Setup Store's Payon Account

Pay on account refers to selling to customer/store clients on credit and the client complete the payment after a certain duration of time i.e. customer makes the payment ‘on account’. They are common in print industries where credit is used for purchasing goods, and payments are made in drips or varying amounts over time.

For example, you served a Store Client for their 20 orders in February, and the total price is $5,000. But, instead of paying for each order your client chooses to make the payments ‘on account’ (using the credit limit given via Pay on Account from your OnPrintShop system). At the end of February month once you generate and send the invoice to your store client, then they send you the full payment of $5000 and you’ll note that the account is ‘PAID’.

Pay on account is termed as a more favorable payment method which will help you survive in this competitive market.

In our system, we allow the Admin to set Payon Account customer-wise and store wise. Read along to understand the working of both and how you can configure them into your system.

For any store set the Pay on Account settings as ‘Customer-wise’ and enter a limit. This is the credit limit that you will be offering to each of the store customers.

Whenever a customer places an order and pays via their Payon Account, the order amount is debited from the credit limit given to them and is termed as the due amount.

Also, at the admin side, every order placed via the Pay on the account is recorded under the Manage Pay on Account section.

After a certain duration of time, the supplier (printing company) will have to send an invoice to the company (stores account) that had received the goods and/or services on credit.

To process an invoice, go to Admin >> Store >> Select the store to generate Invoice >> ‘Action’ menu >> ‘invoice’ option >> ‘Add’ button

Select the orders and click on Add to generate the invoice.

In the Invoice pop-up, generate an invoice number, enter remarks set a due date for invoice and select an address for the invoice.

This will generate an invoice for the store and will be recorded in the Raised invoice of the Admin Panel. You can also configure invoice settings and let the system auto-generate the invoice.

Store Admin can view the invoice and raised by Site Admin and download the same i.e. invoice is routed to accounts payable (store’s account) for processing.

At store admin panel, go to Admin >> Store Management >> Store >> ‘Action’ menu >> Invoice

However, the store admin will not get any option to complete the payment from the Admin Panel itself.

It now becomes the responsibility of Site Admin to gather the payment. All the payments should be processed as agreed upon between a Site Admin (printing company) and a purchasing company (the store account).

Now Admin needs to mark the offline payments as paid into the system. Marking the invoice as paid will record the payment.

The invoice number will be transferred to the Paid Invoice tab.

As soon as you mark the invoice as paid, the system will automatically credit the Payon accounts of customers.

For any store set the Pay on Account settings as ‘Store-wise’ and enter a limit. This is the total credit limit that you will be offering to each of the store departments/non-departments.

Setting the Payon limit store-wise will give you a textbox of Pay On Limit for each department. Now, you can divide the credit limit i.e. 12000 (as shown in the example) to departments.

As in the example, we have 4 different departments and each one of them is given a credit limit of $2500. The unassigned credit limit can be used by the customers not belonging to any department.

Whenever a customer places an order and pays via their department’s Pay on Account, the order amount is debited from the credit limit given to each department and is termed as the due amount.

For the customers not belonging to any department, the amount will be deducted from the non-assigned credit. If there is no non-assigned credit, then the customers will get an error while placing an order via the Payon account.

Admin Panel

Also, at the admin side, every order placed via the Payon account is recorded under the Manage Pay on Account section.

From this section, Admin gets the option to mark any amount as outstanding or paid and even credit any sort of limit to the Store’s Pay On Account.

It’s time for the supplier (printing company) to send an invoice to the company (stores account) that had received the goods and/or services on credit.

To process an invoice, go to – Admin >> Store >> Select the store to generate Invoice >> ‘Action’ menu >> ‘Invoice’ option >> ‘Add’ button 

Select the orders and click on Add to generate the invoice.

In the Invoice pop-up, generate an invoice number, enter remarks set a due date for invoice and select an address for the invoice.

This will generate an invoice for the store and will be recorded in the Raised invoice of the Admin Panel. You can also configure invoice settings and let the system auto-generate the invoice.

Store Admin can view the invoice and raised by Site Admin and download the same i.e. invoice is routed to accounts payable (store’s account) for processing.

Store Admin Panel

However, they will not get any option to complete the payment from the Admin Panel itself.

It now becomes the responsibility of Site Admin to gather the payment. All the payments should be processed before or at their due date on a bill, as agreed upon between a Site Admin (printing company) and a purchasing company (the store account).

Now you need to mark the offline payments as paid into the system. Marking the invoice as paid will record the payment.

The invoice number will be transferred to the Paid Invoice tab.

As soon as you mark the invoice as paid, the system will automatically credit the Payon accounts of customers.