Entry and Payment Lifecycle

As payment and settlement progress, the amount values and statuses of entries, entry items and payments change.

This article gives an example that illustrates the behavior in the following simple use case:

• Create an entry that represents a receivable,
• Trigger a payment operation,
• Collect the money, and
• Settle the receivable.

Step	Entry	Entry Item	Payment
Create entry	Status = Open Open amount = 100 Expected amount = 0 Settled amount = 0 Outstanding amount = 100
Trigger payment Creates payment and entry item	Status = Open Open amount = 100 Expected amount = -100 Settled amount = 0 Outstanding amount = 100	Expected amount = -100 Amount = 0	Status = Issued/Pending Open amount = -100 Settled amount = 0 Assigned amount = 0
Collect payment Not "tangible", intermediate state during processing only	Status = Open Open amount = 100 Expected amount = -100 Settled amount = 0 Outstanding amount = 100	Expected amount = -100 Amount = 0	Status = Collected Open amount = -100 Settled amount = -100 Assigned amount = 0
Settle entry and payment	Status = Balanced Open amount = 100 Expected amount = 0 Settled amount = -100 Outstanding amount = 0	Expected amount = 0 Amount = -100	Status = Collected Open amount = -100 Settled amount = -100 Assigned amount = -100