Advanced Prepayments

• Allows Prepayments at a Customer Level
• Treats Prepayments as a pool of funds rather than having to individually assign prepayments to specific invoices and lines
• Books prepayments to AR and Deferred Revenue (Typically a Balance Sheet Liability Account)
• When paid will Debit Cash and Credit AR
• As prepayment retainer funds are utilized on future Sales Orders/Invoices it will Debit Deferred Revenue and Credit Revenue, leaving the receivable amount on the invoice as $0
• Have the ability to also skip using prepayment funds on orders/invoices if you want on a transaction by transaction basis
• Have the ability to use funds to pay the order/invoice partially.

Sales Order Prepayments - Enhanced Flexibility

• Allows prepayments at an order level or job level
  
• Does not lock down lines after the prepayment is invoiced or received
• Added flexibility allows users to work with prepayment invoices in a more efficient manner

Reporting

• Ability to generate prepayment balance lines on documents - shows them how much they have remaining when they receive the document
• Ability to view AR Dashboard for Customer Prepayments
• Ability to view AP Dashboard for Vendor Prepayments

Sales Order/Invoice Prepayments

Accounts Receivable Dashboard

Excel Prepayment Summary Export