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 Collected 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 Collected 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 Collected amount = -100 Assigned amount = -100 |