Invoice Payment in Instalments

[Derek Atkins]

Plutocrat <plutocrat at gmail.com> writes:

> Hi,
>
> Just a sanity check here. I have a client who wants me to invoice him
> with a single invoice containing 12 monthly payments. He will pay me
> 100 dollars (for eg) on the 15th of each month. Jan 15th to Dec 15th
> 2015.
>
> So on a backup set of accounts I tried this out. I created the
> Customer and Job, and then created in invoice dated Jan 7th. I put 12
> lines in the invoice.
> 2015-01-15 | Jan Payment | 1 x 100 USD = 100
> 2015-02-15 | Feb Payment | 1 x 100 USD = 100
> 2015-03-15 | Mar Payment | 1 x 100 USD = 100
> etc
>
> I posted the invoice and then received partial payment for the first
> instalment of 100 USD. This seemed to work. It was credited to my
> checking account. The invoice remained unpaid. There was no indication
> of how much of the invoice was paid / unpaid, but this is a minor
> detail.

Two ways to find this:

1) The Aging report will show you how much they owe
2) In the invoice report you can turn on "show payments".

> So, as a sanity check, does this look like a good way to handle the
> situation? Is there a BETTER way that I don't know about? Always keen
> to learn new tricks!

If they really only want a single invoice this is the best way.
Your other option is to create 12 invoices and then send them a
"Customer Report".

> J.

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available