Prepayments on Sales Orders

[ismith]

Has anyone worked with Prepayments on Sales Orders?

I'm trying to figure out what the difference is for Prepayment Processing for Checks as opposed to Credit Cards. All the documentation I've seen has to do with Credit Card prepayments, which leaves me hanging as to how to handle prepayments by check.

For example, a customer pays half the order amount up front, before the order is really even accepted. I'm assuming that a Cash Receipt would then be done. Later, the order is shipped and invoiced. I can see where the prepayment amount is deducted from the total amount on the invoice, but what about journal entries?


Thanks,

Ian
isp/Web e-mail: [email protected]



Current Client Configuration:
OneWorld B73.3.1
Windows 2000, SQL 7
accessed via Remote Desktop (Terminal Server)

 

[Mike Dupaix]

Ian,

Basic prepayment processing uses a payment status to
indicate awaiting authorizationa and acceptance. JDE
then uses the draft process to match and clear the
actual receipt.

When processing drafts, the original invoice is
matched and the amount typically moved to a different
GL. Then when you receive the draft (sometime in the
future), you match the draft with the cash actually
received from the bank.

In your case, the partial payment would be entered
directly in AR and then matched to the order. You
could attach notes to both the cash receipt and order
document to facilitate matching the invoice and cash.

--- ismith <[email protected]> wrote:
http://www.jdelist.com/cgi-bin/wwwthreads/showflat.pl?Cat=0&Board=OW&Number=28466


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