Processing Prepayments

If you have supplier invoices coming in with charges that relate to periods in advance a typical example would be rent, insurance items etc that you have to pay up front then the Prepayment module is designed to save you time when processing these and let the system distribute the charges over the specified periods effortlessly.

By activating the Prepayments module from Settings > Subscription > Add-on Modules :-


When you next process your supplier invoices you will be able to enter a start and end date for the relevant charges :-
add-on 2

At the end of each month you can ‘Run Prepayments’ from within each period in ‘Accounting Year’ this will automatically post the entries for the month:-

add-on 3

Find out more about Prepayments

The same module can be used for sales invoices, if you charge your customers in advance for services you may wish to use this to capture Deferred Income