when there is no payment, and you just want to apply an Unused Payment or Credit balance to outstanding Invoices.

Credit Card

Must be selected to process credit card payments (no need to enter credit card details here as they will not transfer when processing the payment).

Check

Select To Account and enter check number in Reference field.

Cash

Select To Account, enter details in Reference & A/C memo fields.

e-Check/ACH
Must be selected to process ACH payments.

Select To Account, enter details in Check Number, Account Number, Transit Number.

Direct Debit | Standing Order | IBAN | Electronic Transfer | Other

Select To Account, enter details in Reference & A/C memo fields.

Payment Processor: Payment Processor used for this Payment.

Salesorder app supports the following third party card processing systems –

• PayPal.com
• Authorize.net
• ParagonSolutions.com
• CyberSource.com
• USAePay.info

Refer to Setup Payment Processors

Integrating a new card payment system, other than the ones listed above, takes up to 4 weeks in design, development and testing.

Contact support@salesorder.com for more details.

Process Status: The status of the Payment Processing.

The values are:

Not Processed: No action (authorization | capture) taken.

Accepted: Payment has been accepted.

Rejected: Payment has been rejected.

Reference: A unique reference or ID such as the check number or card transaction number.

Filling in this field with the unique number that appears on your bank statement will make reconciliation of your bank account simpler.

Deposit to: If this field is checked, then the amount paid will be recorded into the account you specify in the To Account field.

If this field is unchecked, the amount paid is recorded in the Non-Deposited Funds account, which can then be deposited into a Bank Account at a later time.

Refer to Bank Deposits

To Account: Specify which account the amount has been paid into.

Use this option, only when the amount has been paid directly into an account other than Non-Deposited funds.

Notes

Classification