Prepayment Question

ricky76

I have a client who would like to post an invoice that relates to future periods and i was wondering whether it was possible to do with standard functionality and prepayment. An example is they post an invoice for 12000 that relates from 1st June to 30th May to a prepayments account. Every month a percentage of this needs to go from the prepayment account into the period it relates to and the correct account. Combining prepayments and recurring journals is this possible out of the box or is development needed? Any assistance would be greatly appreciated.

Savatage

from the MS-Nav Blog

Quote:
For a first release of a new feature it of course comes with limitations – some due to initial requirements, some due to time and resource scarcity in a release. Some are already being considered for improvement in coming versions. Three of the limitations are:

The VAT setup relies on G/L account setup; this was due to the fact that this was intended more as a replacement for doing a manual extra invoice for any advance payments. Requests are that this be modified so it follows the items, e.g. prepayment VAT accounting is based on the specific content of the order.

Invoice discounts are not included in the prepayment calculations, due to complexity when tracking multiple prepayment invoices, e.g. when updating an order and sending new prepayment invoice. This limits the scenarios with 100% prepayments combined with invoice discounts.

Installments-like prepayments are not possible. There is no planning tool for issuing fixed interval prepayments, e.g. for larger order you could have fixed dates for multiple future advance payments. The Prepayment invoices must be created one by one.
Improvements on this limitation will happen as we gather feedback from market.

Alex_Chow

ricky76 wrote:

I have a client who would like to post an invoice that relates to future periods and i was wondering whether it was possible to do with standard functionality and prepayment. An example is they post an invoice for 12000 that relates from 1st June to 30th May to a prepayments account. Every month a percentage of this needs to go from the prepayment account into the period it relates to and the correct account. Combining prepayments and recurring journals is this possible out of the box or is development needed? Any assistance would be greatly appreciated.

I think the requirement you're talking about is in the Jobs granule where you recognize deferred revenue per period. Or did I totally missed the mark?