Make a Partial Payment

Make a Partial Payment

Background

This article is in reference to making a partial payment. (Please see the Knowledge Base article titled "Receive a Partial Payment" for information regarding a partial cash receipt).


A partial payment is made when only a portion of the quantity has been received. Only leave an order open when a portion has been received, and further receiving is expected. A partial payment can be made on either a PRC or GAX.

A partial payment is made when you have received less than the amount on the purchase order. A partial payment can be made on either a PRC or GAX.

You have two choices
  1. Mark the payment partial and leave the order open when a portion has been received, and further receiving is expected.
  2. Mark the payment final and close the purchase order when a portion has been received and further receiving is not expected.


 

Links


Partial Payments

 

Partial Payment on GAX:

 

Partial Payment on PRC


    • Related Articles

    • QRG - Creating a PRC transaction

      (A copy of the QRG with screenshots can be found here: https://drive.google.com/file/d/1aFAJIMFDNd_4H2MVZChVQxA2LsfLRmSG/view ) Introduction This quick reference guide describes how to create a Commodity-based Payment Request (PRC) transaction in new ...
    • Receive Partial Payment

      Background A partial payment will need to be processed anytime only part of the balance on an RE (Receivable) document is received.   Processing 1. 1.    Copy forward from the RE to the CR 2.    Change the Vendor total amount to the correct amount ...
    • Creating a GAX

      Background A GAX (General Accounting Expenditure) document is a payment document. It is most often a “stand-alone” payment request that does not require a previously processed purchase order. It can also be copied forward from a GAE (General ...
    • Create a PRC

      Background A PRC is a commodity-based payment request document that records detail to the commodity level. The PRC can only be created as a “copy forward” document from a Purchase Order (PO, PD, DO). It cannot be used as a stand-alone document. ...
    • How to Handle a Negative Payment Amount

      Summary  Due to the way FINET handles negative payments, it is best to process negative payments as a credit on the same document as a greater or equal payment. The positive payment does not need to have the same coding as the positive payment. If ...