Credit Customer Ledger Transactions
Purpose of Transactions with Ledger
Customers who are granted an amount of Credit Limit will only turn into Credit Customers which differentiates them from the regular Customers. After a Credit Customer is given Credit Limit, they can start buying Product(s) using the Credit Limit. For instance, the Credit Customer Computer Express has been provided with 15,000 BDT Credit Limit by Shop Owner. Their Credit Used amount will show 0 BDT unless they purchase Product with Ledger.
Using Credit to Order Products will add to Credit Used
If Product(s) are ordered for the Credit Customer through the Admin Panel with Credit payment, then it will add to the Credit Used amount within their Credit Information. So, the On Credit (Due) can be used to place Orders for Product(s). For this, first click the + button from Orders tab that will redirect to the Cart page. In the cart, fill the Customer’s details, add Product(s) to Cart with desired quantities and click Proceed to save all the changes.
Image 1: Fill out Customer's details and add Products to Cart to order Products with Ledger.
During the checkout process, select preferred Shipping method and select On Credit (Due) as Payment method. Selecting it will display the available Credit Limit and Ending Balance for Credit Customer. Then click Confirm Order to redirect to the order confirmation page where there will be a Print Invoice button to get the invoice printed.
Image 2: Select preferred Shipping method and select Ledger as Payment method to order Products.
On the print invoice page, it will reflect that the payment has been completed with On Credit (Due) indicating the Credit Customer’s payment as Due. Here, the Customer paid 1,600 BDT from their Credit which will remain due until paid through cash or other payment methods to the Shop Owner through Settle Ledger option.
Image 3: Invoice breakdown will show payments completed with Ledger which will be Due.
Using the Ledger Breakdown feature from Credit Information section under Customer dashboard, the Shop Owner can check the Credit transaction after ordering Product(s) on their Ledger Breakdown Page.
Image 4: Import Ledger balance with previous dues will be updated on the Ledger Breakdown page.
Ending Balance Reflected on Credit Customer’s Dashboard
After ordering Products with Credit, the used balance from Credit Limit will reflect under Ending Balance. Here, Credit Customer Computer Express ordered Products with Credit payment, so their Ending Balance is 1,600 BDT.
Credit Customer Import Ledger
Another purpose of Transaction is the Ledger Initial Import which is a feature that can only be used for once by the Admin on Credit Customer’s Dashboard. For instance, if Credit Customer has a receivable or payable amount from any previous transaction, they can be imported with Import Ledger button on Credit Information section.
The Import Ledger feature has Receivable and Payable. Upon clicking the Import Ledger button, the Shop Owner will be asked to confirm if the previous transaction has a Receivable or Payable amount to the Credit Customer.
Payable Amount on Import Ledger
For instance, after clicking the Import Ledger button, if the Shop Owner selects Payable with an amount of 5,000 BDT for example, it will mean that that the Credit Customer will get 5,000 BDT from the Shop Owner. So, selecting Payable based on previous transactions will add to the Payable Amount on Import Ledger.
Image 1: If Shop Owner selects Payable, it will mean that Credit Customer will get 5000 BDT from them.
Import Ledger feature can only be used once, so before setting the Payable, the Shop Owner will have to confirm if all the information is correct. Therefore, after checking all the information, the Shop Owner has to click I Agree to add dues from previous transactions on Credit as shown in the example screenshot below.
Image 2: Before setting Payable, the Shop Owner will be asked to confirm if all the information is correct.
As the Credit Customer will get 5000 BDT from the Shop Owner, selecting Payable for any previous transactions on the Import Ledger will add to the Payable amount that the Shop Owner owes to them.
Image 3: Selecting Payable from previous transactions will add to the Payable Amount on Import Ledger.
Using the Ledger Breakdown feature, the Shop Owner can check previous transaction or payable amount that is transferred through the Import Ledger feature on their Ledger Breakdown Page.
Image 4: Import Ledger balance with previous payable amount will be updated on Ledger Breakdown page.
Credit Customer Ordering Products will deduct from Payable
Even if Credit Customer have dues from the Shop Owner worth of 5,000 BDT as the current example, they will be able to buy Product(s) from the Shop Owner via Credit which will deduct from the Payable amount. For example, Credit Customer Smart Gadget Shoppers have purchased two Product(s) worth of 1,600 BDT from Shop Owner.
Image 1: Credit Customer buying Products from Shop Owner via Credit will deduct from Payable.
After the Credit Customer choose payment method as On Credit (Due) and confirms their Order, 1,600 BDT will be deducted from their already Payable or owed amount of 5,000 BDT from Shop Owner. With Product purchase of 1,600 BDT now, the amount will be deducted and 3,400 BDT Payable amount will be remaining from Shop Owner now. So, a Credit Customer can buy Products from the Shop Owner via Credit to settle Payable Amount.
Image 2: Making Credit payment to buy Products from Shop Owner will deduct from Credit Customer's Payable.
Image 3: Products ordered via Credit will be deducted from the Credit Customer's Payable amount.
Using the Ledger Breakdown feature, the Shop Owner can check the transaction of the Credit Customer on their Ledger Breakdown Page with Payable amount for ordering Products and Credit remaining from Credit Limit.
Image 4: Payable amount for ordering Products will be updated on the Ledger Breakdown page.
Use Payment Gateways to Settle Ledger for Payable
The Shop Owner can pay their remaining dues or Payable amount to the Credit Customer in full amount or in a certain amount through the Settle Ledger feature. For example, the Credit Customer Smart Gadget Shoppers will still get 3,400 BDT from Shop Owner. In this case, the Shop Owner can pay back 3,400 BDT to Credit Customer by using the six payment gateways (BKash, Nagad, Cash, Cheque, Bank Transfer, and Credit Card) available with the Settle Ledger button. Learn how to settle Ledger as shown in a few steps below with screenshots:
Image 1: The Shop Owner can pay back Payable Amount to Credit Customer with the Settle Ledger feature.
The Shop Owner can make payment for the 3,400 BDT Payable amount at once or by a few times through the six different payment gateways. Here, the Shop Owner will pay the Credit Customer 1,000 BDT with the Settle Ledger feature. So, first, they need to click the Settle Ledger button which will open a pop-up where the amount they want to pay needs to be set. For example, here, the Shop Owner wants to pay 1,000 BDT with the Settle Ledger option.
Image 2: The Shop Owner needs to set amount they want to pay to Credit Customer with Settle Ledger.
Then, Shop Owner needs to select one of the six Payment Gateways to make payment for the selected amount to Settle Ledger. For instance, Cheque payment was selected and Cheque Number, Due Date, Bank Name, and Amount was set. Thus, the Shop Owner needs to complete the payment information and hit Submit when done.
Image 3: Shop Owner needs to select a Payment Gateway to pay to Credit Customer with Settle Ledger.
After successful partial payment, a pop-up notification will confirm that the transaction amount 1,000 BDT was completed. Check the transaction reference and gateway used and click Submit to complete the process.
Image 4: After successful payment, a pop-up will show confirmation with the transaction details.
Completing the payment of 1,000 BDT to Credit Customer with the Settle Ledger feature will reflect the updated balance under the Credit Information section. For instance, here after settling Ledger with payment of 1,000 BDT, the Payable amount was automatically updated from 3,400 BDT to 2,400 BDT under Credit Information section.
Image 5: Updated balance will be reflected under the Owed Amount after settling Ledger successfully.
Using the Ledger Breakdown feature, the Shop Owner can check transaction for Payable after Ledger settlement with Payment Gateways on the Credit Customer’s Ledger Breakdown Page.
Image 6: Settling Ledger with Payment Gateways will be updated on the Ledger Breakdown page.
Receivable Amount on Import Ledger
Similarly, after clicking the Import Ledger button, if the Shop Owner selects Receivable with an amount of 5,000 BDT for example, it will mean that the Credit Customer will pay 5,000 BDT to the Shop Owner. So, selecting the Receivable based on previous transactions will add to the Receivable amount on Import Ledger.
Image 1: If Shop Owner selects Receivable, it will mean that Credit Customer will pay 5000 BDT to them.
Import Ledger feature can only be used once, so before setting Receivable, Shop Owner will be asked to confirm if all the information is correct. Therefore, after checking all the information, the Shop Owner has to click I Agree to add receivable amount from previous transactions on Credit as shown in the example screenshot below.
Image 2: Before setting Receivable, Shop Owner will be asked to confirm if all the information is correct.
As the Credit Customer will pay 5000 BDT to the Shop Owner, selecting Receivable for any previous transactions on the Import Ledger will add to the Receivable amount that the Shop Owner owes from them.
Image 3: Receivable from previous transactions will add to the Receivable Amount on Import Ledger.
Using the Ledger Breakdown feature, the Shop Owner can check previous transaction or receivable amount that is transferred through the Import Ledger feature on their Ledger Breakdown Page.
Image 4: Import Ledger balance with previous receivable amount will be updated on Ledger Breakdown page.
Credit Customer Ordering Products will add to Receivable
Though the Shop Owner already owes 5,000 BDT from the Credit Customer, the Credit Customer can still buy Product(s) from them using Credit which will add to the Receivable. For example, Credit Customer Smart Tech Solutions have purchased two Product(s) worth of 1,600 BDT from Shop Owner here.
Image 1: Credit Customer buying Product(s) from Shop Owner via Credit will add to Receivable.
After the Credit Customer chooses payment method as On Credit (Due) and confirms their Order, 1,600 BDT will be added to their already Receivable or existing dues of 5,000 BDT to the Shop Owner. This Product purchase being 1,600 BDT, the amount will be added to and increase Receivable to 6,600 BDT now. If the Credit Customer wants to settle these dues, they can use ten different payment gateways to Settle Ledger.
Image 2: Making Credit payment to buy Products from Shop Owner will add to Credit Customer's Receivable.
Image 3: Products ordered via Credit will add the purchase dues to Credit Customer's Receivable amount.
Using the Ledger Breakdown feature, the Shop Owner can check the transaction of the Credit Customer on their Ledger Breakdown Page with Receivable amount for ordering Products and Credit remaining from Credit Limit.
Image 4: Receivable amount for ordering Products will be updated on the Ledger Breakdown page.
Use Payment Gateways to Settle Ledger for Receivable
In total, the Credit Customer owes 6,600 BDT to the Shop Owner after their Product purchase. If they want to pay back the full amount or a certain amount to the Shop Owner from their Receivable, they can do it with the Settle Ledger option. For example, the Shop Owner will get 6,600 BDT from the Credit Customer Accessories Center BD, which they can pay back to the Shop Owner with the Settle Ledger feature.
In this case, the Credit Customer will try to pay back a certain amount i.e. 3,000 BDT from 6,600 BDT to the Shop Owner by using any of the ten payment gateways (Cheque, Cash On Delivery, Credit Card, SSLCommerz, Nagad, Nagad Manual, BKash Manual, BKash, PortWallet, Cash, and Bank Transfer) available with Settle Ledger button.
Image 1: Credit Customer can pay back an amount from Receivable to Shop Owner with Settle Ledger feature.
The Credit Customer can pay back from their Receivable amount of 6,600 BDT at once or by a few times through the ten different payment gateways. Here, the Credit Customer will pay back the Shop Owner 3,000 BDT with the Settle Ledger feature. First, they need to click the Settle Ledger button which will open a pop-up where the amount they want to pay needs to be set. Credit Customer wants to pay 3,000 BDT here with the Settle Ledger option.
Image 2: The Credit Customer needs to set amount they want to pay to Shop Owner with Settle Ledger.
The Credit Customer needs to select one of the ten Payment Gateways to make payment for the selected amount to Settle Ledger now. Here, BKash Manual payment was selected and BKash (Manual) Transaction ID was set which incurred an additional transaction fee of 61.20 BDT. As demonstrated, the Credit Customer will have to complete their payment information and hit Submit when done.
Image 3: Credit Customer needs to select a Payment Gateway to pay to Shop Owner with Settle Ledger.
After successful partial payment, a pop-up notification will confirm that the transaction amount 3,000 BDT was completed. Check the transaction reference and gateway used and click Submit to complete the process.
Image 4: After successful payment, a pop-up will show confirmation with the transaction details.
When the Credit Customer completes payment of 3,000 BDT to the Shop Owner with the Settle Ledger feature, it will reflect the updated balance under Receivable. For instance, after settling Ledger with payment of 3,000 BDT here, the Credit Customer’s Receivable was automatically updated from 6,600 BDT to 3,600 BDT.
Image 5: After settling Ledger with a Payment Gateway, the Receivable will show updated balance.
Using Ledger Breakdown feature, the Shop Owner can check transactions after Ledger settlement with Payment Gateways by the Credit Customer on the Credit Customer’s Ledger Breakdown Page.
Image 6: Settling Ledger with Payment Gateways will be updated on the Ledger Breakdown page.