Support of COD Transactions

The type of purchasing transaction for which a buyer pays at the time of delivery is generally referred to as cash on delivery (COD) or, because other methods of payment besides cash might be involved, collect on delivery (COD). MYOB Acumatica provides you with functionality that you can use to account for payments made on delivery.

This topic describes the basic workflow when you process a purchase order to be paid on delivery.

Basic Process

To process a purchase order that will be paid on delivery, you perform the following general steps:

  1. Create a purchase order.

    On the Purchase Orders (PO301000) form, create a purchase order. Select the vendor, and provide all the required details about the goods and services to be purchased. Save the order.

    Note: Depending on your company's policies, additional steps might follow the creation of the purchase order—for instance, for approval of the order.
  2. Create a prepayment request linked to the purchase order.

    While you are viewing the purchase order, on the More menu, select Create Prepayment Request. The system opens the Bills and Adjustments (AP301000) form, with information filled in for a new prepayment request from the purchase order; the reference number of the purchase order is shown in the Vendor Ref. box. Save the prepayment request. For more details, see To Enter a Prepayment in the Simplified Way. Release the prepayment request.

    Note: An unreleased prepayment request is synchronized with a purchase order as follows: If you edit the details of the purchase order, the prepayment request is changed accordingly.

    Open the purchase order on the Purchase Orders (AP301000) form, and make sure that the reference number of the prepayment request is shown in the Prepayment Ref. Nbr. box.

  3. Prepare an AP payment.

    On the Bills and Adjustments (AP301000) form, open the prepayment request, and click Pay on the More menu. This action opens the Checks and Payments (AP302000) form with information filled in for a new AP payment, which is ready to be saved. Save and release the payment.

  4. Create a receipt for the purchase order.

    Once the goods are received and payment is made, you can create a receipt in either of the following ways:

    • On the Purchase Orders form, open the original purchase order. On the More menu, select Enter PO Receipt. This opens the Purchase Receipts form with a ready-to-save receipt.
    • On the Purchase Receipts form, specify the vendor, and on the table toolbar of the Details tab, click Add PO. Select the original purchase order to add to the receipt.

    Save the receipt.

  5. Release the receipt.

    On release of the receipt, the system generates an AP bill, applies prepayment to the purchase order, and changes the status of the purchase order to Closed.