Acumatica ERP – Creating a Prepayment Request
Posted on: July 24, 2017 | By: Jim Bertler | Acumatica
Authored by: Brent Stabiner
To process a prepayment in the system, a prepayment request must be created and released, which denotes the vendor's request for prepayment in the system. A prepayment request is not a financial document; it is an internal document that can be approved (if required in your system) before the prepayment is paid to the vendor. The prepayment created through the request can be then applied to outstanding bills and credit adjustments.
In this step, a prepayment request of $200 will be created to make the prepayment to AdvertisingCo. Perform the following instructions:
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On the Bills and Adjustments form (AP301000; Finance – Accounts Payable – Work Area – Enter), create and save a prepayment request with the following information:
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Type: Prepayment (this type on this form denotes a prepayment request)
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Vendor: V000000003 (AdvertisingCo)
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Date: 3/6/2014
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Vendor Ref.: 03062014A
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Description: $200 prepayment
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Amount: 200.00
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Document Details tab, Inventory ID: ADVERT, Quantity: 10, Ext. Cost: 200.00
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Hold: Cleared
2. Click Release to release the prepayment request. On release of the prepayment request, the system doesn't generate any transactions or update the vendor balance; instead, it changes the status of the prepayment request to Open so that you can create the actual prepayment. (If approval is required in the Accounts Payable module, the prepayment request must be approved before the payment can be made.)
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