Glossary

    What is part payment?

    A part payment is when a customer pays some of an invoice but not all of it.

    Thank them for what's been paid and agree a date for the rest. The remaining balance is still owed.

    Example

    A customer pays $500 of a $1,200 invoice. The $700 balance is followed up.

    In Australia

    Payments recorded in Xero or QuickBooks show the remaining balance automatically.

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    General information only, not legal or financial advice.

    All termsOverdue invoiceUnpaid invoiceAccounts receivableAged receivablesDays sales outstanding (DSO)Payment termsEOM termsLate payment fee

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