To Track Customer Prepayments

To track customer prepayments, you use a special liability account, the prepayment account, to record prepayments from customers.

Note:

If you want to set a default prepayment account to be used for each new customer a user creates, on the Customer Classes (AR201000) form, specify the prepayment account and subaccount for each of the customer classes that might be used when a user creates a new customer.

You can change the prepayment account and subaccount for a particular customer on the Customers (AR303000) form. The system credits this account by default when a user enters a new prepayment from the customer.

To view information about prepayments, you use the following forms:

To View Prepayment Balances

  1. Open the Customer Summary (AR401000) form.
  2. On the Selection area, in the Company/Branch box, select the company or 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 AR Account box, select the prepayment account.

    In the table, you can view the list of customers with the prepayment balances calculated for the selected criteria. The Total Prepayments box of the Selection area shows the total amount of customer prepayments calculated based on the selected criteria.

To View Prepayments by Customer

  1. Open the Customer Details (AR402000) form.
  2. In the Company/Branch box of the Selection area, select the company or branch for which you want to view prepayments.
  3. In the Customer box, select the customer whose prepayments you want to view.
  4. In the AR 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 customer prepayments calculated based on the selected criteria.

To View All Prepayments

  1. Open the AR Balance by GL Account (AR632000) report.
  2. On the Report Parameters tab, specify the report parameters that fit your information needs.
    Note:
    If you leave the Company/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.

For more information, see Filters.