SAP ERP Question:
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Explain me what is the difference between the “residual payment” and “partial payment” methods of allocating cash in account receivable?
Answer:
The difference between the residual and partial payment includes
☛ Partial payment: For example, let say invoice A456 exits for $100 and customer pay $70. With the partial payment, it offsets the invoice leaving a remaining balance $30
☛ Residual Payment: While in residual payment, invoice A456 is cleared for the full value $100 and a new invoice line item is produced for the remaining balance of $30.
☛ Partial payment: For example, let say invoice A456 exits for $100 and customer pay $70. With the partial payment, it offsets the invoice leaving a remaining balance $30
☛ Residual Payment: While in residual payment, invoice A456 is cleared for the full value $100 and a new invoice line item is produced for the remaining balance of $30.
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