Prepayment from last year does not show in the purchase invoice this year

SOLVED

Hello,

I use Sage 50 Pro and I had a prepayment for inventory last year in the amount of $8000. This year in Jan I paid the difference ($11000) and received the inventory. I expected when I go to Purchase Invoices and post the full amount ($19000) in inventory, the prepayment to show up. It does not!!!

I closed last year, in the balance sheet I can see that there is the account 1300 prepayments with a balance that I should be able to use against the Purchase invoice. Am I doing something wrong?

Thank you for your help!

  • 0

    If you entered the prepayment of 8000.00 thru payment module then it will show up when you go into payment module to pay the purchase invoice. You will see the purchase invoice for 19000.00 and then further down you will see in red typing you will see your 8000.00 prepayment amount. Just click on the 19K purchase invoice and the 8K prepayment amount and it will net out to the 11K payment.

  • 0 in reply to Smith and Co

    Something is not right I believe... in the Pay Purchase Invoices module I see Prepayments - Original Amount $8000 / Amount Owing $8000  and Payment Amount $8000 (all in red) ... is this ok?...

  • 0 in reply to lct

    Yes - that is correct. If you were to click on the outstanding invoice of 19K then click on the red amount of 8K then the net amount will come out the 11K to pay. When you click on these outstanding amounts then you will need to tab over to the last column to have those amounts accepted for payment.

  • 0 in reply to Smith and Co

    Unfortunately is not doing that when I click on $8000... will only let me change the Payment amount ... seems that I cannot post a screen shot here... can I send you in an email for you to see what I have? Thx!

  • 0 in reply to lct

    Hi lct,

    You can follow the link below for instruction to post a screen shot here.

    How to post a screen shot to a forum post.

    Hope this helps.

  • 0 in reply to Keith L

    Sorry Keith - that didn't seem to work - I tried copying screen shots into a word document and saved to desktop. But when following the instructions to inserting the desktop file the pic just shows a folder image - nothing else.

  • 0 in reply to Smith and Co

    Hi,

    Rather than using Word, try using Paintbrush - choose Start, Run, and type Pbrush, or type Pbrush into the address bar.

    It will allow you to save in a graphic file format such as .PNG.  This forum will accept .GIF, .JPG, and .PNG format files.

    Keith helped me get screenshot posted a few weeks ago, I had to change the browser setting to turn 'compatibility mode' on for this site to make the other toolbar buttons appear.

    Not that it helps, but the reason that you saw a folder icon for a Word document is that Word documents are ZIP files.  The more recent versions of Office save some files as a collection of files inside a compressed archive to save space, and make version compatibility easier.  If you rename or copy a .DOCX file to have a .ZIP you can see XML manifest, and the other files and folders inside. 

  • 0

    I use Sage 50 Pro and I had a prepayment for inventory last year in the amount of $8000. This year in Jan I paid the difference ($11000) and received the inventory. I expected when I go to Purchase Invoices and post the full amount ($19000) in inventory, the prepayment to show up. It does not!!!


    What is wrong here?

  • 0 in reply to RandyW

    Thank you for help! I posted a new post with the screen shots this time - same post title as this. Please reply there! Thank you!

  • 0 in reply to lct

    Hi Lct,

    This is correct as the prepayment was entered in the Payments Journal.  This is why you can see the prepayment shows up in red when you select that vendor in the Payments Journal.

    In the purchase invoice, change the payment method to pay later and post it.

    Then, go to the Payments Journal, select the vender and you will see the $19000 invoice and the $8000 prepayment.  

    Do what Smithco suggested by clicking on the outstanding invoice of 19K.  Then, click on the red amount of 8000.  The net amount will come out the 11000 to pay.

    This entry will debit account payable by $19000, credit $11000 from your bank account and $8000 from the purchase prepayments account.  

    Hope this helps.  

  • 0 in reply to Keith L

    Thanks a lot, Keith! This has solved the problem! It was holding me for more than a week. Thanks again!

  • 0 in reply to lct
    verified answer

    Hi Lct,

    Glad to hear your problem is resolved with the help from other peers in this forum.  

    If any suggestions provided in this thread is able to help you resolving your issue, would you please click the 'Yes' button to the question - 'Did this answer the question?'  The thread will be marked as answered, which will benefit other users who have the same issue.  Thanks a lot.

  • 0 in reply to Keith L

    Thanks to everybody in the forum for the help! I will mark as solved!

  • 0 in reply to lct

    Glad you have resolved this - your invoice date should be the actual invoice date and date you are paying it. Your source of payment for both the prepayment of 8000.00 and the balance that you will be be paying should not be Cash unless it is physical cash that you paid with. It should be marked how it was paid - cheque? then chq nbr, EFT? then EFT confirmation nbr, Wire Transfer? then Wire nbr, etc. That way anyone else looking up your transaction will know exactly how it was paid. I have just finished cleaning up a client's set of book that had everything paid by cash from bank and was very difficult to trace back the many errors made by previous person.

  • 0 in reply to Smith and Co

    ooops correction of "your invoice date should be the actual invoice date and NOT date you are paying it

  • 0 in reply to Smith and Co

    Thaks Randy - re: why the screen schot didn't work. I will try your method next time.