Prepayments

  • Prepayments are used where a Purchase Invoice or Purchase Order has been created in advance for purchase amounts that are spread over future periods. e.g. paying for the next 12 months insurance in a lump sum in the first month.

  • Prepayments can be automated, for more information please see Prepayment automation.

  • To use this feature, the Invoice type and the Account must allow Prepayments.

    • To check Invoice type, go to Document types, go to Purchase tab and tick Allow deferred/prepayment option.

    • To check Accounts, go to Chart of Accounts, go to Usage tab and tick the Deferred/prepayment option.

      Tip

      To go to one of the above options directly from the Purchase invoice entry screen, hold down the Ctrl button, and then select either Invoice type or Account.

      This will task you directly to the appropriate document.

  • The finder will present all Prepayments that have been generated.

    • Doc #: This is the unique document code.
    • Contact: The Supplier that is being ordered from.
    • Gross: The gross cost of the request.
    Tip

    To modify the columns displayed, select in the top right of the page, then tick/untick the information you want to see or not.

  • You can view the lines associated with the prepayments by double clicking a prepayment in the finder.

Viewing Prepayments

Select Period End / Prepayments from the Main section of the pulse menu -

Note

This is an example screen shot of the pulse menu.

Position of the menu items within pulse will vary according to available options and dependant on personal screen resolution.

or from the Main Menu select Period End then Prepayments -

or enter Prepayments in the Quick Launch Side Menu.

This will then show the Prepayments on the system where normal customisation of Sets can be used. Also, depending on User roles, the My/All option will be showing.

Tip

To modify the columns displayed, select in the top right of the page, then tick/untick the information you want to see or not.

How to use Prepayments

  1. Following the User Guides for Create a Purchase Invoice in Purchase Invoice or Create a Purchase Order in Purchase Order.

    Note

    The invoice type selected must allow for Prepayment - see notes above.

  2. At step 8, add a line, selecting a Product that allows Prepayment - see notes above.

  • Select a Product that allows Prepayments - see notes above.

  • If it's not already selected, tick the Prepayment option on the Posting attributes line.

  • If not already populated, select the appropriate Distribution profile in the Profile option.

    Note

    The default value can be saved in Environment defaults.

  • The Date from will default, depending on what profile you enter e.g. if you enter English Quarter Day Q1, the Date from defaults to 25/12/YYYY.

  • The Periods and Date to fields are not always editable.

  1. Press Submit.

  2. The new Purchase invoice or Purchase order will now have a Prepayment tab.

Selecting this tab will display two options -

  • Summary -

  • Detail - when the Prepayment journals get created, the doc numbers appear in the Doc no column and these are linked to the PIN, as seen when selecting the link icon.


Updated February 2024