We receive payments in installments. Is there any way that we can make a payment plan for our customers.
Yes, you can. But that is not an accounting issue. It is a contractual one. When a customer pays only part of what they owe, enter a receipt for the amount they have paid. Post it to Accounts receivable and customer’s subaccount and sales invoice number. The sales invoice will then show the receipt and balance remaining.
We are selling the goods on instalment basis (monthly, quarterly, semi annual and annual up to 2 years). Is it possible to generate a report that shows the monthly due amount and date.
Right now we are using the same method as you have explain in your reply. but it shows all the remaining amount not the upcoming instalment amount. regards
No, Manager does not have the ability to calculate such payment schedules. If you want an invoice that only shows the current period’s amount due, you would need to create sales invoices for each period.
Or, you could add a custom field with the current amount due. Or send the customer a spreadsheet with the payment schedule.
Or use a recurring invoice to bill the customer only what is due at any point in time
Have you managed to create it?
Has who created what?