Handling Deposits

How does your company handle deposits to a suppler?  Do you enter the deposit on the PO and Accounts Payable matches the voucher or are they handled through Accounts Payable?

Hi Dan,

Thank you for your response.  When we need to pay a deposit for custom made goods or services that we are procuring what is best way to handle?  Is it on the PO somehow or on Accounts Payable side?  It would be us paying the supplier.

Tammy

Hi Tammy - I've reached out to our A/P department and they would be more thatn happy to help (if you still need it). They did have a question, just nfor clarification:

Are you talking about monies coming into the company? Or ACH/EFT going to the supplier from our account?

Dan

Thank you Nadeem for your quick response.

This can be handled via Prepayment funcitonality in Accounts Payable….This allows the payments to be made to a supplier without an invoice...

Process Flow would be:

• Enter a Prepaid Voucher for the Deposit

• Pay the Prepaid Voucher

• Once the Invoice is received, enter a Regular Voucher and associate the prepaid Voucher with it

• Pay the Regular Voucher. System adjusts the deposit made on the prepaid voucher and remits the balance to the supplier

Hope this helps.

Regards

Nadeem Aslam

Astute Business Solutions