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Hello,
I have a few questions about Vendor Prepayment Process.
How should I to do this: Apply the prepayment amount to the purchase order. I didn't see any function button called Apply Prepayment.
The PO status shows: Pending Prepayment. How can it be changed to released? After applying the prepayment?
Please see the process below:
1. Create a purchase order with a prepayment
2. Post a prepayment invoice for the prepayment amount.
3. Send the prepayment amount to the vendor. (Create and Post Payment Journal, and print a check)
4. Apply the prepayment amount to the purchase order. (How to do this?)
5. After the vendor ships the order, create a purchase invoice for the total amount of the purchase order minus the prepayment amount.
6. Send the payment to the vendor and post the payment to the purchase order.
Thanks!
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Great! That works! Thanks so much!
Thanks Robertas!
After posting the Payment Journal for Prepayment Amount. But the PO status is still showing "Pending Prepayment".
If I post the PO to Receive and Invoice, the systems throws out an error "There is nothing to post".
If I try to create Whse. Receipt, I got another error indicating that The PO status should be "Released", but now it is "Pending Prepayment".
How should I change the status from "Pending Prepayment" to "Released"?
Hi Allen,
When you posted a prepayment invoice, system created a vendor ledger entry, the same as for a normal invoice. That means you post the payment via a journal to vendor account and apply to the prepayment invoice.
Hope that helps.
Robertas
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