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Answered

pre-payments for Vendors

mark 3 years ago updated by Meghan Cooper 3 years ago 8

For larger projects, our vendors sometimes request a pre-payment up front. We would find it useful to use XTRF to manage the pre-payment in a similar way that it does for client pre-payments.

Answer

Answer
Under review

Sure Mark :)


You are always able to add a Vendor Payment, even before the job is started. 



Then, when an invoice is created the payment can be easily linked with it.

Answer
Under review

Sure Mark :)


You are always able to add a Vendor Payment, even before the job is started. 



Then, when an invoice is created the payment can be easily linked with it.

I actually did see this but wasn't sure how to use it. 


Is there documentation on how to add a vendor payment and turn it into an invoice? I am able to 'add a payment' but I don't know how to turn this into an invoice nor associate it with a specific project.

Answered

Sure. This advance payment can be utilised to cover the payments for your vendor invoices.


So, I had a prepayment of 150$, now 120$ left.

Then, I added an invoice for the Vendor. In the Payments section, assign button appears, because I still have funds to cover this one. 

By clicking it, given amount is poured into an invoice, and is taken from my pre-payment.

This is basically the way of making vendor pre-payments.

I will explore this. Thanks!

This looks good. I do have a question though....


Is there a way to have a visual clue in the vendor invoice view, to know which vendors have outstanding balances to apply?


Otherwise, we need to use a sticky note or something like that, to remember to click into each invoice to see the pre-payment to apply.


Thanks!

Yes, we can cover it by creating a custom Virtual Column on the provider invoice view :)

On the second thought you may just use the existing bookmarks Vendor Payables and Vendor Payments. In the first one there is a list of actual not-invoiced payables, and in the second one - payments made. Both readily visible :) 

Does adding a pre-payment in XTRF sync to QB Online as a vendor credit and vice versa if we have that integration?