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Good afternoon,

 

My team is new to Acumatica and my question here being is, for credit card purchase transactions already pre paid for. How would I post goods receipts without accounting for the cost(s) already paid for.

 

would this be posted at cost or zero cost - i’m curious if received in any manner how would it effect it and what is the correct way to complete this action. 

Hello @cervantes09 ,

To make sure I understand: you have ordered goods from a Vendor, and pre-paid the order by credit card.

Later when you receive the goods, you want to enter a receipt for the items but not create a duplicate payment to the vendor?

If I understand the situation correctly, I think:

  1. Credit card liability account should be set up as a Cash account in banking module.
  2. Payment Method CC should be set up in Banking module and connected to cash account from step 1.
  3. Enter Purchase Order to record agreement to purchase goods from vendor.
  4. Prepay the PO (From PO, click (...) Create Prepayment Request. Release Prepayment Request
  5. Pay Prepayment Request using CC payment method.
  6. When goods arrive, Create PO Receipt from PO screen.  Select ON the option to Create AP Bill from PO Receipt.
  7. Release PO Receipt.
  8. The Bill created when the Receipt is released in step 7 will automatically connect itself to the Prepayment created in steps 4 and 5. View the Prepayment on the Applications tab of the Bill.  Release the Bill.

    If I did not grasp the situation correctly, please provide examples. Thank you.

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