How to create a prepayment for a Purchase Order in Sage X3

By | September 13, 2022
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A prepayment is a payment  that you make before you receive goods or services.

Sage X3 provides a new feature i.e creating Prepayment against a Purchase Order. In purchase, prepayment is used where user/supplier may require a deposit before commencing work on an order, or the order may have to be paid in advance.

In this blog, we will see the functionality of prepayment for Purchase Order. Kindly follow below steps, but before that there are few points which needs to be taken care before proceeding.

  1. Payment terms should be assign properly on Purchase order.
  2. Payment types.
  3. Payment Methods.

Step1: Creation of Purchase Order.

Navigate to: Purchase -> Orders -> Order

  1. Click on create button.
  2. Enter al mandatory data.
  3. Make sure you assign proper payment term.
  4. Enter product in the Lines grid.
  5. Create the Purchase Order.

Step2: Creation of prepayment for newly created purchase Order.

Navigate to: Purchase -> Orders -> Order ->Go to right panel -> Options -> Prepayment button.

  1. Enter payment type ‘Deposit’
  2. Enter Payment method ‘CHQ’
  3. Enter Current Amount
  4. Enter Due Date
  5. Tax

Step3: Now, issuing the check to prepay for the Purchase Order. Creation of Payment against the Purchase Order.

Navigate to: AP/AR Accounting -> Payments -> payment/Receipt Entry

1 . Select PCHQ transaction as on the prepayment screen i have select the payment method as CHQ.

2. Now enter site and supplier.

3. Go to left panel, click on open item button.

4. Select the Purchase order which you just created.

5. Post it.

Now after this, proceed with the normal reception of the goods and Receipt of Invoice.

In this way, we can create prepayment against a purchase Order in Sage X3.

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