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Questions About Vendor Prepayment

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Posted on by Community Member Microsoft Employee

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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Community Member Microsoft Employee on at

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RE: Questions About Vendor Prepayment

Great! That works! Thanks so much!
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RobertasR 5,002 on at

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RE: Questions About Vendor Prepayment

Hi Allen,

you simply click 'Release'. System will release the order and If the 'Check Prepayment' is ticked on the Purchases & Payables Setup, then before releasing order system will check if prepayment was paid.

Robertas
Community Member Microsoft Employee on at

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RE: Questions About Vendor Prepayment

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"?
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RobertasR 5,002 on at

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RE: Questions About Vendor Prepayment

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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