In the Debt menu, you can view all AR and AP records from unpaid transactions. AR (Accounts Receivable) is a list of customers with outstanding debts from sales transactions, while AP (Accounts Payable) is a list of suppliers to whom we still owe payments for purchase transactions.
When creating a Customer Invoice or Supplier Bill with the Payment option set to Later, the customer’s and supplier’s names will automatically be recorded in the AR and AP lists. However, in certain situations, you may not want to record customer debt if the fulfillment status of the sold products is set to Later, or you may want to record supplier debt only after the purchased products have been received.
To make the AR/AP records follow the fulfillment status of the Customer Invoice and Supplier Bill, you can follow the steps below.
I. How to Configure
Step 1. Go to Settings, Search for AP or AR calculation
Step 2. Set The AP/AR to Before Received/After Receive
In the Debt tab, you can choose whether the AR and AP calculations are recorded Before Received or After Received.
For example, if you set the AR Calculation to After Received, customer debts will not be recorded in the Accounts Receivable list in the Debt menu until the products from the unpaid Customer Invoices have been sent to the customer.
II. How the Configuration Works
Step 1. Change the default configuration from the AR Calculation as After Received and click the Save button
Step 2. Create a Sales transaction in the Sell menu, set the Payment and Fulfillment as Later
In the sell menu, input the items to the cart, input the customer name, then click on More Action.
In More Action select Fulfillment and set the fulfillment as later.
Select the payment as Later and then click Pay.
Step 3. Go to Debt, choose the Account Receivable Tab, and search for the Customer name that has the unpaid transactions
The customer will not appear in the Debt - Accounts Receivable menu because the fulfillment status of the unpaid transaction for that customer is set to Later. The Accounts Receivable record will only appear after the products from the unpaid Customer Invoice have been sent.
Step 4. Open The Invoice, and Send The Logistics
Step 5. Go to the Debt menu, choose the Account Receivable Tab, and search for the Customer name that has the unpaid transactions
The debt from the customer is now recorded after we send the Products from the unpaid customer invoices.
Notes:
This configuration also works the same way for the Account Payable in the Debt menu. If you set the AP Calculation as Before Received, your Debt from Suppliers will be recorded before you receive the products from the Unpaid Supplier Bill
Related Articles
To add a payment method that can be used when you create a Sales transaction or Purchase transaction, you can see this article: Add Payment Method
To set a surcharge at the payment, you can follow the steps in this article: Set Surcharge at Payment
To make payment from the Unpaid Sales or Purchase transactions, you can read this article: Add payment to Credit Sales / Purchase
To set a customer debt limit you can go to this article: Debt Limit for Customer
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