Vendor prepayment journal

This article describes how to create a prepayment for a vendor from a payment journal. You can also choose to do the prepayment from the purchase order, in this case go to this article: vendor prepayment.

The creation of  a prepayment from a payment journal is done in 3 steps:

  • Step 1: Create the payment journal for the prepayment,
  • Step 2: Post the vendor invoice,
  • Step 3: Link the prepayment to the invoice,

1/ Create a payment journal

Access: AP > Journals > Payment journal

  • Create a new journal.
  • Check in the tab “Setup” if amount includes sales tax (select the option you need)/

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  • Click on “Line” button
  • Select the vendor account
  • Enter the amount of the prepayment
  • Select the offset account (bank account)

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  • In the tab “Payment” select Prepayment journal voucher. The posting profile of the vendor is automatically updated.

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  • Enter other informations you need.
  • Send the payment (depends of the setup of the method).
  • Post the journal.
  • In my case, the prepayment is with sales taxes.

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2/ Vendor invoice

There is no specific transaction to do in the vendor invoice. Just post the invoice as the regular way (invoice from purchase order or invoice journal).

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3/ Link the prepayment to the invoice

The last step befor paying the vendor invoice, is to settle the prepayment with the invoice.

Access : AP > Common > Vendors > All vendor.

  • Select the vendor
  • Click on Settle open transaction

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  • Select the prepayment transaction and the invoice
  • Click on “Update”

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  • When you will pay the invoice, only the amount minus the prepayment will be available to the payment.
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3 thoughts on “Vendor prepayment journal

  1. Pingback: Vendor prepayment journal : accounting schema | My Financial Dynamics AX

  2. Hi,

    I face this error,

    Function DimensionValidation::newForValidationRequest has been incorrectly called.

    Could you help me what’s wrong with my setting?

    Regards,

    Reply
  3. Hi there thanks for your contribution for learning AX
    Can u please explain prepayment in relation to withholding tax

    Reply

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