For instant payments by customers for sales, is there any way to create “Sales Receipt” instead of creating a “Sales Invoice” and then a payment entry against it?
How about creating a Sales Order and then creating a payment entry against the Sales Order?
But what’s the business use case? Is it an industry where you see a high percentage of sales returns and as a good governance practice you want to wait X days before you recognize revenue from the Sale?
If you tell us what you need and why there may be ways of accomplishing it that users here may be able to suggest.
Hope this helps.
Thanks
Jay
As I am coming from QuickBooks I was using “Sales Receipt” for instant payments. I am not sure whether this is something unique to QuickBooks only.
Here is what I found from QuickBooks help
An invoice is used when your customer agrees to pay you later. You can set up terms to indicate how long the customer has to pay. If they don’t pay within the specified time limit, their invoice is overdue.
A sales receipt is used when your customer pays you on the spot for goods or services.
Oh no! I’m not an accountant, so please have this validated: Is that a Sale? Has your client agreed to take custody of the goods/services you are selling to her/him? Is s/he paying you for those goods? Can the delivery be deemed to be complete when this transaction is complete (like there could be conditions that say that the supplied machinery must be installed and installation could be an intense effort - then you may want to wait till the installation is done before invoicing the customer).
If all of these conditions are met, you can instantly raise an Invoice, update stock (to account for the transaction) and receive payment - all in one transaction and with a few clicks on ERPNext.
If you are using POS, the POS profile does all this, but even if you are not, make the Sales Invoice with Update Stock and Include Payment (POS) checked. Payment Type and Account will have to be set for this to work, but that’s not too hard to do.
Yep, ERPNext is that easy and cool to use.
Hope this helps.
Thanks
Jay
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Sounds like an invoice with extra steps.
This article does a little better job at explaining the differences.
ERPNext doesn’t have a separate concept of sales receipt. The job is done by issuing a POS invoice. Since you’re receiving the payment on the spot, you can choose to issue a POS invoice and collecting the payment upfront as both receipt and invoice do the same job essentially.
Checking Include Payment on the sales invoice document would accomplish the job.
I’d suggest trying this out: