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All transactions affecting the AR/AP balance, are sorted by due dates and recorded among Payment Collection Transactions.

If the transaction is a cash transaction such as cash payment, collection or bank money order, or a transaction not connected to a payment plan such as debit/credit notes, the due date of the transaction in the payment collection transactions is equal to the transaction date. This transaction is recorded as a single transaction performed at the given date.

1. Payment Transactions in Purchase Invoices: Partial Payment / Average Payment
Partial Payment

If the purchase invoice is related to a payment plan, the invoice amount is first divided according to the number of payments and due dates defined in the payment plan, and then recorded among the payment collection transactions as multiple transactions. The transaction is displayed as such in debt tracking transactions as well.

Average Payment

If the purchase invoice is related to a payment plan, the average due date for the payment of the whole amount is calculated using the weighted average method and by processing the number of payments and due dates defined in the payment plan. The purchase invoice is recorded among the payment collection transactions as a single transaction at the calculated due date. The transaction is displayed as such in debt tracking transactions as well.

2. Payment Transactions in Sales Invoices: Partial Payment / Average Payment

Partial Payment

If the sales invoice is related to a payment plan, the invoice amount is first divided according to the number of payments and due dates defined in the payment plan, and then recorded among the payment collection transactions as multiple debit transactions. The transaction is displayed as such in debt tracking transactions as well.

Average Payment

If the sales invoice is related to a payment plan, the average due date for the payment of the whole amount is calculated using the weighted average method and by processing the number of payments and due dates defined in the payment plan. The sales invoice is recorded among the payment collection transactions as a single debit transaction at the calculated due date. The transaction is displayed as such in debt tracking transactions as well.

3. Checks / P. Note Slip Payment Transactions: Partial Payment / Average Payment

Partial Payment

Each check and P. Note transaction recorded on check or P. Note slip lines is recorded among the payment collection transactions as a separate debit or credit transaction at its own due date, and is displayed as such in debt tracking transactions.

Average Payment

Average due date of the slip amount is calculated according to the weighted average methods by processing amounts and due dates of check and P. Note transactions on the check or P. Note slip lines. The Check/P. Note slip is recorded among the payment collection transactions as a separate debit or credit transaction with its own total amount and average due date, and is displayed as such in Debt Tracking transactions.

4. Debit Closing Window: Invoices / AR/AP

Transactions / Check/P. Note Slips / Bank Money Orders / Safe Deposit Payment Collection Transactions

The debt-closing window displays invoices, checks, P. Notes, money orders, safe deposit and current account slips of the AR/AP in local currency or transaction currency. This window can either be accessed by clicking a button on the Accounts Receivable/Payable or AR/AP

Transactions lists, or opened automatically once the required transaction types are recorded using the Debit Closing option located in finance parameters.

The transaction types required to open the debit-closing window are selected here.

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