Creating Voucher for Downpayment on Purchase Order
Does anyone have a preferred method of entering in a voucher for a downpayment on a purchase order? For example, I am procuring a machine and they need 50% down to process the order. My thoughts are either I can receive in a partial amount (even though physically nothing came in) and create a standard voucher or create a voucher against the PO and apply a miscellaneous distribution, making sure that it is applied to the same G/L account.
Is there another option, or is one of these the preferred way? Thanks in advance!
Create a miscellaneous check - it'll leave a credit memo open for future use to apply to the invoice you'll eventually receive.
Thank you for the suggestion on the misc check. The only thing that scares me is that the credit may get applied to a different invoice from the vendor. If there was a way to link a misc check to a specific PO, I think the problem would be solved.
I guess as a work around, we can just put the PO that it can be applied to in the notes, and hope the A/P gal remembers to always check it prior to applying it.
Any other more error-proof suggestions? If not, this will work, I'm just afraid it is prone to mistakes.
Thanks,
Mark
Well, the open credit will just remain on the unapplied credit memo list until you apply it - so there's an element of care expected.
You could simply use the "Memo" field that's usually blank.
After that it's pretty much training.
