Steps to Enter Prepaid InvoicesPrepaid invoices are used in Accounts Receivable to enter the invoice and the payment for a customer at the same time, in order to record both the sale and the payment if completed all at once. Prepaid invoices include the customer ID, the amount billed, the amount paid, and the account number(s) to credit, if applicable.
If operating on a cash basis or an accrual basis, the specified revenue account numbers are credited and the applicable Accounts Receivable cash account (as designated in the Fund File) is debited when prepaid invoices are posted.
Steps to Enter Prepaid Invoices
Steps
to Correct a Prepaid Invoice Before
Posting
Steps
to Correct a Prepaid Invoice After
Posting
Steps
to Delete a Prepaid Invoice Before
Posting