Most stores and lumber yards that are serious about special orders require a deposit to be placed on account by the customer at the time this special order is placed. The problem encountered by many businesses is where and how to account for these deposits. Paladin Data Corp has always been adamant that every cent be accounted for, is always traceable and nothing ever exists off-books. If a customer is to pay a deposit, it is truly a deposit held in an accounts receivable system, not a prepayment of a specific (future) invoice.
Paladin POS now contains a cool new feature that tightens up accounting practices AND is easier for sales personnel to use. This new feature, if enabled, requires sales personnel to record enough information about your new customer to automatically create a zero credit limit account for this person. With this information their deposit is automatically shown as cash received for the day AND an account payment into A/R. Since most stores are working diligently to collect personal information on all their customers, this new feature plays directly towards this goal.
When a Special Order quote is stored (and the customer has not been selected on the invoice), one of two information boxes appears. If the new feature is enabled, you are requested to enter the customer’s name, address, city, state, zip and a phone number. If the feature is not enabled, the previous screen requesting customer name and phone number is still displayed.
Now that special orders may be allowed to create an accounting record specific to this customer, write up the special order quote and then write an Account Payment accepting their deposit. When the customer accepts delivery of the special order, press F2 Charge and all available pre-payment funds will be applied to this invoice. The balance owing may be paid by any combination of the remaining payment types.
Naturally if a customer is identified on the Invoice/Quote screen during creation of the special order, all customer specific parameters are followed including credit limit.
To enable this new feature click File – Setup – Company – Special Orders and check the box beside “Allow Special Orders to Create Customers” and click Save to record your changes.
If you have questions or suggestions about this information, contact firstname.lastname@example.org.