Initial Invoicing

Initial Invoicing

1. Purpose

Functionality allows to create initial invoices to customers for upfront amounts and downpayment before or on contract activation.

2. Setup

On Leasing Initial Invoices Posting Setup configure initial invoice posting rules per financial product:

• Financial Product Code. Specifies financial product code
• Initial Invoice Receivable Type. Specifies receivable type for which initial invoicing rule is applicable. Available options:
  • Services Upfront
  • Insurances Upfront
  • Establishment Fees Upfront
  • Originator Fees Upfront
  • Brokerage Upfront
  • Taxes Upfront
  • Downpayment
  • Subvention
  • Upfront Sales VAT
  • First Installment
  • Pro-rata
  • Full Asset Value (allowed for financial products where “Amounts Including VAT” is enabled)
  • Downpayment Deduction (allowed only with “Full Asset Value” option)
• Invoice Type. Specifies invoice type to be used on initial invoice.
• Invoicing Trigger. Specifies when initial invoices will be created. Available options:
  • On Activation
  • When Paid or On Activation
• Priority. Used when Invoicing Trigger is set to When Paid or On Activation and specifies which invoice to be created first in case of partial customer payment. The higher the value, the higher the priority.

3. Initial Invoice creation on contract activation

Configure Leasing Initial Invoices Posting Setup for downpayment on financial product:

Create application with downpayment amount:

Activate application:

Navigate to Posted Sales Invoices page and find posted initial invoice:

4. Initial Invoice creation when paid
Configure Leasing Initial Invoices Posting Setup for downpayment with Invoicing Trigger When Paid or On Activation on financial product:

Create application with downpayment amount:

Navigate to Cash Receipt Journal and post payment received from Customer:

Run Initial Invoicing Run procedure:

Navigate to Posted Sales Invoices page and find posted initial invoice: