You can use the Billing application to accept cash
and electronic payment (EP) as down payments. For more information about electronic payment
processing, see Electronic Payment overview.
Difference of cash and EP down payments
Cash and EP down payments are different in terms of display on an invoice,
the application where you apply the down payment, and the way you posts the down payment
information in the General Ledger application.
This table shows the differences between the down payment types when you
update the Billing transactions to the subsystems:
|
Cash down payments
|
EP down
payments
|
-
The gross amount is sent by the Billing application as an open invoice to the Accounts Receivable application.
-
The gross amount to the accounts receivable account is posted
by the General Ledger application..
-
You manually apply the down payment amount in the Accounts Receivable application.
|
-
You can manually record the EP down payment in the General Ledger application when you receive payment.
-
The net amount is sent by the Billing application as an open invoice to the Accounts Receivable
application.
-
The net amount is posted by the General Ledger application to the accounts receivable account.
-
The down payment is posted by the General Ledger application to the EP accounts receivable
account.
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