Permanent prepayment

[darling]

Hi Friend's

Kindly clarify to me about permenent Prepayment.

1.What is the use of permenent prepayment.
2.How it will work
3.How to pay against permenent prepayment.
4.At what scenario we will use this.

Regards
vijay

[pinnashanmukh]

Hi,

Only different for permanent prepayment and temporary prepayment is

Standard invoice cannot be applied to permanent prepayment invoice but temporary prepayment can be applied against standard invoice

There is no impact on payment of a Permanent Payment or temporary prepayment invoice.


Business reasons as explained in user guide

two types of prepayments: Temporary and Permanent. Temporary
prepayments can be applied to invoices or expense reports you receive. For example,
you use a Temporary prepayment to pay a hotel a catering deposit. When the hotel's
invoice arrives, apply the prepayment to the invoice to reduce the invoice amount you
pay. Permanent prepayments cannot be applied to invoices. For example, you use a
Permanent prepayment to pay a lease deposit for which you do not expect to be
invoiced.

Hope this clarifies your answer

Thanks,
Shanmukh

[sury.surendra]

Thanks Shanmuch...

Im planning to create a Blog hence im taking this FAQ for helpful in future