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Here are the steps on 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
    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.
  10. Enter other details if necessary.

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

  11. 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.
  12. The Shipping field can be used to enter shipping costs for the transaction.
  13. The Tax field will display the calculated tax of all the details added on the grid.
  14. 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 Accounts Payable account in the General Ledger when you post this transaction. You will also see this amount in the Payables form for this vendor.
  15. Click Save button. Voucher No field will now be filled in with a unique, system-generated ID automatically.

 

 

You can skip saving the record if the transaction is to be posted right away. This will be catered in the Posting process since it automatically saves the record before posting. (See How To Post Voucher)

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