Apply a Posted Prepayment or a Credit Note

Sage 300 ERP

Apply a Posted Prepayment or a Credit Note

Before you apply a document

  • You must select the Allow Adjustments In Payment Batch option in the Options form if you plan to adjust the invoice or debit note you are paying.

To apply a prepayment or credit note to an invoice or a debit note:

  1. Open Accounts Payable > A/P Transactions > Payment Entry.

    Click here for help with the fields on the Payment Entry form.

  2. Select an existing payment batch, or create a new payment batch.
  3. Use the Entry Number field to create a new transaction, and enter a description for the transaction, such as "Apply Prepayment to Inv 7764."

    Using the Entry Number field, you can:

    • Click the New button to start a new payment entry.
    • Click the Finder to select an existing payment for editing.
    • Click the navigation buttons to display the payment you need.
    • Type the number of the entry you want to edit.
  4. Choose Apply Document as the transaction type.
  5. Fill in the following header fields on the Payment Entry form:
  6. If you chose the Select Mode option:
    1. Select the document type (All, Invoice, Debit Note), list order (Document Number, PO Number, Due Date, Order Number, Document Date, Current Balance), and an optional starting number, balance, or date.
    2. Click Go () to display the vendor's open documents of the selected type.
    3. Double-click in the Apply column to select Yes for each document to which you want to apply the payment.

    If you did not choose Select Mode:

    1. Click the first blank line in the distribution grid, or press the Insert key to create a blank line.
    2. Use the Finder in the Document Number column to select the document to which you want to apply the prepayment or credit note, or type the number in the Document Number field.
  7. If you are issuing a payment that is not in your functional currency, click the Rates button to check or edit the exchange rate used for this payment.
  8. To partially pay a document, type the amount to apply in the Applied Amount column. You can post the transaction without fully applying the prepayment or credit note, leaving some to be applied at a later date. However, you cannot apply more than the total amount of the payment.
  9. If you need to adjust a document you are paying, click the Adjust button to open the Miscellaneous Adjustment Entry form, then:
    1. Enter a reference and description for the adjustment.
    2. Enter the distribution code or general ledger account number for each adjustment detail.
    3. Type the amount of each adjustment detail.
    4. Click Save, then click Close to return to the Payment Entry form.

    Note: To use the Adjust button, you must have selected the Allow Adjustments In Payment Batch option in the Options form.

  10. When finished, click Add or Save to apply the prepayment or credit note. (To cancel the application, click Close, or select another entry number, then click No at the message that appears asking whether you want to save your changes.)

After saving an apply document transaction

  • Print the Batch Listing. Correct entries, if necessary, then reprint the listing for each corrected batch.

    You must print batch listings before posting if you select the Force Listing Of All Batches option on the Processing tab of the Options form. Once batches are correct, file the reports.

  • On the Payment Batch List form, select the Ready To Post option for each batch, or select a batch, click the Post button, then click Yes when asked whether to set the batch Ready To Post.
  • Post the payment batch. If any transactions cannot be posted, Accounts Payable will create a new batch containing the transactions with errors.