Prepayments for Purchase Orders: Implementation Activity

In the following implementation activity, you will learn how to specify a default prepayment percentage for a particular vendor and stock item.

Attention: This activity is based on the U100 dataset. If you are using another dataset, or if any system settings have been changed in U100, these changes can affect the workflow of the activity and the results of the processing. To avoid any issues, restore the U100 dataset to its initial state.

Story

Suppose that SweetLife buys eco-friendly reusable bags with personalized logos from the Ginkgo Tree Printing Company vendor. The vendor notifies the SweetLife company that future orders will need to be partially paid in advance before the vendor starts to manufacture the goods for the order. The vendor requests that your company pay 15% of any order in advance, and for ecobags, the vendor instead requests a prepayment of 25%. Acting as implementation manager Kimberly Gibbs, you need to specify the vendor settings so that the prepayment amount will be automatically filled in for each newly created prepayment.

System Preparation

Before you start making changes to the settings of the vendor and stock item, you should launch the MYOB Acumatica website with the U100 dataset preloaded, and sign in as implementation manager Kimberly Gibbs by using the gibbs username and the 123 password.

Step 1: Editing the Vendor Settings

To update the vendor account with the prepayment percent, do the following:

  1. On the Vendors (AP303000) form, open the GINKGO vendor.
  2. On the Payment tab, specify 15 in the Prepayment Percent box.
  3. On the GL Accounts tab, make sure that 13200 - Deposit to Vendor is selected in the Prepayment Account box.
  4. On the form toolbar, click Save.

Step 2: Editing the Stock Item Settings

To specify the prepayment percent of the ECOBAG stock item when it is included in a purchase order for the GINKGO vendor, do the following:

  1. On the Stock Items (IN202500) form, open the ECOBAG item.
  2. On the Vendors tab, click Add Row.
  3. Specify the following settings in the added row:
    • Active: Selected
    • Vendor ID: GINKGO
    • Prepayment Percent: 25.
  4. On the form toolbar, click Save.

You have specified the default prepayment settings for the GINKGO vendor and item-specific prepayment settings for the ECOBAG stock item.