Create Prepayment Transaction Types

Use the Manage Transaction Types page to create prepayment transaction types.

Create one or more prepayment transaction types with the Transaction Class of Invoice and the Transaction Subclass of Prepayment.

To create a prepayment transaction type:

1. Navigate to the Manage Transaction Types page.
2. Click the Plus (+) icon to open the Create Transaction Type page.
3. In the Transaction Type Set field, select a reference data set.
4. In the Name and Description fields, enter a name and description that identifies the transaction type as a prepayment transaction type.
5. In the Transaction Class field, select Invoice.
6. In the Transaction Subclass field, select Prepayment. This sets to read-only:
   • Creation Sign field with Positive Sign enabled. Prepayment invoices can't have a zero or negative transaction or line amount.
   • Natural application only option enabled. You can't use overapplications on prepayment invoices.
7. In the Transaction Status field, select Open.
8. In the From Date field, enter the date from which this transaction type is active.
9. Ensure that the Open Receivable and Post to GL options are enabled.
10. Complete the remaining fields according to your requirements.
11. Save your work.
12. Repeat these steps for each transaction type that you want to create for prepayment invoices.