Advance payment

The use of advance payment is an order processing method in which the sales contact first enters the order and then pays for the order after which you deliver the articles.

Description

You can configure the sales contact so that the entire invoice has to be paid first, after which the order is automatically released for delivery. We call this advance payment. This method of delivery is frequently used by webshops.

You enter the sales order in Profit and send the associated invoice to the sales contact (please note that this differs from the regular sales process in which you enter the order, deliver the goods and then issue the invoice).

You then wait for the sales contact's payment. Profit Financial is used to journalise the payment of the sales order which results in an outstanding item. The payment is reconciled as soon as it has been received. Reconciliation is possible using a manual entry, by importing a bank statement or by using the 'Reconcile' function. When the advance payment has been reconciled, the order is released for delivery.

You can now generate the packing slip in the usual way.

If you use advance payment, Profit only creates a packing slip if the sales contact has paid the full order amount. This differs from a down payment in which the sales contact only has to pay part of the order amount.

Furthermore, in case of an advance payment, you send an invoice to the sales contact, which you do not do for a down payment.

Video

Preparation

  • Configuration

    If you want to use advance payment as the order processing method for the sales contact, you first have to configure this.

Procedure

  • Add a sales order for an advance payment

    In a specific sales order you can indicate that it has to be delivered using advance payment. If you have already set advance payment as the order processing method in the Order management settings or at the sales contact level, the sales order automatically shows this setting in the Processing order field.

  • Change a sales order with advance payment

    You can still change an added sales order with advance payment for which an invoice has already been generated.

  • Generate an invoice after a sales order with advance payment

    If you have not yet generated the invoice of the sales order that needs to be paid in advance in the actual sales order, you can do so in the sales order view.

  • Deliver a sales order even without an advance payment

    A sales order with advanced payment must be paid for in full before it can be delivered. You can, however, still deliver the sales order. A condition for this is that the invoice has already been generated.

  • Generate a packing slip in case of advance payment

    After the advance payment order has been invoiced, the Invoiced in advance check box is selected in the sales order properties. You then wait for the sales contact's payment. Profit Financieel journalises the payment of the sales order which results in an outstanding item. The payment is reconciled as soon as it has been received. Reconciliation is possible using a manual entry, by importing a bank statement or by using the 'Reconcile' function. Once the advance payment has been reconciled, the order is released for delivery and you can generate the packing slip.

  • Correction invoice for an order with advance payment

    In the case of advance payment, changes in a sales order and/or packing slip are included in a correction invoice. A correction invoice must be generated manually. You can check if a correction invoice is required in the order properties.

Also see