DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Payment in installments


#1

I am planning to use Manager.io in Brazil. Here it is quite common that people pay in installments and have the option as well to pay in cash. Normally they get a discount when they pay in cash. Is it possible to handle these kind of transactions in Manager.

For instance:
The price for 1 pair of jeans is R$200,00 (cash price), or 3x R$75,00, where they will pay 1 installment cash, 1 in 30 days and 1 in 60 days.


#2

You can assign multiple payments against single invoice or issue one invoice per each installment.

If you want to give discount for payment by cash, you would normally issue a credit note (Credit Notes tab) or if you don’t want to bother, you can just add extra line item with negative amount to reduce the total of invoice.


#3

Hi Lupus, Thank you for your answer.

In this case I would like to show the value of each installment on the invoice. If I issue one invoice per each installment, lets say 3 installments, then the total value on each invoice will be the same right and not divided by 3.

Best would be if it shows on the invoice the total value of the goods sold (for instance R$225,00) and as form of payment:
3x R$75,00 with due dates 1/9/2015, 1/10/2015 and 1/11/2015.


#4

Edwing is talking about hire purchase. Please read and understand Hire Purchase accounting treatment allowed in Brazil and then when you know the various accounts to open as the seller or the buyer then you can go ahead and create accounts to enable you do carry out hire purchase transactions with manager.

I will try and find a good website and put the link here for more information about hire purchase accounting.

Read this in the meantime:


#5

It looks a lot like what you call hire-purchase Abeiku, however the buyer does not have the right to return the goods. It is more a credit facility from the seller to the buyer. In Brazil it is common to buy almost everything, from socks to airline-tickets, by paying in installments. In that way people who do not have a high income are able to buy a TV for instance and pay in 12 relatively small installments