ALTUM

Dividing payment

In many purchase/sales transactions, the amount due is not often paid entirely and therefore it needs to be divided. It refers to situations when a customer/vendor wants to complete the registered payment in installments or to complete part of the payment in cash when issuing an invoice and the remaining amount by bank transfer with certain deferment. If it turns out that the registered payment does not agree with the actual deposits (e.g. the customer pays for the invoice in two installments, even though it was registered as one planned payment), it is possible to divide such payment into two separate payments. 

Payment can be divided both from the level of a document already when the document is being issued, when editing the unconfirmed document or from the level of the receivables and payables list.

To divide a payment:

1.     on the list of payments, mark the payment which you want to divide

2.     then click [Divide] in the List button group

In the opened window, enter information about the new (entered) payment. The window is composed of two tabs; the first tab refers to the new payment and the second tab refers to the divided payment (original).

Figure 22 Tab New Payment when dividing payment.

In the first tab, enter new payment amount. That amount must not exceed the uncompleted value of the divided payment. It is possible to change the currency, the payment status, due date, number of days of delay, payment form, an account, description, bank accounts and the entity (customer/employee/institution/bank).

In the second tab, the system automatically suggests the remaining due amount (total amount from the original payment and the new payment must equal to the original due amount). It suggests the uncompleted amount. None information on the form of the original payment (the one being divided) is editable.

Figure 23 Tab Divided Payment when dividing payment.

Example:

A payment amounting to 300 USD was to be originally completed by bank transfer. Later on, however, it was decided that the payment would be completed in two installments – 250 USD by bank transfer and 50 USD in cash. When dividing payment, the following data must be provided:

-         original payment: 250 USD paid by bank transfer

-         new payment: 50 USD paid in cash (it is possible to enter a new due date)

Upon the confirmation of the payment on the list of receivables/payables, there will be two separate payments registered.

Information copied from the form of the original payment into the new payment form is the following: customer/vendor name, payment form, acceptable delay, description, type, document date, name, document number and currency. All this information can be changed.

If payment is associated with a document (e.g. sales invoice) that was issued in another part of the system:

1.     document number is copied to the new event

2.     the divided payment is presented on the list of payments from the level of the invoice as the successive planned deposits for the invoice (there are two deposits instead of one)