Collection (Down Payment)
A collection down payment records money a customer pays in advance, against an approved Sales transaction. It's deducted when you collect the final amount.
Menu: Sales and Other Income › Collection (Down Payment)
How to receive a down payment
- Open Sales and Other Income › Collection (Down Payment) and click ⊕ (Add New Transaction).
- Choose For Branch, then Regular Customer or Walk-in Customer, and the Customer. The Customer Available Balance is shown.
- Click Sales Selector (SI icon), tick the sales transactions, then click Add.
- Enter the amount being paid against each one.
- In the lower table, choose the Method, the Deposit to Bank Acct if it's deposited, the Check No. and Date for a check, and the Amount. Click ✔ at the right end of the row to add it.
- Click Save ▾ and choose Save, Approve or Approve and Print.
Example
A customer orders a made-to-order display cabinet worth 60,000.00 and pays 50% upfront. Create a down payment collection for the customer, add the approved sales order, enter 30,000.00, and record the payment (for example GCash with its reference number). Approve. When the cabinet is delivered with a sales outbound, the 30,000.00 is deducted, so only 30,000.00 remains to collect.
Settings that affect this module
Your administrator can change these in Settings (see About settings). Click a section to see the choices.
Generic Settings › Collection (Down Payment)
Generic Settings › Sales and Other Income
Other permissions for this module
| Permission | Allows you to |
|---|---|
| Sales and Other Income › Collection (Down Payment) › Approve | Approve down payments |
| Sales and Other Income › Collection (Down Payment) › Revert | Revert them back to draft |
| Sales and Other Income › Collection (Down Payment) › View Other Users' Transaction | See down payments created by other users |