Installment payment transactions are recorded using "Pay" option located in the right mouse button menu of the Installment Transactions window.
Installment transactions can be closed one by one or in batch. In order to record payment information for more than one installment, first the related transactions are checked, and then the payment information is recorded using "Pay" option.
The fields at the top of the installment window are used to track the amount and the average due date. The lines are used to record payment information. The following information is recorded on the Installment Payments window:
Total Amount Payable: The amount of the selected installment transaction. If payments are recorded simultaneously for more than one installment, the Total Amount Payable field indicates the total amount of these installments.
Paid Amount: The amount entered into the Payment Amount field on the lines of the Installment Payments window.
Deficit Payment: The difference between the Total Amount Payable and the Paid Amount when the payment is incomplete. The incomplete payment options are used to specify how the outstanding amount will be collected.
Date: The date of payment.
Average Due Date: The average due date of installments.
Payment Type: This field is used to specify the payment tool and method for the installment amount. The Payment Type field contains the following options:
- Cash
- Check
- P. Note
- Credit Card
When "cash" is selected as the payment type, the cash collection slip is automatically generated. The section where the Cash Collection Slip will be recorded is specified using the Used In Automatic Payment/Collection parameter located in the Stock Working Parameters. The Safe Deposit Collection Slip is automatically generated when the value of this parameter is selected as Safe Deposit, and the AR/AP Cash Collection slip is generated when Administration is selected.
When Check or P. Note is selected as the Payment Type, a check or P.Note record is generated for each payment transaction.
When Credit Card is selected as the Payment Type, the Bank Account Code is entered into the Account Code field, and the Credit Card Slip of the payment is generated automatically in the AR/AP section.
Payment Amount: The amount of the paid installment. The installment amount can be closed using more than one payment tool. In such cases, each payment is recorded on a separate line by selecting the Payment Type.
Date: The payment date of the installment.
Transaction Currency: Indicates the currency with which the installment amount is paid.
Transaction Currency Exchange Rate: Indicates the currency exchange rate with which the installment amount is paid.
Amount (TC): The amount of the paid installment in specified transaction currency.
Operation Status: The field used to specify the operation status in payments made using credit cards.
Back Payment Date: Indicates the back payment date in payments made using credit cards.
Service Commission: The field used to record the service commission rate in payments made using credit cards.
Point Commission: The field used to record the point commission rate in payments made using credit cards.
Due Date Diff. Commission: The field used to record the due date difference commission rate in payments made using credit cards.
Account / Safe Deposit Code: The field used to record the account code for payments made using credit cards and used to record the safe deposit code for cash payments.
Back Payment Plan: The field used to record the back payment plan in payments made using credit cards.
What to do for deficit installment payments?
The method to be used to close outstanding payments is recorded using the outstanding payment options. When "outstanding payment" is clicked, the following options and functions are located in the upper section of the Installment Payments window:
No Proceeding: The remaining installment amount is updated if the installment is not closed with the payment.
Add to First Installment: If the installment closing operation is performed through the AR/AP, the outstanding amount is added to the amount of installment with the latest due date. If the installment closing operation is performed through installments, the outstanding amount is added to the installment amount of the slip with the latest due date.
Add to Last Installment: If the installment closing operation is performed through the AR/AP, the outstanding amount is added to the amount of installment with the latest due date. If the installment closing operation is performed through installments, the outstanding amount is added to the installment amount of the slip with the latest due date.
Distribute To Installments: It is used to distribute the remaining amount to the installments. In case that installment is paid by Installment Transactions option located in AR/AP browser / F9 menu and "Distribute to Installment" option is used for the remaining amount, the remaining amount is distributed to all installments of the relevant AR/AP equally. If the payment is made over the invoices and "Distribute to Installment" option is used for the remaining amount, the remaining amount is distributed to all installments of the relevant invoice equally.
Generate New Installment: When this option is selected, the Installment Date field, which is disabled in other options, becomes active. A new installment card is generated with the remaining amount and due date.
Installment Payment Cancellation
Installment payments may have to be cancelled for any reason. In such cases, Undo Payments option located in the right mouse button menu of the Installment to be cancelled is used.
When payments are undone, all records generated automatically depending on payment tools are deleted.