Payments

A payment records money actually moving. Create one from Common → Payments, or directly from a submitted invoice.

Receive and Pay

A payment is either a Receive (money in from a customer) or a Pay (money out to a supplier). The type determines which accounts are debited and credited.

Against an invoice

Creating a payment from a submitted invoice pre-fills the party and the outstanding amount. The invoice’s outstanding balance reduces when the payment is submitted.

A payment can be applied across several invoices for the same party.

Payment methods

The payment method determines the account money moves through — cash, bank transfer, cheque or card. Manage methods from Common → Payment Methods, each pointing at the relevant account in your chart of accounts.

Partial payments

With Enable Partial Payment in Settings → General → Features, a payment can settle part of an invoice, leaving the remainder outstanding.

Write off

If a small balance will never be collected, the difference can be written off to the account set as Write Off Account in Settings → General → Accounts.