After submitting the Invoice Discounting form, click on the Disburse Loan.
8. You'll be taken to a Journal Entry screen. Save and Submit the Journal Entry.
3.1 Import Invoices
Click on 'Get Invoices' button to import invoices. You can import invoices by filtering on certain criteria.
Invoices created against a specific Customer.
Date range between which the invoices were raised.
Minimum and maximum amount.
You can also specify multiple of the above filters.
3.2 Closing the Loan
When you repay the loan at the end of the loan period or before that, you can update the same by clicking on 'Close Loan' button.
System will prepare the Journal Entry. Review and Submit the it.
3.3 Auto Update of Ledgers at the end of Loan Period
If the loan is not repaid at the end of loan period, system will create a Journal Entry via a scheduled job to shift value from 'Accounts Receivable Discounted Account' to 'Accounts Receivable Unpaid Account'. This will make it easy to trace the invoices which were discounted and remained unpaid at the end of the loan period.