When a customer makes a purchase from a company , they often have the choice of paying the entire amount upfront or spreading it across multiple installments. Odoo offers a down payment tool designed precisely for managing these scheduled payments. The utility of down payments becomes evident in their ability to enhance cash flow by collecting upfront payments from customers. This becomes particularly beneficial for small businesses or those dealing with seasonal sales variations. The option of down payments serves to boost sales as well , as it enables customers to afford products or services more comfortably. The need to pay the full amount upfront is eliminated , making purchases more accessible. In essence , down payments emerge as a valuable approach to both improving cash flow and ensuring successful sales. When integrated effectively into business practices, they contribute to growth and financial stability.
The Odoo 16 Point of Sale (POS) module simplifies the management of down payments , providing a streamlined way to monitor payments and ensure accurate customer invoicing. Down payments play a pivotal role in rendering products and services more attainable for customers by allowing them to pay gradually. This feature is particularly valuable for businesses selling high – value items or creating to customers with budget constraints. In odoo 16 POS , the configuration of down – payments is flexible , allowing them to be established as either fixed amounts or as a percentage of the overall sale.
Now , let’s delve into the topic of down payments within the Odoo 16 Point of Sale (POS) module. To utilize the down payment functionality offered by Odoo 16’s POS module, your first step is to create a sales order within the sales module.
Let’s Choose the products and the customer for the sale orders, as we always do. After confirming the sale order , the products will be reserved for this sale order. As you can see, the delivery button is formed , and the product is ready for shipment.
Now, head into the POS module and complete the configuration of the down payment options in the settings.
In this section , you can establish the Down Payment product. This product will be employed in the order line when applying down payments. Once you have configured the down payment settings , proceed to initiate a fresh session within the Point of Sale ( POS ) module.
Within the Point of Sale (POS) interface , the Quotation / Order button is visible. Upon clicking this button, a list of sales orders or quotations created in the sales module becomes accessible. If you wish to narrow down the displayed sale orders, you can apply a filter by examining the sale orders associated with a specific customer within the customer form.
Once you have selected the customer , proceed to click on the Quotation / Order button . This action will present you with a compilation of sales orders or quotations linked to the chosen customer. From this list , pick the specific sales order for which you initiate a down payment.
Upon choosing the desired sale order , a wizard will appear , as shown in the image provided above. Within this wizard , two distinct options are presented: Apply for Down Payments and Settle the Order. Using the Apply Down Payment button , you have the capability to configure the down payment. This involves specifying the percentage of the down payment you wish to establish.
Within this wizard, you can readily observe the total amount allocated to this specific order. At this point, you have the choice to select the percentage of the total amount you intend to provide as a down payment. After making your percentage selection, proceed by clicking the “OK” button.
Thus , in this context , the initial installment of the order is presented , calculated and indicated in the order line. Subsequently , proceed to click the Payment button to finalize and conclude the payment process.
Following the initial installment , the customer will proceed to make the complete payment , thus finalizing the order. To accomplish this , once more , access the Quotation / Order button. After selecting the pertinent order , proceed by clicking the Settle the Payment button.
By selecting the “Settle the Order” option, you have the ability to fulfill the remaining payment in its entirety.
In the order lines , you will now observe that the earlier down payments have been subtracted , leaving you with the option to settle the remaining amount.
Now, let’s examine the current status of the recently generated sale order within the sales module.
In this instance, the down payments have been incorporated into the order, and you’ll notice the intelligent button for Point of Sale (PoS) transactions positioned at the top.
By opting for the transaction button, you can access a detailed view of the order, including particulars like order reference, associated PoS session, receipt numbers, and more.
In conclusion, Odoo 16 Point of Sale offers a user-friendly method to accommodate down payments from customers. By adhering to the steps elaborated in this blog post, you can seamlessly configure your POS to accept down payments and meticulously track them within your accounting system. This approach is instrumental in enhancing cash flow and mitigating the potential for unpaid debts, as it guarantees partial payment from customers even when the complete amount is not received. This strategy is particularly advantageous when dealing with high-value items or customers who may have a history of delayed payments.