What is a partial payment for PTRS?

Quick answer

A partial payment is a payment that does not fully settle the related payment obligation.

What does this mean?

Partial payments remain in the Trade Credit Payment Dataset, but they are excluded from payment-time calculations until the relevant obligation is fully settled. The payment that ultimately discharges the obligation is treated separately for the relevant payment-time calculations.

Practical point

Do not assume every payment against an invoice is a separate completed payment obligation. You need to determine whether the payment actually settled the obligation or was only a partial payment.

Other ways people ask this

• How are partial payments treated for PTRS?
• What happens if an invoice is only partly paid?
• Do part payments count in payment-time calculations?
• Which payment date do I use when an invoice is paid in instalments?

Official sources

• Payment Times Reporting Guidance Materials
  Preparing the TCP Dataset
  Paragraphs: 135, 136, 137 · Page: 35-36
• Payment Times Reporting Guidance Materials
  Excluded payments – Partial payments
  Paragraphs: 164, 165 · Example: 37 · Page: 41-42
• Worked Example – Standard Payment Times Report
  Glossary
  Reference: Partial payment

Related guidance

• How is payment time calculated for PTRS?
• What is a trade credit arrangement?
• Are disputed payments included in PTRS?

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