Entering Prepayments
To enter a prepayment:
1. In the Invoices window select Prepayment as the invoice Type and enter all basic invoice information. See: Entering Basic Invoices. Before entering distributions, proceed with the next two steps.
2. Select a Prepayment Type:
- Temporary. You can apply this prepayment to invoices after you approve and pay it.
- Permanent. You cannot apply this prepayment to invoices.
3. Optionally enter a purchase order number to restrict the application of the prepayment to invoices matched to this purchase order.
Optionally change the Settlement Date. Payables will not allow you to apply a Temporary prepayment to invoices or expense reports before this date.
Optionally review or modify the scheduled payment. Payables automatically creates a single scheduled payment using Immediate payment terms. You can change the due date, payment method, or payment priority of a prepayment. You cannot create multiple scheduled payments or enter discounts.
5. Approve the prepayment as you would any other invoice. See Approval.
See Also
Implementing Sequential Voucher Numbering
Prepayment Restrictions