Customer Payment

Customer payment is the transaction that involves the receipt or settlement for the sale of a product to the seller by the buyer. Customer payment can be made either partly or in full and may incur at the point of sale, at the end of the credit period or in advance.

In Customer Payment, you can initiate all the receipts for the sales, due receipts or advance receipts.

Essential Requirement

To initiate the customer payment, it is essential and advisable to create the following

• Customer Name
• Cash/Bank Accounts

How to record new customer payment ?

1. In the Sales module, select Customer Payment.
2. Click on “+Add New” to create a new receipt entry.
3. Unique Payment Number will be generated automatically if set to auto in configuration or fill manually if set to manual.
4. Upon clicking the “Received From” field, a drop-down list will appear for the existing customer. Select the desired customer name from the list or type in the name manually. If the desired customer name is not previously created, click on the “Add New” option and fill in the details to create the customer.
5. Click on the “Received Account” field, a drop-down list will appear for the bank accounts/cash in hands already opened. Select the bank account/cash in hands from the list. You can only make the selection from the list and cannot be entered manually. If not already created, you can create a new bank account/cash in hands from the “Accounting/Bank” module.
6. Select the “Received Date” from the pre-designed calendar by clicking on the calendar icon.
7. Type in the “Amount“ received from the customer.
8. In the Payment mode section, click on Payment mode. Select the mode of payment from the list. In the Payment Reference, type in the transaction details e.g. Purchase bill number, cheque number, etc.
9. In the TDS section, select “No TDS” if TDS is not applicable for the particular payment. If TDS is applicable, Click on “TDS”.
10. Choose the TDS account from the list in “TDS Account”. If the TDS account is not already created, click on “Add New” to create new one. Select the TDS code from the TDS type, then enter the TDS amount for the transaction.
11. In the Payment Allocations, the list of previously booked invoices will be generated for the selected customer. For the current payment, the amount is allocated in FIFO (First In First Out) method by default. But you can manually allocate the payment by entering the amount to the relevant payment in the “This Allocation” box. The list gives the details such as date of bills, amount, the amount left to allocate and amount allocated from the current transaction.
12. You can provide notes to customers and also select the appropriate reporting tag if applicable.
13. Click on the “Save” icon. Click on the desired action from the pop-up box or click elsewhere to save the payment as a draft. If saved as a draft, you can approve the purchase order from the draft tab. OR
14. Click on the “Reset” icon to clear all the fields and start again.

Options for Customer payment

When a selected customer payment/receipt is opened, options can be used to edit, make duplicate, void, print the selected payment transaction.

Quick Action Button: For the draft customer payment, the quick action to “Approve” will be suggested which shall approve the payment.

Edit Payment– in this option, you can edit the previously created payment entry.

Make Duplicate – if you select this option, a replica of the currently selected payment entry. You can however still edit the details/information and save it as a new payment.

Void this supplier payment – This option nullifies/invalidates the currently selected supplier payment. Once a transaction is voided such transaction cannot be reverted a later.

Print /PDF: For any document opened, may it be draft or approved, you can preview, print or save as pdf. Tigg offers a pre-designed template for the user, however, you can design/change the templates from “Configuration” in “Printing Templates”.