Handling client pre-payments

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Pre-payments are a liability to your business until you deliver the goods or services and should be accounted for as such. If you do not have a General Ledger account for pre-payments, you should create one. Depending on how the pre-payment is being made, the process for recording the transaction will vary.

 

Pre-payment made by cash or check

Pre-payments made by check can be deposited as a part of the normal Batch Pay or COD Batch Pay process.

  1. Begin the Batch Pay or COD Batch Pay process as normal.
  2. Enter the check number the client used to make the pre-payment or enter CASH for a cash payment.
  3. Press Enter.
  4. Enter the amount.
  5. Press Enter.
  6. Type OPEN for the invoice or order number.
  7. Type the amount of the pre-payment in the Apply field.
  8. Process the Batch Pay or COD Batch Pay as normal.
 

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Pre-payment made by credit card

  1. Open the client's account.
  2. Click Menu > A/R Inquiry
  3. Right-click in the detail area and select Credit Card Receipt.
  4. Enter or select the credit card to be used to make the pre-payment.
  5. Click Next.
  6. Check the "Apply charges as an open payment on this customer's account" option.
  7. Enter the amount of the payment.
  8. Enter the General Ledger account used to record pre-payments in the Credit GL Account field.
  9. Click "Payment is for a contract renewal" if the payment is to renew and existing contract and enter the job ID.
  10. Click Next.
  11. Click "Click here to process this Charge" to process the pre-payment.
  12. Click Finish.

 

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Pre-payment made by eCheck

  1. Open the client's account.
  2. Click Menu > A/R Inquiry
  3. Right-click in the detail area and select eCheck Receipt.
  4. Enter or select the account to be used to make the pre-payment.
  5. Click Next.
  6. Check the "Apply charges as an open payment on this customer's account" option.
  7. Enter the amount of the payment.
  8. Enter the General Ledger account used to record pre-payments in the Credit GL Account field.
  9. Click "Payment is for a contract renewal" if the payment is to renew and existing contract and enter the job ID.
  10. Click Next.
  11. Click "Click here to process this Charge" to process the pre-payment.
  12. Click Finish.

 

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