Create an installment transaction

An installment transaction is a sale where the customer takes the goods now and pays for them in installments. You create it on one page: Sahab builds the installment schedule and records the down payment, if there is one.

Before you start

• An Owner, a Manager or anyone with the Installments clerk role can create installment transactions.
• The company needs at least one receivable account. If there is none, a message at the top of the page links to Accounts so you can add one.
• You can add the customer and the category from the form itself if they don't exist yet.

Customer and lines

1. Go to Installments → Installment transactions and press New installment transaction. You can also press it on the customer's page, and the customer is filled in for you.
2. Under Parties & receivable, pick the Customer. If they aren't there, press + next to the field to add a New customer.
3. Pick the Category, or add a New category with the + next to it.
4. Check the Receivable account. If the company has more than one branch, Selling branch also appears: leave the default or pick the branch.
5. Under Transaction lines, press Add inventory item for one of your items, or Add manual line for something that isn't in stock.
6. Enter the Quantity and Unit price for each line. If you gave the customer money off the goods, enter it in Goods discount.

If any line is an inventory item, Stock timing shows the company's default from its settings. Press Change to choose When the transaction is created, When down payment is collected or Manual deliver. Manual lines never take anything out of stock.

Pricing and schedule

1. Under Pricing, choose how Murabaha is set: Percent or Fixed, and enter the value your company uses. Choose None if there is no murabaha.
2. For a discount on the whole transaction, press Add transaction discount. This step is optional.
3. Check the Financed total: the lines total after the Goods discount, plus murabaha, less the transaction discount. The down payment comes out of it, and the rest is paid in installments.
4. Under Schedule, enter the Down payment amount (0 if the customer pays nothing today), then the Installment amount.
5. Sahab works out the Number of scheduled installments to cover the balance; you can change it.
6. Pick the First scheduled installment date and the Frequency: Weekly, Every 2 weeks or Monthly.
7. If you entered a down payment, Down payment collection appears. Pick the Payment method; for cash, enter the Amount tendered to see the Change due.
8. Add a guarantor under Sponsors if the transaction needs one, and a note with Add note if you like.
9. Press Create installment transaction. The transaction's page opens with its installment schedule.

On a large screen, the Transaction summary sits next to the form with a Schedule preview of the due dates. On a phone, the Remaining amount and the create button stay at the bottom of the screen. If the button stays disabled, a message tells you what's missing.

Tip: If you changed the number of installments yourself and the schedule no longer matches the balance, or the last installment would be bigger than the rest, Sahab suggests another count. Press Use suggested.

If the transaction would push what the customer owes above their Credit limit, Sahab asks for an approval before saving.

After you create it

The customer, lines, prices and schedule are locked once the transaction is created. If one of them is wrong, a manager or the owner replaces the transaction with Correct transaction.

If you chose Manual deliver, press Deliver stock on the transaction's page when the goods leave. With more than one stock location, pick one in Deliver from.

Note: The murabaha rate and any discount are your company's decision. Sahab never sets a rate for you.

What's next

• Sponsors — add a guarantor once and link them to any installment transaction.
• Collect an installment — record what the customer pays.
• Dues and overdue installments — follow what is due today and what is late.