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NSC | Recording Vendor Prepayment

edited Jan 31, 2023 9:58PM in Accounting / ERP

Vendor Prepayments can be used for Vendors who require a deposit that is being applied to a Purchase Order prior to a Vendor Bill instead of a Cheque Deposit.

It is also a possible alternate solution to the standard behavior in which we cannot apply a deposit to a Purchase Order and we cannot create a Vendor Payment without a Bill associated with it.

To work with vendor prepayments, you must enable the feature first and configure a default vendor prepayment account. This can be a new or existing account that is an Other Current Asset type.

To enable the 

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