Supplier Prepayment
From TrueERP wiki
Overview
A Supplier Prepayment is a payment that you, the Customer, make in advance of receiving goods/services, and being invoiced for them. A Pre-payment will be allocated to the balance of the Supplier account within ERP ready to be assigned upon receipt of an invoice for the goods/service received.
How To Create a Supplier Pre-payment
- Select thePayments tab.
- Select Supplier Prepayment button.
- Select the Supplier from the drop-down list.
- The Currency will default to the Supplier default, refer New Supplier for details.
- Enter the total of the payment you are making, e.g. $550.00
- Payment Date will default to the date of entry. Select a different date if required.
- Select the Payment Method from the drop-down list.
- Enter the Reference, e.g. Chq Number.
- Department will default to that of the Employee logged in, or the Supplier if a department has been assigned to that Supplier.
- Select the Bank Account the payment is to be made from.
The Receipt #' will auto load as the next in sequence for your ERP database. Enter information regarding the prepayment into the Notes field. Select the Add to EFT tick box if you are making the payment via on-line Bank Transfer. Refer to EFT for further instructions.
Select Save to save and close the payment at this point.
Select the Saved Prepayment from the Prepayment List. The 'Available Credit' is now displayed as $550.00. As you take up this credit the 'Applied Credit' field will be updated accordingly and the 'Available Credit' field will be reduced. Select the 'Print Receipt' button to print a hard copy of the prepayment.
NB: The Prepayment Receipt is a template that can be re-designed to suit your needs.
Select the 'Deleted' tick box to delete the prepayment. The 'SAVE' button will now be available to select.
A Prepayment will be displayed in the Supplier Payment window as a 'Prepayment' credit.
