This forum is to discuss different features/issues of Oracle Financials modules ( GL - General Ledger, AP - Accounts Payable, AR - Accounts Receivable, FA - Fixed Assets & CM - Cash Management ).
How to identify that a client is using prepayment or not?
Could anybody please tell me that we received a prepayment of $100,000/- from a customer for the future transactions.
So, how to enter the same in our books?
You can create a specific payment method to register those sort of payments. This way, you can always query them and see in what siatuation they are (applied, unapplied, etc.)
You can't make a prepayment to customer from AP module . In case you receive an advance from customer, create a deposit in AR module and later adjust the same when you do sale invoice.
Prepayment invoice is to create only for employee / vendor advance.
