With the latest update of TrakIT, you can now register advance payments from vendors and register future bills against the payment. Similarly, you can receive advance payments from customers and register future invoices with the payment receipt.
Registering a Payment
On the Finance > Receipts & Payments page, select the Payments tab. Enter the details for the payment that was made to the Vendor.
Once the payment is created, you can register zero or more existing bills against it. You can even approve the payment without allocating any bills.
The payment detail page now has a new button: Finalise. The payment can be finalised only when the allocation of bills equals the payment amount. Once the payment is finalised, no further changes can be made.
Registering a Receipt
The procedure for registering receipts is the same as for payments. Once the receipt has been created, you can approve it with or without allocating invoices to the receipt.
After approval, you can generate the voucher or receipt copy to send to the customer. Future invoices from the customer can then be allocated to this Receipt.
Once the Receipt has been allocated to invoices and the outstanding is zero, the Receipt can be finalised.
For any questions or concerns, please contact TrakIT Support.
