Setting up prepayments
Check that the following setup is completed before invoicing sales prepayment.
| # | Set up | Steps |
|---|---|---|
| 1 | Number Series (REQUIRED) | (1) Enter "No. Series" in the search icon, and then choose the related link (2) To set up the No. Series for "Sales Prepayment Invoice" and "Sales Prepayment Credit Memo" (NOTE: this step only request if separate no, series for Posted Invoice and Posted Prepayment Invoice / Posted Credit Memo and Posted Prepayment Credit Memo) (3) Enter "Sales & Receivables Setup" in the search icon, and then choose the related link\ (4) Assign the "Number Series" Posted Prepmt. Inv. Nos." and Posted Prepmt. Cr. Memo Nos. on "Number Series" tab (NOTE: if use same number series for Posted Sales Invoice and posted prepayment invoice, then verify that the number series for posted prepayment invoices in the Posted Prepmt. Inv. Nos. field is the same as for posted sales invoices (Posted Invoice Nos.), and the number series for posted prepayment credit memos (Posted Prepmt. Cr. Memo Nos.) is the same as for posted credit memos (Posted Credit Memo Nos.). |
| 2 | General Posting Setup (REQUIRED) | (1) Enter General Posting Setup, and then choose the related link. |
| 3 | Shipment Control (OPTIONAL) | If the shipment is not allowed for unpaid prepayment, follow the configuration below for the shipment control (1) Enter "Sales & Receivables Setup" in the search icon, and then choose the related link (2) Select "Check Prepayment when Posting" check box on Genera Tab. (NOTE: when the check box is checked, you can't ship or invoice an order that has an unpaid prepayment amount) |
| 4 | Assign default prepayment percentages to Customer (OPTIONAL) | (1) Open the card for the customer (2) On the Payments FastTab, in the Prepayment % field, and then enter the default prepayment % for the customer or item |
Create Sales Order with prepayments
(1) Enter Sales Orders, and then choose the related link.
2) Choose the New action.
3) Select Customer and fill up the related fields
4) Enter the sales lines
5) Enter the Prepayment %. System will default according to customer card (if any)
6) On the Sales Order Page, choose Actions, then Posting, then Prepayment and then select (1) Preview Prepmt. Invoice Posting if you want to preview the G/L entries after positing then select (2) Post Prepayment Invoice... if the entries is expected.
(NOTE: you can select Post Prepayment Invoice directly if no need to preview the entries.)
(NOTE: Prepayment Credit Memo use for reversing the Prepayment Invoice if needs)
7) Once the Prepayment Invoice you can review the prepayment invoice by choose Related, then Prepayment, then Prepayment Invoices
8) Once the Prepayment Invoice is posted, the Sales Order Status to be change to "Pending Prepayment" automatically.
9) Release the Sales Order manually when the Cash Receipt process for the prepayment invoice is completed.