Sales Orders & Invoices
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      3. Sales Orders & Invoices

      Use Sales Prepayments 

      Overview: 

      • Learn how to use prepayments with your sales orders 

      Why use Sales Prepayments? 

      Sales prepayments are used when a customer agrees to pay a portion of the total sales amount in advance, often before goods or services are delivered. This helps secure the order and manage cash flow effectively. 

      Note: You'll need to update the Sales Prepayment Account in General Posting Setup. 

      Note: You'll need to specify the posted prepayment invoices and posted prepayment credit memo Number Series in the Sales & Receivables Setup.  

      Tip: Personalise the Lines section of the sales order to show prepayment fields. You can also update the Prepayment section on the order. 

      How to Use Sales Prepayments? 

      1. Complete steps 1–9 in setting up a Sales Order. 
      2. Select the Prepayment % field in the Prepayment section. Apply a prepayment percentage to your line items.    
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      3. A message displays to confirm that you’ve modified the Prepayment % and to request if you want to update the lines. Select Yes to continue.    
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        Note: The Prepayment % in the Lines section will automatically update to match the percentage entered in the Prepayment section. 

        Note: The Prepmt. Line Amount Excl. VAT field will reflect the prepayment portion of the Line Amount Excl. VAT. 

        Note: You can manually edit the Prepmt. Line Amount Excl. VAT, and the Percentage % field will be recalculated automatically. 
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      4. Once the lines are updated, review the sales prepayment. 
      5. Select Actions. Then, select Posting. From the drop-down menu, select Prepayment. Then, select Post and Print Prepmt. Invoice.    
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      6. A message displays to confirm if you want to post the prepayments for the sales order.   
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      7. Select Yes to continue.  
      8. A sales prepayment invoice is generated. You can send this to the customer for payment. 
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      9. The sales order status is updated to Pending Prepayment. 
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      10. You now know how to use sales prepayment.

      Note: Once the customer pays the prepayment invoice, you can release the sales order. You may then ship the goods or deliver the service as normal. The remaining balance will be invoiced through the usual accounts receivable process. 

       

      What’s next? 

      Find out how to update a sales order.

       

      If you have any questions, please reach out to support@wiise.com