Creating Prepayment Invoices

If you require your customers to submit payment before you ship an order to them, or if your vendor requires you to submit payment before they ship an order to you, you can use the prepayment functionality.

After you create a sales or purchase order, you can create a prepayment invoice. You can use the default percentages for each sales or purchase line, or you can adjust the amount as necessary. For example, you can specify a total amount for the entire order.

To Create a Prepayment Invoice:

  1. Create a new sales or purchase order and fill in the header.

The Prepayment % field on the header will be filled in automatically if there is a default prepayment percentage on the customer card. You can change the contents of the field. The prepayment percentage is only copied from the header to lines that do not copy the default prepayment percentage from the item.

A check mark in the Compress Prepayment field means lines will be combined on the invoice if:

Leave the field blank if you want to specify a prepayment invoice with one line for each sales order line that has a prepayment percentage.

  1. Fill in the sales or purchase lines.

If default prepayment percentages have been set up for your items, the program automatically copies the default to the Prepayment % field on the line. Otherwise, the prepayment percentage is copied from the header. You can change the contents of the Prepayment % field on the line.

  1. If you want to apply one prepayment percentage to the entire order, change the Prepayment % field on the header after filling in the lines.

  2. You can view the total prepayment amount by clicking Order, Statistics. If you want to adjust the total prepayment amount for the order, you can change the contents of the Prepayment Amount field in the Sales Order Statistics window. (If the Prices Including VAT field on the sales header contains a check mark, the Prepayment Amount Incl. VAT field is editable. If the Prices Including VAT field on the sales header does not contain a check mark, the Prepayment Amount Excl. VAT field is editable.)
    If you change the contents of the Prepayment Amount field, the amount will be distributed proportionately between all lines, except those that have 0 in the Prepayment % field.

  3. You can print a test report before posting the prepayment invoice. To do so, click Posting, Prepayment, Prepayment Test Report.

  4. To post the prepayment invoice, click Posting, Prepayment, Post Prepayment Invoice.

To post and print the prepayment invoice, click Posting, Prepayment, Post and Print Prepmt. Invoice.

You can issue additional prepayment invoices for the order. To do this, increase the prepayment amount on one or more lines, adjust the document date if necessary, and post the prepayment invoice. A new invoice will be created for the difference between the prepayment amount(s) invoiced so far and the new prepayment amount.

When you are ready to post the rest of the invoice, post it as you would post any invoice, and the prepayment amount will automatically be deducted from the amount due.

Related Topics

Setting Up Prepayments

Correcting Prepayments

 



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