When entering a transaction using Multiple Due Dates, and you have set the number of payments, the system automatically calculates the value of each payment based on the total gross value of the transaction, any deposit value and the number of payments.
Example of a 12% deposit set up and a payment received for the invoice
You raise an invoice for a gross value of £1090.75.
You set a 12% deposit £130.89 and set the No. of payments to be four.
Payment | Amount | Due |
1 | 239.97 | 239.97 |
2 | 239.97 | 239.97 |
3 | 239.97 | 239.97 |
4 | 239.95 | 239.95 |
If a value equal or less than £130.89 is allocated against the transaction, then the due value won't be reduced for any payment as this is the deposit only.
If a value greater than £130.89 is allocated against the transaction, then the due value for payment one is reduced by the allocated value less £130.89 until zero is reached.
If a value greater than £370.86 is allocated against the transaction, then the due value for payment one is reduced to zero and the due value for payment two is also reduced by the allocated value less £370.86 until zero is reached.
A receipt for £300.00 is allocated against the transaction
Payment | Amount | Due |
1 | 239.97 | 70.86 |
2 | 239.97 | 239.97 |
3 | 239.97 | 239.97 |
4 | 239.95 | 239.95 |
A further receipt for £310.83 is allocated against the transaction
Payment | Amount | Due |
1 | 239.97 | 0.00 |
2 | 239.97 | 0.00 |
3 | 239.97 | 239.97 |
4 | 239.95 | 239.95 |