Hi Everyone,
We paid a vendor twice and the Vendor asked that we keep the credit in their account to apply to future invoices. The prepayment method doesn’t necessarily work for us as we don’t have any bills received just yet and future bills will not always be expensed to the same general account.
Does anyone have an idea on how to record the overpayment but not associate it with a particular expense account?
Thanks,
Hello,
Enter a Prepayment directly in Payables → Checks and Payments. Credit posts to Cash and Debit Posts to default AP Account from the Vendor profile record.
To apply the above prepayment to the next AP Bill from the same vendor, go to the Applications tab where you will see the Prepayment. Populate the Amount paid to the new bill.
Laura
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