Previous: Commission Calculation
Log Payment is a three step wizard that helps finance/accounting personnel to apply a payment to a particular invoice. This wizard will allow you to enter partial payments, allocate payments to multiple invoices and also assign a portion of payment towards participating agent’s gross commission.
You can access the payment processing wizard by clicking on “Log a payment” button from comps detailed view.
Step 1: Confirm Payment Details
Enter the details for the payment received in the first step of the wizard.
Paid By Contact - The contact that paid the invoice
Paid By Company - Account related to the payment received
Payment Amount - Amount received on the invoice
Payment Date - Date on which the amount is received
Payment Type - Customizable picklist of types. Default values include Check, Cash and Trust Deposit.
Memo - Any additional information needed for reporting purposes. Eg. Transaction Id, Check No
Step 2: Apply Payment to Invoices
Click the next button in order to move to the step 2. This step lists all the pending invoices related to the comp.
Payment Amount on the top right corner specifies the total amount entered in the step 1
Amount Unallocated is dynamically updated with the remaining amount as the amount is allocated to the invoices.
Apto tries to allocate the payment amount to all the available invoices starting from oldest first
If the invoices are paid in full, just click the Paid in full checkbox
Step 3: Allocate Gross Commissions
Click next button to move to the step 3. This step allows you to allocate the received amount to agent commissions. This step has two sections. The first section provides details about the invoice and commission payment and the second section provides details about the Holdbacks. The payment amount is distributed to the holdbacks and then to agent gross commissions. The values allocated to all segments can be overridden by editing the amount.
Click Log Payment button to log this payment and apply it to the invoices. If your organization pays the net commissions to agents immediately, you can click the Log Payment and Pay Commissions button to go directly to the Pay Commissions page.
Next: Pay Net Commission