Do you need to collect a deposit or a prepayment upfront before releasing your shipment and track the prepayment in AR? Acumatica has credit terms that will work in conjunction with the sales order and link the prepayments with the sales order and invoice. If the appropriate prepayment is not collected for the order, the product will not be shipped.
In the example above the terms are prepayment of 50% and the box “Prepayment Required” is checked. As shown below, the sales order will have a status of Awaiting Payment until the prepayment is received.
Once the prepayment is received the status on the sales order will change to open and the product will be able to be shipped.
The shipment will be created and confirmed and then the invoice can be prepared. As shown below, the prepayment will be on hold and will need to be released before the payment can be applied to the invoice.
The invoice below is for $500 and you can see that the $250 prepayment was applied leaving a balance of $250.
Below is the GL impact of the transactions. You can see that the customer deposit account was initially credited for $250 and later debited for the same amount after it was applied to the invoice. The AR account shows the invoice for $500 and the prepayment of $250, leaving a balance of $250.
These transactions are linked, and you will be able to track your prepayments to the sales orders and the invoices. This will make the customer deposit reconciliation much easier moving forward.
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