FrontAccounting forum — How to do: sales prepaid

Re: How to do: sales prepaid

2017-11-24T11:38:00Z

If you used "Direct Invoice" menu item with Payment Terms "Cash Sale", then the payment is also made when the invoice is generated.

Re: How to do: sales prepaid

2017-11-24T10:44:11Z

This is what confused me, why is customer payment automatically done when the invoice is generated?
I thought the workflow is similar to delivery against sales order.
So, we have open invoiced, then there will be payment against invoice. Customer can pay multiple times for that invoice.

Re: How to do: sales prepaid

2017-11-24T06:09:12Z

All customer payments can be allocated to invoices when they are raised. Prepaid invoice is a special instance where the amounts paid and payable on the invoice match. If a client pays into his deposit account with the company, then an equivalent credit limit too can be provided and then contra-ed when settlement occurs.

Re: How to do: sales prepaid

2017-11-24T05:44:54Z

I see, I thought prepaid is like down payment or deposit. So, client already pay in advance for a certain amount when create order.

So, what I understand, it is like payment term right? An invoice can be paid by customer several times. These prepaid is the amount of the previous payment by the client. Is that right?

Re: How to do: sales prepaid

2017-11-23T06:25:04Z

The amounts prepaid should not have been allocated for any other invoice and it is possible that the final invoice(s) the prepayments are sought to be allocated to may not be an exact match. Pricing, tax rates and whether inclusive or not are part of the invoice generation process and does not affect the prepayment values. What calculations do you refer to? Same date values like how to distinguish between prepaid in the morning and then invoiced in the evening?

How to do: sales prepaid

2017-11-23T06:09:42Z

Hello,

I want to ask how to do sales prepaid. It seems in the invoice, there is some calculation regarding sales prepaid. What are those and when is the prepaid entered. Thank you.