AP Pre/Advance Payment of a PO @ 50% down

Yahoo Archive
1
We used the unreceived line option in AP. You can apply the deposit amount to just the first line and when the parts are received, it will net the discount from that line. Using the unreceived line option allows for the amount to be booked to the Advanced payment account.

Since the supplier sent the total on one invoice, just have to the enter the deposit amount and once received, enter the balance but put a -1 after the invoice number.

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of that_guyy
Sent: Friday, February 15, 2013 9:12 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: AP Pre/Advance Payment of a PO @ 50% down



Jill,
Thanks, I presented this and it will not work for us due to the number of lines on the PO. We have a PO with 10 lines, so this would require us to enter 20 lines AND then receive 10 of those, that seems rougher than an Advance Billing Entry.

-Rick

--- In vantage@yahoogroups.com<mailto:vantage%40yahoogroups.com>, Jill Lopez wrote:
>
> We set the PO up with two lines, both for 50% of the payment. We ask the supplier to invoice us for the first line (or 50% of the purchase price) to get the down payment taken care of. We then have purchasing receive in the first PO line so we can pay the 50% down invoice. When it is time for the final payment, the supplier sends us an invoice for the other 50% and we receive in the second line to close out the PO. This has worked great for us.
>
>
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2
We need to post a payment against an entire PO @ 50% down.
It seems like an Advance Payment is the way to go, but it looks like we would have to key each PO Line & release on the payment and calculate 50% per line.
Is this the case or is there a better way?

Just to be clear, we have to pay the vendor 50% up front before the goods are shipped to us. The vendor has sent us an Invoice for the full amount with Terms of '50% Down Net 10.'

Since we only have one invoice for the full amount does this change anything?

-Rick Bird
IT Software Administrator
Rowmark, LLC.
9.05.700B2
3
I think there is an Unreceived line option under AP....I never had to use it but test it out and see if that would work for you, because technically you haven't received anything.

This is version 9.05...what version are you on?













From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of that_guyy
Sent: Friday, February 15, 2013 8:19 AM
To: vantage@yahoogroups.com
Subject: [Vantage] AP Pre/Advance Payment of a PO @ 50% down



We need to post a payment against an entire PO @ 50% down.
It seems like an Advance Payment is the way to go, but it looks like we would have to key each PO Line & release on the payment and calculate 50% per line.
Is this the case or is there a better way?

Just to be clear, we have to pay the vendor 50% up front before the goods are shipped to us. The vendor has sent us an Invoice for the full amount with Terms of '50% Down Net 10.'

Since we only have one invoice for the full amount does this change anything?

-Rick Bird
IT Software Administrator
Rowmark, LLC.
9.05.700B2



[Non-text portions of this message have been removed]
4
We set the PO up with two lines, both for 50% of the payment. We ask the supplier to invoice us for the first line (or 50% of the purchase price) to get the down payment taken care of. We then have purchasing receive in the first PO line so we can pay the 50% down invoice. When it is time for the final payment, the supplier sends us an invoice for the other 50% and we receive in the second line to close out the PO. This has worked great for us.


CONFIDENTIALITY NOTICE: Internet and e-mail communications are property of Bruno Independent Living Aids. BILA reserves the right to retrieve, read and store any message created, sent or received. BILA reserves the right to monitor messages by authorized BILA employees at any time without any further consent.


[Non-text portions of this message have been removed]
5
9.05.700B2

--- In vantage@yahoogroups.com, Manasa Reddy <mreddy@...> wrote:
>
> I think there is an Unreceived line option under AP....I never had to use it but test it out and see if that would work for you, because technically you haven't received anything.
>
> This is version 9.05...what version are you on?
>
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> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of that_guyy
> Sent: Friday, February 15, 2013 8:19 AM
> To: vantage@yahoogroups.com
> Subject: [Vantage] AP Pre/Advance Payment of a PO @ 50% down
>
>
>
> We need to post a payment against an entire PO @ 50% down.
> It seems like an Advance Payment is the way to go, but it looks like we would have to key each PO Line & release on the payment and calculate 50% per line.
> Is this the case or is there a better way?
>
> Just to be clear, we have to pay the vendor 50% up front before the goods are shipped to us. The vendor has sent us an Invoice for the full amount with Terms of '50% Down Net 10.'
>
> Since we only have one invoice for the full amount does this change anything?
>
> -Rick Bird
> IT Software Administrator
> Rowmark, LLC.
> 9.05.700B2
>
>
>
> [Non-text portions of this message have been removed]
>
6
Jill,
Thanks, I presented this and it will not work for us due to the number of lines on the PO. We have a PO with 10 lines, so this would require us to enter 20 lines AND then receive 10 of those, that seems rougher than an Advance Billing Entry.

-Rick

--- In vantage@yahoogroups.com, Jill Lopez <jill.lopez@...> wrote:
>
> We set the PO up with two lines, both for 50% of the payment. We ask the supplier to invoice us for the first line (or 50% of the purchase price) to get the down payment taken care of. We then have purchasing receive in the first PO line so we can pay the 50% down invoice. When it is time for the final payment, the supplier sends us an invoice for the other 50% and we receive in the second line to close out the PO. This has worked great for us.
>
>
> CONFIDENTIALITY NOTICE: Internet and e-mail communications are property of Bruno Independent Living Aids. BILA reserves the right to retrieve, read and store any message created, sent or received. BILA reserves the right to monitor messages by authorized BILA employees at any time without any further consent.
>
>
> [Non-text portions of this message have been removed]
>