When editing or creating a bill in Peakflo, you’ll come across the Payment Type field. This field determines how the bill is validated and processed based on the timing of goods delivery and invoice receipt.
Here’s a breakdown of each payment type and how it works:
| Payment Type | What does it mean? | Validations |
|---|---|---|
| Pay on Delivery | Goods are delivered first, and the bill comes after. | 3-way matching validations are run between the bill, purchase order, and receipt note. |
| Advance Payment | The bill is received before any delivery happens. | 2-way matching validations are run between the bill and the purchase order. |
| Delivered and Billed | Delivery and invoice come together in the same document. | 2-way matching validations are run between the bill and the purchase order. |
For "Delivered and Billed" payment type:
- Users must attach one PO to use this payment type.
- Only 1 PO is allowed for this payment type.
- Once the bill is fully approved, the payment type automatically changes to Pay on Delivery.
- When a bill matched with POs is fully approved and uses this payment type, Peakflo will automatically create a receipt note for the matched PO, streamlining the receiving and validation process.
- Received Date field must be filled to ensure accurate tracking of the goods received date when using this payment type.