Some customers will assess fines for a late shipment and will short pay the invoice. What is the best was in IFS to balance out that invoice and correctly record the fine for tracking and GL?
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There are a couple ways.
In mixed payments, a write-off code could be used. These need to be setup, and posting rules updated if they have not been already.
The other option is to use the customer offset proposal process. This also requires write-off codes to be setup and their associated posting rules.
There is also an option in the company master, in the payment tab to setup automatic write-offs with specific parameters.
Hello,
If you accept the fines, you can issue customer credit note for customer for fine amount - and then offset it with remaining invoice value - instead of using write-off codes.
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