How To Issue Downpayment Invoice And Collect Upfront Payment

In Cetec, prepayments can be processed in multiple ways, and one of which is invoicing your customer on the prepayment amount. Instead of applying credit to the customer’s account for an order, you would like to receive your prepayment and invoice the customer on your prepayment amount. Let’s look at an example of issuing a down payment invoice and accepting the prepayment.

The goal is to send an upfront, downpayment invoice to your customer. Below are the steps to take in order to properly process this transaction.

  1. Begin with a customer quote. A key component to this process is to make sure the customer has a net terms that requires your desired down payment amount - 10% . You do this by adding them on the ‘9Terms’ Data Maintenance table (Admin>>Maintenance>>Data Maintenance). Inside the 9TERMS table, you’ll also find a column labeled “Prepay Percent”. You can put in an amount here which will automatically calculate and populate the prepay required amount against the total resale on the order.
  2. Enter the customer’s order on the quote, and edit the header information to display the proper prepayment net terms. You may also want to add a notifier under shipping instructions to clarify to your customer that you are requiring 10% down payment of the order.
  3. After committing this quote to an order, navigate to the ‘Pro Forma PDF’ tab on the left-hand side. This PDF is a Pro Forma Invoice to send to the customer requesting the down payment amount of the aforementioned 10%.
  4. Once you receive the down payment from the customer, navigate to the order and click the ‘Prepayment’ tab. Input the prepayment amount received. This will create unapplied cash on the customer account to sit in a liability account until applied to the final invoice.

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