This article will just explain how / where you need to account for Vendor Prepayment / Deposit or paying the Vendor Upfront prior to receiving the parts into stock (VR) in Blackpurl
Scenario:
The Dealership wants to order parts from Vendor: Smith & Co but the Dealership does not have an account with them so Smith & Co are requiring the Dealership to pay up front.
How to:
Remembering that Blackpurl does not deal with the $$ side of your business - the processing of the Vendor Prepayment / Payment up front etc is done in your Accounting Package
In Blackpurl
- Dealership would process the VO as normal and once the Vendor Invoice comes in from the Vendor asking for payment
In your Accounting Package
- the user would then go into your Accounting Package and make the payment to the Vendor
- to process the Prepayment in your Accounting Package, you will need to basically process a credit on the Vendors record
- this is a link to the Xero Support on how to record a Prepayment - Record a Prepayment (Xero)
- this is a link to the QuickBooks Support on how to record a Prepayment - Record a Repayment (QuickBooks Online)
In Blackpurl
- When the goods are received by the Dealership, the user would finish the VO / VR / VI process and the Vendor Invoice will integrate over to your Accounting Package as unpaid
In your Accounting Package
- Once you see the relevant Vendor Invoice in your Accounting Package, you would then pay (or allocate) the Vendor Invoice with the Prepayment already sitting on the relevant Vendor Record
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