Pre Paying for Stock on Purchase Orders
We create a purchase order for an imported window & link it to the customer job.
We have to pay for the window before our supplier orders it, so I enter the bill against the Purchase Order & then the Bill Payment. But this closes my purchase order & states - RECEIVED IN FULL. But most of the time the window (or stock) may not be received for weeks.
Is there another process where I can leave the purchase order open until the window arrives?
Comments
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Don't enter the Bill/goods until you receive them.
Enter the prepayment as a Write Chq to the Supplier posting to Accounts Payable with the Supplier's name in the Customer:Job field (NO tax code!):
This will reflect the Supplier's account being in credit (as per your prepayment). Once you receive (& enter) the goods/bill, you can then "apply" this payment to it.
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