A systematic approach to tracking credit customers (Accounts Receivable in accounting terms) is key to ensuring that customers fulfill their accounts as agreed and greatly assists with managing customers of this nature.When a customer has been invoiced using the Credit payment mode in a sales transaction screen, the inventory is subtracted however the business did not receive any income for these items yet.

Capturing Customer Payments (Customer Settlement)

1. Navigate to Credit Sales Management > Credit Management
2. Search for a particular customer either by Customer Code or Customer Name; Alternatively you can press search without any values to list all vendors
3. The grid will display Payment Term , Revenue, Open amounts and the Current Total Balance for each customer retrieved, among additional financials columns.
4. Click on a customer and the RHS (Right Hand Side) will populate with the current debtors information and balances, along with three buttons ( SHOW INVOICEWISE DETAILS , SHOW LEDGER, PAY) and a checkbox (Show Allocated Invoices)
5. Show invoicewise details: The grid will populate with all open invoices, simply tick all the invoices you would like to settle and press PAY;
6. Alternatively, you can tick one invoice and enter the payment amount in the PayAmount field.When making a partial payment, enter the amount in the PayAmount field and make sure to set the discounts to 0 as the system automatically writes off the unpaid value to the discount field.
7. Pay: When using the pay functionality, you can capture a payment not relating to any invoice.This payment will appear as an entry in the Previous Overpayments section.To allocate this payment to an invoice/s, tick the entry in Previous Overpayments section, tick all the invoices in the Open Invoices section you would like to allocate this payment to and press Allocate.
8. Show ledgerPosibolt allows you to quickly view all the customers invoices. For a particular customer, click on Show Ledger. As for any reports, you can add filters and sort the information to identify exactly what you are looking for.
9. Show Allocated InvoicesThis will display all the invoices which have payments allocated to them.