[Kyle Malone, CPA]

Anyone have any experience with setting up customer prepayments in system and then invoicing against it? It would be 1 customer prepayment on an order/contract and then multiple invoices against it.

Initial thoughts might be…
SOP–>Invoice – We got pretty far with this but kept hitting snags. If anyone has a success story, I’d love to hear it.

Project Accounting

Field Services Contract (just throwing things out here)

3rd party

Stop trying to be fancy and just book a cash receipt and manually apply

Preferably… It’d function just like the POP Prepayments process that was added in GP 2013 R2 or so. Attach it to a contract/order and then each subsequent invoice would auto apply to the other/s prepayment.

Thanks all,
Kyle

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Kyle Malone, CPA
GP Admin – CGB Enterprises, Inc.
Lead Consultant/Blogger – http://ALaCarteGP.com
Chapter Leader – Louisiana (New Orleans)
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[Thaddeus Suter]

To support multiple Invoices against one prepayment, both SOP and SVC CA would require a Cash Receipt posted to Prepaids and then Applied to each Invoice after posting. You would probably use Customer Statements to show the Prepayment, what Invoices it is applied to and how much is left.

In PA, prepayments (called Retainer Fees) is fully supported and shows as On Account on the Project. Each Billing may or may not have the Retainer applied before Posting, until the On Account Retainer goes to $0.00.

One thing to know, the PA Project Customer must actually Pay the Retainer Bill. You cannot apply the Retainer Bill to subsequent PA Invoices. You can only apply the Retainer Payment to subsequent PA Invoices . So if they don’t actually pay the Retainer, don’t do it.

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Thaddeus Suter
Retus, Inc
HELOTES TX
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[Tanya Henderson]

The other issue you would have with the retainer would be that you would have to do all of your billing from the Project Accounting module.  This could work and is very useful, but it may take more work.
Tanya

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Tanya Henderson
Senior Consultant
S2 Technology
Park City UT
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[Kyle Malone, CPA]

Thanks @ Thaddeus Suter & !

We’ll give the PA approach a shot.  My preference was to keep the billing all in one place (currently done in SOP) as we have the same clerk/groups handling both non-prepayment and prepayment activity BUT we’ll take a further look and see if we can make it work.

Thanks again,
Kyle????

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Kyle Malone, CPA
GP Admin – CGB Enterprises, Inc.
Lead Consultant/Blogger – http://ALaCarteGP.com
Chapter Leader – Louisiana (New Orleans)
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