Residual Payment vs. Partial Payment: Design considerations

We need to decide between implementing residual payment vs. partial payment. We will be implementing payment processing.

I would like to understand why one would choose one method over another?

What is the benefit of clearing original invoice and creating a new line item for the balance (as in case of residual payments)? There is a setting that allows user to capture the original invoice date at the time of payment processing while using residual payment, which I believe makes the residual payments same as partial payments, so again, why would one choose one method over another?

I would like to understand the benefits & limitations of each method.

How does the decision to implement a method get impacted if reason codes are to be implemented, which method would offer a better solution considering reason codes requirement?

Appreciate your inputs.

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