Activate Down payment

This article describes how to create down payments in Sitoo POS.

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Activate the subscription add on for 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

1. Go to your Backoffice > Settings > Product Groups.
2. Create a new Product Group for Down Payment with 25% VAT. (*)
3. Go to Backoffice > Products.
4. Click the plus icon in the top left
5. Add a product named "Deposit" or ("Down Payment")
6. Scroll down to the Price section of the product. Under Product Group, pick the Product Group you just created.

Go to Settings > General.

Scroll down to the section Invoice & Down Payment (Only available if the add on is activated)

Click "Pick" and type Deposit (or Down Payment) and then click Save.

Add a invoice and down payment option

1. Go to Sitoo Backoffice > Settings > POS Payment Options.
2. Click the add icon at the upper left corner
3. Enter Down payment in the empty textbox. 
4. Choose payment method Cash on delivery.
5. Click save.
6. Now you have two new payment method on the cash register.

Down Payment

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

1. The customer completes a purchases of 1 200 €, paying 200 in advance, a so called down payment.
2. First add the item to the shopping cart and press Total to access the payment step.
3. Mark the square icon to the upper right to be able to split the purchase into two more payment options.
4. Choose payment method Down payment. Enter the sum of 1 000 €.
5. Add another payment method of the customers choosing. Enter the remaining sum of 200 €.
6. 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.
7. 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. 
8. Press Total to access the payment step and choose the payment method that the customer wishes to pay with.
9. 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.

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

Home loan

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.