Apply or unapply a vendor prepayment

Apply a paid vendor prepayment to reduce the amount due on an eligible vendor bill. Unapply it when the amount must be made available again. Open Menu and select Payables > Vendor prepayments.

Before you begin

You need a vendor prepayment with Paid or Partially applied status and an eligible open vendor bill for the same vendor. See Create a vendor prepayment and Create a vendor bill.

Apply a vendor prepayment

1. Open Menu and select Payables > Vendor prepayments.

2. Open a prepayment with Paid or Partially applied status.

3. Select Apply.

4. Under Applied transactions, select Select transactions.

5. Select the eligible vendor bill and adjust the Applied amount when needed.

6. Select Apply in the dialog.

7. Select Submit.

The vendor bill’s amount due and the prepayment’s unapplied amount decrease by the applied amount. The application debits accounts payable and credits the prepayment account.

Unapply a vendor prepayment

1. Open the applied or partially applied vendor prepayment.

2. Select More actions > Unapply.

3. Confirm the action.

The unapplied amount becomes available again and the corresponding amount due is restored on the vendor bill.

Unapply removes all applications from the vendor prepayment. You cannot unapply a prepayment when the general ledger impact of an affected application belongs to a closed accounting period.