To Track Prepayments to Vendors

You use the prepayment account to record prepayments to vendors.

Note:

You set up a default prepayment account (and subaccount) on the GL Accounts tab of the Vendor Classes (AP201000) form. You specify the prepayment account (and subaccount) for each vendor class that might be used when a user creates a new vendor.

You can change the prepayment account (and subaccount) for a particular vendor on the Vendors (AP303000) form.

The system debits the prepayment account by default when a user enters a new prepayment to a vendor.

To View Prepayment Balances

  1. Open the Vendor Summary (AP401000) form.
  2. In the Branch box of the Selection area, select the branch for which you want to view prepayments.
  3. In the Period box, select the financial period, or leave the box blank to view all open prepayments.
  4. In the AP Account box, select the prepayment account.

In the table, the list of vendors (those that meet the selected criteria) appears. In the Prepayments Balance column, you can view the prepayment balance of each vendor. The Total Prepayments box in the Selection area displays the total amount of prepayments for all listed vendors.

To View Prepayments by Vendor

  1. Open the Vendor Details (AP402000) form.
  2. In the Branch box of the Selection area, select the branch for which you want to view prepayments.
  3. In the Vendor box, select the vendor.
  4. In the AP Account box, select the prepayment account.

In the table, you can view the list of prepayments that match the selected criteria. The Prepayment Balance box of the Selection area displays the total amount of prepayments to the vendor, based on the selected criteria.

To View All Prepayments

  1. Open the AP Balance by GL Account (AP632000) report.
  2. On the Report Parameters tab, specify the report parameters that fit your needs for information.
    Note:
    If you leave the Branch box blank, you'll get information on all branches.
  3. On the form toolbar, click Run Report.
  4. Find the prepayment account in the report to view all prepayments that fit the specified criteria.