How to track partial payments and an invoice's remaining balance
Link each partial payment to the right invoice and cash/bank account, and distinguish invoice balance from the contact's total balance.
For an approved invoice, remaining balance is its total less payments linked to that invoice. Select the correct contact, invoice, currency and cash/bank account. A contact's overall balance need not equal the remaining amount on one invoice.
Step-by-Step Implementation
1. Identify the paid document
Compare contact, document number and currency. Draft invoices do not create receivables; check the approved document. Do not assign an unclear payment to an arbitrary invoice.
2. Record the payment in the right account
In the invoice payment area, select amount, date and the receiving cash/bank account. Do not also enter the same receipt as separate income, which can duplicate cash inflow.
3. Check document and contact balances
Compare the invoice's paid and remaining amounts with the contact statement. Other invoices or independent contact transactions may explain a different total; do not add different currencies directly.
Practical scenario
Example: two payments against an invoice of 1,200
In the same currency, an approved invoice of 1,200 receives 400, leaving 800. Another linked payment of 300 brings paid total to 700 and remaining balance to 500. Another unpaid invoice of 200 could make the contact balance 700 without changing the first invoice's remaining balance.
Common Pitfalls & How to Avoid Them
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