Create Supplier Deposit and Prepayment

This menu is used for deposit payment to suppliers. Be able to allocate deposits with invoices that belong to the same supplier. See how to allocate prepayment click.

• Go to menu: Accounting → Supplier →   Payment → Click “New Payment” button

• Input prepayment details

• Contact : Customer name
• Payment Subtype:

• Deposit

• Prepayment

• Date : Paid date
• Number : Running sequence number automatically generated by system
• Ref : Reference document number (If available)
• Account : Receive method by selecting account code
• Currency : Automatically selected default currency
• Currency Rate : Current rate for foreign currency
• Tax Type : There are 3 types of tax

• Tax Exclusive
• Tax Inclusive
• No Tax

• Tax No. :  Running sequence number automatically generated by system (Incase Tax Invoice)
• Memo : Memo as text
• Related To : Be able to select manually such as sales order or invoice.
• Default memo to line description : This option is available for  Direct Payment and Prepayment. When added, the new line system will copy the description in the payment line.

• Payment lines

• Description : Description of product or service
• Qty : Product quantity
• UoM : Unit measure of product
• Unit Price : Unit price of product
• Account : Prepaid / Deposit account
• Tax Rate :Tax component
• Amount : Automatically computes sale amount by line

• Click the button Save and Post after completion.

Deposit

• Journal entry of deposit

Prepayment

• The status has changed to “Posted” and   click  Options  → View Journal Entry  

• Journal entry of prepayment