prepayment question

[mikebode]

I have two prepayment questions. I'd appreciate if you could help me:

1) How do I deal with the whole prepayment option? I just got an order together with a check. I can certainly enter the sales order, but I will not be able to ship for a week. Where and how do I record the check now? Since nothing has been shipped, I cannot go to the "receipts" form and record a prepayment. Am I doing something wrong?

2) Prepayment without order. We deal with customers in South america, and sometimes they do strange things. We receive a payment for something that hasn't even been ordered. How do i apply the prepayment for something like this?

Thanks.

mike

[mikebode]

OK,

I just did some further research on my point 1, and I think I found an answer. Go to "receipts" and enter a "prepayment" under "apply to revenue". What I don't understand is how I actually fill the form. Let's say the PO from the customer involves many items. Do I actually fill out the form with all the different items, so that it is identical to the sales order, or do I simply enter a line that says "Prepayment on SO xxxx" in the description? If so, what account do I post that to?

mike

[mikebode]

OK,

I think I figured it out, mostly. I know how to record a prepayment, but one question remains:

We normally print invoices directly out of PT from the Sales/Invoicing form. In this case, the PO has been prepaid, so the Invoice should show the items purchased, the purchase price, the prepayment applied, and the remaining amount to be paid. How do I do that?

mike

[Lisa_p]

When you check the prepayment option, it creates a credit on the customer account. To show it on the invoice with the balance due, you need to create the invoice for the whole order, go to receipts and apply the credit, then print the invoice with a template that shows applied credits and balance due.

Hope this helps.

[pickupman]

This is PT biggest downfall, applying prepayment/deposits to a sales order. I found the solution here.
http://www.peachtreeusers.com/.forums/showthread.php?threadid=157&highlight=sales+order+deposit


To clarify this post, this might help.

When you receive the payment, goto Sales/Invoicing
Type in CustomerID
Enter QTY: 1 ITEMID: DEPOSIT AMOUNT: ($check amount).

Click on Amount Paid at Sale, and enter receipt info. Print Invoice, and give to customer if they want a copy. Now you have a receipt in Select for Deposit screen.

Next, type the order that it is for, and enter as the last item:

QTY: 1 ITEMID: DEPOSIT AMOUNT: -Check Amount

Print sales order.

Now when you ship/invoice the order, you can click Ship All and all items will be invoiced and the deposit amount will be deducted. So the balance due is show, and when the balance is paid you can apply it to the invoice. It is important to have the deposit on the sales order as a negative number. That way it shows in peachtree remaining to invoice.