This article describes how to create invoice documents and manage installments and down payments in Sitoo POS.
Activate the subscription add on for Invoice and Down Payment
In order to use invoice, deposit and down payments you need to enable these as a subscription add on.
Create a product named Deposit
- Go to your Backoffice > Settings > Product Groups.
- Create a new Product Group for Down Payment with 25% VAT. (*)
- Go to Backoffice > Products.
- Click the plus icon in the top left
- Add a product named "Deposit" or ("Down Payment")
- Scroll down to the Price section of the product. Under Product Group, pick the Product Group you just created.
- Deselect Active - Webshop (Active - POS must be selected)
Go to Settings > General.
Scroll down to the section till sektionen Invoice & Down Payment (Only available if the add on is activated)
Click "Pick" and type Deposit (or Down Payment) and then click Save.
When a payment for a deposit is received, also VAT is due to be payed. The deposit shall have the same VAT rate as the goods it refers to.
Add a invoice and down payment option
- Go to Sitoo Backoffice > Settings > POS Payment Options.
- Click the add icon at the upper left corner
- Enter Invoice in the empty textbox.
- Choose payment method Invoice.
- Click Save.
- Once again click the add icon at the upper left corner.
- Enter Down payment in the empty textbox.
- Choose payment method Cash on delivery.
- Click save.
- Now you have two new payment method on the cash register.
When a payment option with the payment method Invoice is used, an order with invoice information is created in the system. Based on the order you will then create your own invoices. If you have an integration to a business system, such as Fortnox, you can set the order automatically for your further payment.
Sitoo does not create the complete invoice for you, only the invoice information is compiled as a basis for your actual invoices.
Use invoice as a means of payment
- A customer buys in store and chooses to use invoice as a means of payment.
- An Order confirmation is printed in two copies from the receipt printer. One copy must be signed by the customer and the other copy handed to the customer as a
proof of purchase.
- The customer signs the order confirmation and credentials are checked.
The policy could be that the customer must already have been approved as an invoice customer and therefore included in the system with complete invoice information for the invoice to be possible as payment method.
- The customer leaves the store with the purchase.
- Now there's an open order in Sitoo Backoffice with complete invoice information, ready to be used as a basis for the invoice.
If you have Fortnox, you can automatically ship the order to Fortnox where you produce the invoice, which can be distributed via Fortnox with email or mail.
- When the invoice is created, return to Sitoo Backoffice and close the order.
The subscription add on called Invoice, does also includes a down payment functionality. Handling down payment means that you can secure a part of the payment directly, known as a part payment, which reduces the financial risk that you take when offering invoice as a payment method.
Use down payment as a means of payment
- The customer completes a purchases of 1 200 €, paying 200 in advance, a so called down payment.
- First add the item to the shopping cart and press Total to access the payment step.
- Mark the square icon to the upper right to be able to split the purchase into two more payment options.
- Choose payment method Down payment. Enter the sum of 1 000 €.
- Add another payment method of the customers choosing. Enter the remaining sum of 200 €.
- At this moment only 200 € has been payed. The remaining part of 1 000 € is placed as a booking in the cash register, ment to be payed at a later time.
- When the customer is due to pay the last part of the purchase, press Fetch > Bookings > choose the customers order and place it in the shopping cart.
- Press Total to access the payment step and choose the payment method that the customer wishes to pay with.
- Complete the purchase.
This is how a down payment works technically
Same example as above. An item is purchased for a value of 1 200 €, of which 200 € is paid directly upon purchase.
The VAT reffered to in the example below is Swedish VAT
At the time of orderplacement
- A receipt of the "Deposit product" 200 € ⇒ Sales 160 € and VAT 40 €
- A booking is created in Backoffice with:
- Product 960 € (VAT 240 €)
- Deposit -160 € (VAT -40 €)
Upon delivery - The booking is fetched in the system
- Refund of 200 € (VAT 40 €) ⇒ -200 € in cash
- Purchase 1 200 € (VAT 240 €) ⇒ 200 € cash and 1 000 € with credit card
This subscription add on also includes the possibilities of something we call home loans. A home loan means another service that you now have the opportunity to offer your customer. Through home loans, the customer can borrow a product over an agreed period of time in exchange for the customers billing information. If the customer chooses to keep the item, and thus does not return it, you invoice the customer. You will then be paid afterwards. This is done as a booking. Then the value of the goods, date of lending and information about who borrowed the goods are stored. Of course, the stock is also updated.