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Use Case: Tracking of Payment transfers between accounts performed through Invoice settlement

 

The unapplied functionality of Zuora’s Invoice Settlement offers a wide range of features with respect to the payments. Amongst all Others, Transferring of Payments from One Account to Another instantly in the UI comes in handy to customers.

While it is seamless to transfer unapplied amounts from one account to another, it is also crucial to track these transfers in the system. This can be done using the ‘Payment Application’ Data source in Zuora.

 

Payment Application datasource is used to track the amount change on a Payment and the balance change on an account, Invoice and Debit memo.

it is generated by payment operations, such as Create, Apply, Unapply and Transfer.        

 

Create a Report to track Account to account Payment transfers using the Payment application data Source.

 

  1. Go to Zuora Tenant, Click on ‘Data sources’ under Reporting Section.
  2. Select ‘Payment Application Item’ in the Data Source.
  3. In the Related Fields, under ‘Payment Application Item’ check on ‘Amount’ and ‘effective Date’.
  4. Click on Account and Check on ‘Account Number’ and ‘Account Name’.
  5. Click on Payment and Check on ‘Payment Number’
  6. In the filters, Select Field: Payment Number and enter the Specific payment Number.Ex: P-00000880
  1. Select the Format and Click on Export.

Steps to build the report

 

Note: By Including the Invoice and Debit Memo Objects to the same Report, it is possible to track the payment applied to invoice and Debit memos as well.

 

A Report will be Generated as shown below.

 

Capture.PNG

 

  1. A Payment of 2000$ with no Reference to specific account or Invoice is Received.
  • Blank Account Number in the Report. (Line-1)

 

  1. 2000$ Transferred to Account: ABC Corp.
  • -2000 for Removal from Unapplied amount. (Line-2)
  • +2000 for addition to account: ABC Corp (Line-3)

 

  1. 1000$ is been applied to an Open Invoice under account: ABC Corp
  • -1000 for Removal from account object (Line -4)
  • +1000 for addition to the Invoice - INV00001320 (Line-5)

 

  1. Remaining 1000$ transferred to another account: Balkan Oil Services.
  • -1000 for Removal from account: ABC Corp (Line -6)
  • +1000 for addition to account: Balkan oil Services (Line-7)

 

  1. 1000$ is applied to an Open Invoice in Account: Balkan Oil Services.
  • -1000 for Removal from account object (Line -8)
  • +1000 for addition to the Invoice - INV00001329 (Line-9)

Using this Report, you can track and Report all the actions performed on a Particular Payment (Unapplied or Applied). The actions include: Create, Apply, Unapply, Transfer.

1 REPLY 1
Community Manager

Re: Use Case: Tracking of Payment transfers between accounts performed through Invoice settlement

This is great...thanks for sharing this use case, @Kiran_Rajan !


Lana Lee | Senior Community Manager and Strategist
"A little consideration, a little thought for others, makes all the difference." —A. A. Milne