Question

How to book the payments on a customer promisory note

  • 14 July 2022
  • 1 reply
  • 27 views

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From time to time, we finance a customer’s purchase by taking a promissory note. How do we book the promissory note?  How do we book the payments on the promissory note and the interest payments?  How do we show the payment of the related invoice?  Any help would be greatly appreciated. 


1 reply

Userlevel 7
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@dougmcbride79 

Here are some of the things I thought of:

  1. Create a Term for those customers with multiple installments
  2. Create an Entry Type of Finance for AR, the only drawback to this is you have to add a flat fee and not a percentage. 

There is also an older article that someone had an idea on CC fees:  

Credit Card Sales Order Fee | Community (acumatica.com)

One of these options may help. 

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