Applying Prepayments to Invoices

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Distribution

Director of Procurement Services

AP Administrator

AP Payment Processor^*

Related Procedures

P-Card Administration - Processing Credit Card Transactions [PRO5522U]

Ownership

The Director of Procurement Services is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

Apply Prepayment

IS Payables
N ® Invoices: Entry ® Invoices
Invoices

1. Find the approved invoice to be applied to the previously prepaid invoice

Select View ® Find or View ® Query by Example from the menu to search for the invoice.

2. Click on the Actions... 1 button.

3. Check the Apply/Unapply prepayment checkbox.

The apply/unapply screen shows the prepayments that are available for application to the vendor.

4. Select the specific prepayment for application by checking the checkbox to the left of the line and also check the Approve checkbox.

5. Enter the amount of the invoice that will be applied to the prepayment in the Amount to Apply field.

The GL Date will default to the current date.

6. Click the Apply/Unapply button to apply the invoice.

The prepayment is listed as an existing prepayment application.

The invoice applied to the prepayment is shown as paid.

The invoice overview shows that the invoice was paid by the prepaid invoice.

Effective: 05/03/04