What is Residual Payment and Part payment.

Answer Posted / rajesh 20pute

Partial Payment :- When you make a partial payment, it does
not clear your invoice. Both the original invoice entry and
the payment entry will be shown in the customer/vendor
account as open items.

Residual Payment :- In case of residual payment, even
though a part of the invoice amount is paid, it clears the
original invoice. System will create a new document for the
balance amount and this document will be shown as open
item. The original invoice document and the payment
document will be shown as cleared items.

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