Prepayment Settlement for Charges and Sales Tax: Newest Levridge R2 Feature

By Levridge staff | Updated: Jan 3, 2024 | News , Product Updates , Release Notes | read

Flexibility is key when dealing with sales. Recognizing this, businesses now have the option to apply prepayments to cover sales tax, along with additional charges on sales orders. This strategic approach is made possible through advanced features and functionalities in Ag Sales.

Comprehensive Payment Settings

The latest enhancements in Ag Sales empower companies to apply prepayments exceeding the product total. This functionality extends to covering charge codes and sales/use tax, offering a comprehensive solution for businesses dealing with intricate sales scenarios.

Manual Control

While the system won’t automatically apply prepayments to cover charges or sales tax, you have the flexibility to manually adjust prepayments on sales order lines. This hands-on approach ensures that businesses retain control over their financial transactions, allowing for nuanced decision-making.

Post-Invoicing Flexibility

Even after the sales order has been invoiced, the system permits you to apply prepayments to cover charges or sales tax. This post-invoicing feature adds a layer of adaptability, acknowledging that business dynamics can change even after the initial transaction.

Expanded Options in Ag Sales

A significant improvement comes in the form of an added option on the Payments tab in Ag sales, enabling prepayment for charges and taxes. This streamlined process simplifies financial management and ensures that businesses can meet their tax obligations seamlessly.

Intelligent Split Orders

The system facilitates the application of prepayments on the Split Orders dialog, particularly when there are splits on at least one order line. This intelligent functionality optimizes the allocation of funds, enhancing financial accuracy in complex sales scenarios.

Comprehensive Adjustments

You are granted the ability to adjust sales tax during the packing slip and invoice posting dialogs. However, a warning mechanism is in place to alert you when prepayments are applied to order lines, preventing inadvertent errors.

In conclusion, the incorporation of these advanced functionalities not only streamlines the sales process but also empowers businesses to adapt to evolving financial landscapes. By offering flexibility in prepayment applications, businesses can navigate the complexities of taxes and charges with ease, ultimately contributing to more efficient and accurate financial management.