A payment is a transaction posted to a customer’s billing account that reduces the total amount owed by the customer.
A payment transaction can be created directly from a billing account. A payment can be data entry only, such as moving a payment between billing accounts, or initiating an exchange of funds through a payment gateway, such as PayPal. Refer to Payment Gateways for more information.
Many payment transactions are created through the Customer Billing application or when an auto-payment is processed, for example:
Payment Matching — Payment transactions are created using bank files and applied to open invoices when a matching open invoice is found.
Auto-Payment — Payment transactions are created and funds exchanged through a payment gateway for any open invoices on a billing account with a designated auto-payment payment method. Auto-payments are initiated for undisputed, open invoices and scheduled payments included in a Payment Plan. An account must be setup up to accept auto-payments to use this method. Refer to Create Customer and Associated Billing Accounts for more information on selecting this option on an account.
A completed payment can be applied to open invoices if the payment was not already fully applied. Payments can be applied during the payment entry or payment matching process, reducing the need to apply your payments after they are created. You can reallocate the payment application to change the invoice(s) the payment applies to or reverse the payment application completely, leaving the payment open to be applied in the future.
A completed payment can be partially or fully canceled and/or refunded by credit card or PayPal. Canceling a payment can be used to correct data entry errors or move payments.
Refer to Payments Report Details Knowledge Base article for more information on creating a report that includes payment details.
Refer to the following topics for additional information about creating and working with payments, as well as payment methods, payments plans, and payment retry schedules and reason code groups, in the Payments module: