Instances may arise when you receive a partial payment from a Customer. Thanks to Intacct it’s simple to record this partial payment and to track the outstanding amount due on the invoice. A few weeks ago we detailed how to record a payment against an invoice, Accounts Receivable – Receiving a Payment, and today we will use that same methodology but we will only pay a portion of the amount outstanding.
In this scenario a payment has arrived from our Customer Named ‘My New Customer’ in the form of a check for $500. It is easy to see from the Customer Aging Report that we have an outstanding amount due for this customer.
In order to record this payment we will go to Accounts Receivable > All > Activities > Payments > Receive a Payment. We will be going to the bank today so we will be recording this payment straight to our bank account. After we filter based on our customer name we will notice that there are actually two outstanding invoices for this client. We will enter the Check Amount into the Check Amount (USD) field along with the Check Number. Because we are only applying a portion of the invoice amount, not the full amount, we will key that number into the Amount Received field on the appropriate line item.
If you wish to view the invoice you may do so directly from this Select Invoices for Payment screen by clicking the invoice number on the line item in question. As shown below our invoice ARINV-0006 is still outstanding in full.
Once the amount is correctly entered, click ‘Save’. Once you have saved you will be taken back to the Select Invoice For Payment screen with a success message displayed at the top.
As expected the Customer Aging Report is now showing $500 less owing from this customer.
A quick visit to the Invoice itself will show you that $500 has been paid and that $291 is outstanding. The far right side also tells you the check number which paid the $500.
When payment arrives for the remaining amount on this invoice the payment will be recorded just the same but the amount outstanding on the Select Invoice For Payment screen will show as $291.
