I have received £1,000 from my customer, I have invoiced the customer £350. I would like to partially allocate the receipt to this invoice so that it is fully allocated and I have the £650 remaining as a payment on account to be allocated to a future invoice. How can I achieve that in Odoo 15?
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Use the Customers --> Payments Menu to enter the payment for £ 1,000.
Click the PAYMENT MATCHING button on the Payment.
Match the £ 1,000 payment credit to the £ 350 invoice debit.
Select your Account Receivable account as the location for the left over £ 650 debit, with a label such as Overpayment.
Note: You will see an amount of £ -650 in the Manual Operations tab during reconcilation.
Review
- the Customer Invoice - it is IN PAYMENT (until bank statement reconciliation is complete) with a £ 0 Balance Due.
- your Aged Receivable report - it has a red (negative) amount to be applied to future Invoices.
As soon as you confirm the next Customer Invoice for this Customer, you will see a message at the top of the next Invoice stating "You have outstanding credits for this customer. You can allocate them to mark this invoice as paid."
Click outstanding credits or scroll to the bottom of the next Invoice, and you will see the £ 650 that you can apply. If the amount due on the next Invoice is less than the balance, you will see the remainder on future Invoice(s) for the same Customer until it is fully applied.
More information at https://www.odoo.com/documentation/15.0/applications/finance/accounting/payments.html#registering-payments-not-tied-to-an-invoice-or-bill
Thanks Ray,
The default that appears for the leftover is "Interest" which is a bit intimidating and changing it to Accounts Receivable seemed a bit far out but sure, the logic does work.
In the meantime, I have discovered you can also achieve the same end result by following part (b) of your explanation - return to said invoice and follow the "outstanding credits" route you described.
Thanks again
Franz
Yes it may be simpler after creating the payment to go immediately to the Invoice and pay it, and Odoo will retain the balance for future invoices automatically.
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