Prepayment invoice management in Sage x3

In sage X3, a new screen has been added to create, post, and pay prepayment invoices. In the A/P-A/R accounting module, the Prepayment invoice function (GESPREPI) can set up customer contract data with relative amounts and specific invoice types for prepayments and the final invoice.

The invoices are created in the Customer BP invoices function (GESBIC). Dedicated automatic journals are used to post prepayment invoices, prepayments linked to a contract, and transfer amounts from prepayments to the final invoice.

Navigation path: All>>A/P-A/R accounting>> Prepayment invoice management

Also, you can create, manage, and post prepayment invoices linked to a sales order in the Prepayment invoices management function. There can only be one contract for each sales order line. For a standard sales invoice, you can link the invoice to the Prepayment management function by setting the PREFUN – Prepayment management parameter (TC chapter, INV group) to Prepayment invoices for the site.

Payments are posted to an automatic journal until the contract is settled. The final invoice is a standard sales invoice, and when it is posted, the prepayment amounts are reversed so that the open items are settled properly. This closed the prepayment contract.

There are four tab added on this field Common rules, Contract info, Prepayment invoices, Final invoices and two main buttons Final invoice and prepayment invoice.

1. Common rules: In this tab, the Customer/Supplier code and account number can be entered.
2. Contract info: In this tab, all the contract amount details can be entered like Payment term, Contract currency, Tax rule, Early discounts/Late charges..etc.
3. Prepayment invoices: In this section, details related to the prepayment details like prepayment percentage, invoice amount are displayed
4. Final invoices: In this section, details related to the final invoice details like invoice amount and account details are displayed when a final invoice is created for a contract, the contract is closed.

After entering all the details, once you click on the prepayment invoice button, the below screen will pop up. Click on Yes.

Once you click yes, a customer BP invoice gets created. (Refer to the below screenshot)

All the prepayment invoice details will be displayed on the Prepayment invoice tab.

Once the invoice is posted, then the user can create the final invoice by clicking on the Final invoice button.

From the Customer BP invoices function, you can print payment details using the following reports:

1. BPCINVPRE – Prepayment invoice
2. BPCINVFIN – Final invoice

Hope this blog helps you managing prepayment invoice.

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