We want to start using “prepayments” of Vendor Purchase Orders. However, our Vendors often over-ship or under-ship the amount ordered on the Purchase Order. If we use the Prepayment feature, and pre-pay the Purchase Order, how do we adjust and account for the over-payment or under-payment when the shipment arrives with more or less product than was on the pre-paid Purchase Order?
Answer
Prepay Purchases Orders and Under / Over shipments by Vendors
Best answer by vkumar
Hi
If vendor over-ship against Purchase order, there is no impact on prepayment. Vendor has to receive an additional payment for the balance amount ( Bill amount will be higher than the prepayment amount, so there will be a balance on AP bill once prepayment is applied to the AP Bill ).
If vendor under-ship against the Purchase order, then there will be a balance remaining against the Prepayment.
Customer can repay the prepaid amount by creating a ‘Vendor refund’ and applying the vendor refund to the Prepayment.
Refer to the screenshots below:
- PO and Prepayment for $22000
- PO receipt and AP bill made only for $21956
- One can create a vendor refund for $44
Hope this helps.
Regards,
+17HI
Are you paying the vendor in advance? If you do a prepayment in Acumatica and then release it to cut the check, it will close the prepayment and you will not be able to adjust it.
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Hi
If vendor over-ship against Purchase order, there is no impact on prepayment. Vendor has to receive an additional payment for the balance amount ( Bill amount will be higher than the prepayment amount, so there will be a balance on AP bill once prepayment is applied to the AP Bill ).
If vendor under-ship against the Purchase order, then there will be a balance remaining against the Prepayment.
Customer can repay the prepaid amount by creating a ‘Vendor refund’ and applying the vendor refund to the Prepayment.
Refer to the screenshots below:
- PO and Prepayment for $22000
- PO receipt and AP bill made only for $21956
- One can create a vendor refund for $44
Hope this helps.
Regards,
VijayKumarU
Thank you for you answer. I found it very helpful.
We have a related issue. We want to prepay a PO. However, often the vendor will ship the PO in multiple shipments that arrive on different dates. Can we apply the prepayment against multiple shipments of the PO? How?
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