V9 - Processing partial payments and multiple deposits (SOS Pay)

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SOS Inventory supports partial payments of invoices and multiple deposits of sales orders. 

 

Partial payments on invoices

To make a partial payment on an invoice:
 

1. Start a new payment transaction. 
   1. Generating the payment from an invoice is the recommended (and easiest) method to use.
   2. You can also add the payment transaction directly or add it from an existing customer.
       
2. Complete the transaction as you normally would, noting the following:
   1. If the customer has a saved payment on file, the saved payment method will show on the payment transaction as the default payment method.
   2. In the Description column, reference that this is a partial payment.
   3. Edit or enter the amount being paid in the Amount column. If you generated the payment from an invoice, SOS will automatically populate the full balance (or remaining balance, if a previous partial payment has been made) as the amount. 
   4. In the Applied to column, select Invoice. Then enter the associated invoice transaction reference number in the next cell. (If you generated the payment from an invoice, this information will be automatically included in the payment transaction.)
   5. When you save the payment transaction:
      1. If you generated the payment from an invoice, the transaction will inherit the invoice reference number.
      2. If this is a partial payment associated with the same invoice, SOS Inventory will not allow you to save the payment with the same transaction number as the first payment. The solution: Modify the transaction reference number slightly by adding a suffix. This will help you identify the transaction as an additional payment applied to the same invoice. For example, if the first payment's transaction number is INV-04271, you could modify the next installment's number by adding -2 (so the number becomes INV-04271-2).
      3. It is added to the Payments list.
      4. It creates a transaction on the SOS Pay list to reflect the payment transaction, then is immediately processed in Payments Dashboard.
      5. It is also added to the Sync queue to go to QuickBooks Online.
      6. SOS Inventory automatically updates the invoice record on the Invoices list, as shown in the screenshot below. The record's Payments column includes clickable links to the payment transactions associated with that invoice, SO-1014 and SO-1014-2. Because the invoice is fully paid, the Balance column of invoice SO-1014 now stands at $0.00. SOS has changed the invoice record's Status column from Open to Paid.
         
         

 

Handling multiple deposits for a sales order

 

 

If multiple deposits are involved for a sales order, use either of the following options:
 

• Option 1: The initial deposit is entered while creating the sales order. 
  • Additional deposits must be paid by payment transaction. 
  • As long as a credit card is not on file, you can use different credit cards for each deposit.
  • If a credit card is on file, that card will be used unless changed.
  • SOS Inventory automatically updates the invoice record on the Invoices list. The record's Payments column includes clickable links to all payment transactions associated with that invoice. The Balance column displays the remaining balance on the invoice or 0.00, if fully paid. Once the balance is 0.00, SOS changes the invoice record's Status column from Open to Paid.

 

• Option 2: No deposit is entered at the time the sales order is created.
  • Use payment transactions to record all deposits. 
  • SOS Inventory automatically updates the invoice record on the Invoices list. The record's Payments column includes clickable links to all payment transactions associated with that invoice. The Balance column displays the remaining balance on the invoice or 0.00, if fully paid. Once the balance is 0.00, SOS changes the invoice record's Status column from Open to Paid.