Paying (in full or partially) by Check?

  • Create a Check
    • Navigate to ACCOUNTING » A/P » Check Register. Click on Create Check, then click the Create button.
    • Create a line break for your check. Make sure to identify the amount for your prepayment, then debit the Prepaid/Deposit account.
  • Create a Debit Memo
    • Navigate to ACCOUNTING » A/P » Debit Memos. Click Create Debit Memo, fill in the vendor name, then click the Create button.
    • Select the Prepaid/Deposit account in the Debit Memo header to credit the account.

*The video above only covers this prepayment scenario. For further scenarios and instructions, see below.

Paying (in full) by Credit Card?

Prepayment with credit card means you no longer have open Payable with vendor; you have an open payable with Credit Card company.

  • Create PO in Cetec ERP for normal vendor (e.g. Home Depot) for material purchased/received for record of your credit card transaction with vendor.
  • Create a voucher and link the voucher to the PO Line/Receipt for Home Depot. Click Add and update. This will register the products and quantities and costs from the PO onto the voucher.
  • Then, update the voucher header “vendor” field; switch it from the Home Depot vendor to your credit card provider (who should be set up in Cetec ERP as a vendor, e.g. American Express).
  • Then proceed processing payment for the Credit Card Provider’s vendor account per normal A/P Payment process. The voucher with the Credit Card vendor assigned to it should be available to be paid, along with any other vouchers for the Credit Card provider.

Optionally, you could also create a debit memo on the vendor account as well.If accounting receives an invoice from the vendor, either before or after the product is received, they may not know that purchasing prepaid with a credit card and may voucher that invoice. It so, having that debit memo sitting on the vendor’s account would make it available to offset against that voucher.

Note that issuing a debit memo to a vendor debits accounts payable and credits whichever account you indicate, whether it be a prepaid accountor an inventory or expense account. If you create the debit memo and you DON’T voucher the bill, then that debit memo is on the vendor’s account and they will still have to cancel the debit memo.

Paying (partially) by credit card? (e.g. 50% upfront)

  • Enter a completely separate unlinked voucher for prepayment value, input Credit Card company as vendor. Include comments on voucher as to which PO this is for (and which vendor, etc.). Pay down this value once you get the statement from your credit card provider.

  • Assuming the vendor only bill you for remaining balance, create a voucher and link the voucher to the PO Line/Receipt for Home Depot vendor. Click Add and update. Only approve payment for remaining balance. Proceed with normal A/P processing against vendor account.

Optionally, you could also create a debit memo on the vendor account as well.If accounting receives an invoice from the vendor, either before or after the product is received, they may not know that purchasing prepaid with a credit card and may voucher that invoice. It so, having that debit memo sitting on the vendor’s account would make it available to offset against that voucher.

Note that issuing a debit memo to a vendor debits accounts payable and credits whichever account you indicate, whether it be a prepaid accountor an inventory or expense account. If you create the debit memo and you DO NOT voucher the bill, then that debit memo is on the vendor’s account and they will still have to cancel the debit memo.

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