How to Create Vendor Prepayments

1. From the Main Menu, expand Purchasing and then click Vouchers to open Search Vouchers.
2. Click New toolbar button to open blank Voucher screen.
   
3. The following fields were automatically populated:
   1. Transaction Type - will default to Voucher
   2. Invoice Date - will default to today's date
   3. Post Date - will default to today's date
   4. Due Date - will default to today's date
   5. Ship To - will show the default Location set for the user that is currently logged in. Address is displayed on the Ship To Addressfield below the grid.
   6. Ordered By - will default to the user that is currently logged in
   7. AP Account - will default to the AP Account set for the default Company Location.
   8. Currency - will default to the currency set in Company Preference > Settings screen

   9. Withheld Amount - will default to 0.00

4. Select Vendor Prepayment type.
   
5. AP Account for vouchers will be removed and will be replaced by the Vendor Prepayment Account set in your Company Location. In case that no default prepaid account set, then field will be blank.
6. Contract column on the grid will be enabled and the following columns will be displayed:

   1. Prepay Type

      Prepayment Types

      • Standard Type - Amount entered on Cost field is the Prepaid amount.
      • Unit Type - Amount entered on Cost is multiplied by the Quantity entered to get the Total amount.
      • Percentage Type - Amount entered on Cost field will also be displayed as the Total amount. Percentage entered will be used to compute the Amount Applied when offset to a voucher.
   2. Quantity
   3. Deposit Percent
   4. Restricted
   while the following columns will be hidden:
   1. Misc Description
   2. Ordered
   3. Billed
   4. Discount
   5. Account Id
   6. Account Description
   7. Volume
   8. Storage Location
   9. Expected Date
   10. Source No
   11. 1099 Form
   12. 1099 Category
7. Click Vendor combo box button and select Vendor from the combo box list. Name of the selected vendor will be displayed.
8. After selecting Vendor: Terms, Contact, and Ship From, and Ship From Address fields will be automatically populated by the details entered in Vendor screen.
9. Due Date field will update based on the terms assigned for the selected vendor and on the Invoice Date selected but still can be changed manually if necessary.

10. Enter other details on header fields.

    For combo box fields, selecting different value is allowed if necessary.

11. Add details on field. It can be a stand - alone prepayment or a prepayment for an existing contract.
    
    
12. At the bottom of the screen is the Subtotal field that displays the total before sales tax of all the line items entered in the grid.
13. The Shipping field can be used to enter shipping costs for the transaction.
14. The Tax field will display the calculated tax of all the details added on the grid.
15. The Total field will display the added amount of the Subtotal, Freight and Tax fields. This is the amount that will be entered to the Prepaid Accounts in the General Ledger when you post this transaction. 
16. Click Save button. Voucher No field will now be filled in with a unique, system-generated ID automatically.

Directly from Contracts screen

1. From Contracts Management menu, click Contracts to create new contract transaction.
2. After entering contract sequence, navigate to Additional Info tab and click Prepaid hyperlink.
3. Voucher screen will open automatically with Vendor Prepayment type.
4. Details of the contract will also be copied to the vendor prepayment.
   
5. Supply other details like AP Account, Ship To and Location.
6. If you wish to create a prepayment for a specific sequence from your contract, then click on Item No combo box button and select the sequence from the dropdown list.
   
7. Once a sequence is selected, other columns will updated.
   
8. At the bottom of the screen is the Subtotal field that displays the total before sales tax of all the line items entered in the grid.
9. The Shipping field can be used to enter shipping costs for the transaction.
10. The Tax field will display the calculated tax of all the details added on the grid.
11. The Total field will display the added amount of the Subtotal, Freight and Tax fields. This is the amount that will be entered to the Prepaid Accounts in the General Ledger when you post this transaction. 
12. Click Save button. Voucher No field will now be filled in with a unique, system-generated ID automatically.