Installment Plans (Bought)
Use Bought for purchases or obligations you will pay over time. Down payments and later installments reduce the selected wallet when wallet posting is used.
Installment management
Installment Plans Bought and Sold, managed in opposite financial directions
Track what you are paying over time and what customers or companies are expected to pay you, without mixing payable and receivable schedules.
Bought · payable Sold · receivable Optional details Statements
Two directions
Bought means payable. Sold means receivable.
The same Installments section now separates plans by economic direction while preserving the established Bought workflow for existing records.
Definition
An Installment Plan (Bought) tracks an item or obligation you pay over time. An Installment Plan (Sold) tracks a sale for which another person or company pays you over scheduled dates.
Installment Plans (Sold)
Use Sold for installment sales. The unpaid amount remains a receivable and actual advances or installment receipts can increase the selected wallet.
Existing plans preserved
Installment records created before the Sold-plan feature remain Bought plans by default; the upgrade does not rewrite their financial history.
Separate views
Bought and Sold plans are filtered independently so payable schedules do not become mixed with money expected from customers.
Bought workflow
Plan purchases without changing the familiar installment logic.
Bought plans continue to represent money the user expects to pay.
01Create planEnter the counterpart, currency, total amount, start date and installment count.
02Down paymentAdd an optional down payment that can be deducted from the selected wallet.
03ScheduleReview the calculated payment schedule and remaining payable amount.
04PayRecord partial or final installment payments against the original plan.
05StatementOpen the plan details and export the Installment Purchase Statement when needed.
Sold workflow
Track money expected from an installment customer.
Sold plans invert the financial direction without pretending that the full future sale has already reached a wallet.
01Create saleRecord the buyer or company, total sale amount, currency, start date and number of installments.
02AdvanceAn optional advance received can be added to the selected wallet as money actually received.
03ReceivableThe remaining scheduled amount stays identifiable as money still expected from the buyer.
04ReceiveEach installment receipt reduces the outstanding receivable and can add the actual receipt to the wallet.
05StatementThe plan can produce an Installment Sale Statement with receipt history and outstanding balance.
Optional details
Store useful agreement and counterpart context without crowding the creation form.
The optional-details banner stays collapsed by default and follows the compact interaction pattern used elsewhere in Triplem VIP.
Both Bought and Sold plans can retain structured information beyond the required financial fields. These details remain available for later review and can be included in plan-oriented output where supported.
Because the information is structured rather than buried in free-text notes, the plan can keep party and agreement context consistent through editing and detail views.
CounterpartParty & contactParty type, mobile/phone, email and address.
AgreementReference & termsAgreement/reference, payment terms and document reference.
SubjectProduct or serviceDescribe what was purchased or sold under the installment arrangement.
VerificationID, tax & guarantorID/TRN/VAT number, guarantor and guarantor contact where relevant.
Schedule & control
The plan tells you what has happened and what remains.
Progress
Bought plans show amounts paid and remaining; Sold plans show amounts received and outstanding receivable.
Next due
The schedule identifies the next open installment and its due date when an unpaid balance remains.
Partial or full settlement
Payments and receipts are validated against the remaining amount so an entry cannot exceed the plan balance.
Plan statements
PDF output uses purchase/payable language for Bought plans and sale/receivable language for Sold plans.
Accounting boundary
Installment Plans Sold is an operational receivable workflow. It does not automatically become formal Accounting Accounts Receivable, and Bought plans do not automatically post Accounts Payable journals unless the Accounting workflow explicitly records them.
Practical questions
Keep future obligations separate from actual cash movement.
Does the full Sold amount enter the wallet immediately?
No. Only money actually received, such as an advance or recorded installment receipt, should move into the selected wallet.
Can I keep buyer contact details?
Yes. Sold plans support structured optional contact, agreement, product/service, tax/ID and guarantor information.
Can a plan be edited later?
Yes. The plan editor preserves Bought/Sold direction, details and schedule context while applying the module's existing edit controls.
Does it appear in Financial Timeline?
Yes. Plan creation can appear as a neutral event, while actual Bought payments and Sold receipts carry outflow or inflow direction.