When the purchase and sales transaction invoice is recorded, the document of the payment transaction is also recorded and tracked in the debt tracking system.
The Payment Type option on the AR/AP Card Business Info page is used in order to apply the Automatic Payment feature.
The Payment Type is the default specifying the payment type for AR/AP transactions. The payment transaction is recorded accordingly when the sales, purchase and return invoices are recorded. The Payment Type field contains the following options:
- No Proceeding
- Cash
- Check
- P. Note
- Credit Card
- Installment
Automatic payments/collections are recorded through the safe deposit or on the slips issued from the related section of the Administration section. The department default to be used is recorded using the Sales and Distribution Parameters of the Administration section.
Cash Payments: When Cash is selected as the Payment Type, the AR/AP Collection window is opened for the AR/AP slips in the Safe Deposit or Administration. When the information displayed in the window is recorded, the payment information of the Sales Invoice is recorded.
In Sales Return Invoices, the Safe Deposit generates a Cash Payment Slip automatically.
The payment information is recorded after the user's confirmation.
If a Payment Plan is connected to the invoice, and a payment exists at the Invoice Date, the Cash Collection Slip is displayed. The amount of the Cash Collection Slip is equal to the payment amount at the invoice date.
Payments With Check: When Check is selected as the payment type, the Checks Received slip is displayed while recording the sales invoices without payment plans. The check record for the invoice amount is displayed in the slip lines. The due date of the check indicates the invoice date.
If a Payment Plan is used in the invoice, a check is issued according to the due dates specified in the Payment Plan. The check amounts are equal to payment amounts.
Payments With P. Note: When P. Note is selected as the payment type, the P. Notes Received slip is displayed while recording the sales invoices without payment plans. The P. Note record for the invoice amount is displayed in the slip lines. The due date of the check indicates the invoice date.
If a Payment Plan is used in the invoice, a P. Note is issued according to the due dates specified in the Payment Plan. The P. Note amounts are equal to payment amounts.
When Do Not Process is selected, payment windows are not displayed while recording sales invoices. Therefore, the method of the debt closing operation is specified in the Debt Tracking window.
The AR/AP debt tracking and closing information of the invoice is listed using the Debt Tracking option located in the right mouse button menu of the Sales Invoices window.
Cash collection, Cash payment, Check Received, P. Note Received, Checks Issued and P. Notes Issued operations generated according to the Payment Type which is selected when the Sales Invoice is recorded are connected to the relevant invoice automatically in the Debt Tracking window.
Payment Type in Return Transactions
If the Payment Type is specified in sales return transactions, a Cash Payment Slip from the safe deposit is generated when the invoice is recorded. The date of the Cash Payment Slip becomes the Invoice Date.
If Cost of input/output is selected as the Return Type of the Return Invoice, the invoice is connected to the return transaction. If there are cash collection transactions for the payment transactions of the invoice, and the amount is equal to or greater than the return amount, the connection can be established. Otherwise, the information of the return transaction is directly recorded by the user.