Prepay/Account Deposit

If a Customer has prepaid an invoice, follow the process for the AR Cash Receipts, then within the Check/Advice Detail screen, Select the Prepay/Acct Deposit to make the allocation.

After selecting the PrePay/Acct Deposit radio button, a Reference Number field is displayed, and a Reference Number must be entered. The name of the Customer selected appears in the application area, and the user enters the amount received as Prepayment in the Amount Received field.

The Invoice/Ref field will be completed with the Reference Number, prefixed with “PPay” for future reference.  The Pre-Pay amount will credit the G/L account default as set up in Accounting Setup.  This is normally A/R Trade Receivables since the Prepayment will appear as a Credit on the A/R Aging.  To offset this payment against another open invoice, you will need to create an A/R Offset .  

If user trys to enter a Negative amount in the Prepayment they will receive the following message:  



If user trys to apply a positive amount against an existing Prepayment they will receive the following message: