Prepayments/GIT - Goods in Transit

Hi Everyone,

i have a question on Prepayment/GIT(Goods in transit) , do i create a bank account name: Prepayment/GIT,

when I a do a prepayment (partial or fully prepaid).

Do I enter a Transfer from my cheque-bank account to Prepayment/GIT bank account. To show money leaving cheque-bank account.

Once I receive the actual invoice with the stock, i will write a cheque from the Prepayment/GIT bank account?

is this the right way to go about this?

Thanks DC