Finance Agency

AltheaSuite also offers the Payment Mode “Finance Agency”. Here is a step to step guide to know how you can handle payments in Finance Agency Payment Mode.

Step 1: Login to your AltheaSuite account.

You will be able to find this module under Sales > Finance Agency. 

Step 2: Create Finance agencies you want to add.

To create New Finance Agency, enter the details, you may also set the balance limit.

Step 3: From the Main menu options, go to Sales > Sales Invoice > Create New Invoice.

Click on Pay Now, to complete the payment for the invoice on Payment Screen.

On the payment screen, click on Finance Agency payment mode, select the finance agency from drop down and enter the amount.

Step 4: To Receive payment from Finance Agency, Go to Sales > Finance Agency > Receive Payment.

Receive the payment by selecting the finance agency > Select the pending invoice > enter the pending amount.

How To Handle Sales Return In Finance Agency.

Scenario 1: Sales Return After Payment Received from Finance Agency.

In this scenario, the customer requests a sales return after a business has already received the payment from the finance agency.

While performing a sales return, the refund can be issued using the payment mode chosen by the customer.

Scenario 2: Sales Return when the Payment is not Received from Finance Agency.In this scenario, the customer has paid invoice using finance agency payment mode and  requests a sales return when a business has not received any payment from the finance agency.

Refund can only be issued using the Finance Agency payment mode.

Financial transaction after Sales Return.

Scenario 3: Sales Return When Another Payment Mode Is Used with Finance Agency, and Payment Is Not Received from Finance Agency.

In this scenario, the customer requests the sales return, but the sales invoice was made using finance agency and another payment mode (e.g. cash, card or check). The business has not yet received the payment from the finance agency. 

Return can be done for $200 using any payment mode chosen by customer. However, for the amount $998 paid by finance agency, it needs to be returned by selecting the Finance Agency payment mode.

Financial transaction after Sales Return.

Note: If, for any reason, the customer decides to cancel the sales return, the sales return transaction must be deleted and all the related financial transactions will be reversed accordingly. The original sales will remain valid.