Question

What are the results when you post an outgoing partial payment?Note_ There are 2 correct answers to this question.

1) The initial invoice remains open.
2) The initial invoice is cleared.
3) A payment is created with reference to the invoice.
4) A payment block is set on the invoice.

Answer 1

Posting an outgoing partial payment can either leave the initial invoice open or clear it.

Step-by-step explanation:

When you post an outgoing partial payment, there are two possible results:

1. The initial invoice remains open.
2. The initial invoice is cleared.

If the initial invoice remains open, it means that the payment made is only a partial payment and there is still an outstanding balance. The payment is usually recorded as a credit or a payment on account. On the other hand, if the initial invoice is cleared, it means that the payment made fully covers the outstanding balance and the invoice is marked as paid in full.