Prepayments

[barry]

We received a prepayment for a sales order. Part was paid by credit card and part was paid by check. What is the best way to enter these payments?

[Deborah Bean]

Enter both prepayments in the Receipts function. If you click the Prepayment checkbox, the Apply to Revenues tab will change slightly. Type the Description and Amount. In the GL Account column, enter a GL account for Sales or A/R or a Deferred Income account.

When a check is received from the customer, the prepayments will appear as credits and can be applied to the invoice.

You will need to enter the credit card and checks as separate transactions.