How do I record a payment on a contract and follow up on arrears?

Every amount a customer pays is recorded against their contract, and from those payments the balance and the arrears reports are built.

Recording a payment

1. Open the contract and go to the Financial tab — Figure 1.
2. Enter the amount, the payment date and the payment method, then save.
3. The financial summary updates at once: total paid and remaining amount.
4. Print the receipt for the customer from the print button on that payment row.

Following payments and arrears

1. Contract payments — Figure 2 — lists every payment with its date and method, and can be exported.
2. Outstanding payments — Figure 3 — lists contracts with a balance; this is the collection clerk’s daily worklist.
3. For the age of the debt use Reports → Aging.

Notes

• Enter the real payment date, not today’s; cash reports are built on the receipt date, not the contract date.
• A deposit paid at booking is recorded like any other payment; only its date differs.
• Do not record the security deposit here; it has its own screen, and mixing them inflates your income with money that is not yours.
• Check the arrears list before renting another vehicle to a customer who already owes you.