Process Prepayment Customer Receipts
Overview
In GoldFinch, there are two ways of processing customer prepayments.
Steps
You can create and send a prepayment invoice to your customer, and then apply the customer receipt to the prepayment invoice. Read Customer Prepayments for more information on related accounting entries.
Alternatively, you can skip the prepayment invoice, and record the customer prepayment directly using the Customer Receipt feature.
We recommend the following best practices:
Navigate to Setup\Object Manager\Customer Receipt\Field Sets\EditReceiptGeneralSection, then add the following fields to the field set:
Sales Order
Bypass AR
Revenue GL Account
When entering the prepayment customer receipt, populate the following fields:
Bank Account
Payment Type = Customer Prepayment
Bypass AR = true
Sales Order
Revenue GL Account = Customer Prepayment GL Account
When you post the customer prepayment receipt, the following GL Entries will be created:
Debit Bank Account
Credit Customer Prepayment GL Account