Awesome...thanks, Virginia!
M. Manasa Reddy
manasa@...<mailto:manasa@...>
630.806.2000 x1515
Ex scientia, vera
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Virginia Joseph
Sent: Wednesday, May 02, 2012 3:15 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Advance payment to a vendor
We are on vantage 8.03.408 but assuming Vista 8.0 is the same process you can pay the vendor for an advance billing invoice. Just add the AP invoice like normal, when you add the line choose Adv Bill Line. Reference the PO and line and then when you receive the parts and enter the Receipt Line on the regular invoice, it will apply the advance billing amount and show the balance owed as the net of the full invoice amount minus the advance billing.
When you enter the advance billing the system will DR the G/L specified in the AP G/L Account setup for the AP account selected for your AP group and will credit AP. When you receive the parts it will DR the full expense accordingly per the PO and CR AP Uninvoiced. When you enter the receipt invoice it will DR AP uninvoiced for the full amount, CR the advance billing account used previously for the advance billing amount and CR AP for the net amount owed.
Virginia Joseph
Deep Hole Specialists, LLC
440-708-5239
M. Manasa Reddy
manasa@...<mailto:manasa@...>
630.806.2000 x1515
Ex scientia, vera
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Virginia Joseph
Sent: Wednesday, May 02, 2012 3:15 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Advance payment to a vendor
We are on vantage 8.03.408 but assuming Vista 8.0 is the same process you can pay the vendor for an advance billing invoice. Just add the AP invoice like normal, when you add the line choose Adv Bill Line. Reference the PO and line and then when you receive the parts and enter the Receipt Line on the regular invoice, it will apply the advance billing amount and show the balance owed as the net of the full invoice amount minus the advance billing.
When you enter the advance billing the system will DR the G/L specified in the AP G/L Account setup for the AP account selected for your AP group and will credit AP. When you receive the parts it will DR the full expense accordingly per the PO and CR AP Uninvoiced. When you enter the receipt invoice it will DR AP uninvoiced for the full amount, CR the advance billing account used previously for the advance billing amount and CR AP for the net amount owed.
Virginia Joseph
Deep Hole Specialists, LLC
440-708-5239
--- In vantage@yahoogroups.com<mailto:vantage%40yahoogroups.com>, Manasa Reddy <manasa@...<mailto:manasa@...>> wrote:
>
> Is there a way we can pay a vendor for an invoice without receiving the parts in the system? If so, how and what happens when we do receive the parts?
>
> BTW, I'm on Vista 8.0.
>
> TIA,
>
>
>
> M. Manasa Reddy
> manasa@...<mailto:manasa@<mailto:manasa@...%3cmailto:manasa@>...>
> 630.806.2000 x1515
>
>
> [Non-text portions of this message have been removed]
>
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