How are promised payments marked as paid?

Automatically Marking Promises as Paid

A promised payment is automatically marked as paid when a payment is made against the invoices involved in the promise, and the targeted allocated amount of the invoices involved in the promise are met.

Consider the following scenarios:

Scenario 1:

Promise 1 is created of $250 against INV001.

When a $250 payment is allocated against the invoice in the accounting system, once the data is synchronised into Credit Hound Cloud, Promise 1 will be automatically marked as paid.

Scenario 2:

Promise 1 is created of $250 including both transactions, INV002 and INV003.

When a $250 payment is allocated against either invoice in the accounting system (e.g. $200 allocated to INV002 and $50 allocated to INV003), once the data is synchronised into Credit Hound Cloud, Promise 1 will be automatically marked as paid.

Scenario 3:

Promise 1, Promise 2, Promise 3 created of $100 each against INV004.

When a $100 payment is allocated against the invoice in the accounting system, once the data is synchronised into Credit Hound Cloud, all 3 promises will be marked as paid.

Manually Marking Promises as Paid

A promised payment can also be manually marked as paid using the ellipsis icon (more options) in the Promises List or Promises Breakdown screens.