Exercise - Create a sales order prepayment
This exercise is written to use the Cronus sample company from the US version of Business Central. You might need to make adjustments to the steps if you use the sample company from your country or region.
Scenario
You have just received an order from customer 30000 (School of Fine Art):
Order Date of 04/08/22
10 pieces of item 1896-S
10 pieces of item 1900-S
You agree to a prepayment of 40 percent
The prepayment invoice has a payment term of 14 DAYS.
Tasks
Set up the prepayments function in Business Central.
Process the prepayment invoice.
Step - Set up the prepayments function in Business Central
Select the Search for Page icon in the top-right corner of the page, enter general posting setup, and then select the related link.
Select the line with the combination of DOMESTIC and RETAIL.
In the Sales Prepayment Account field, select the Look up value button and then select New.
In the No. field, enter 10650.
In the Name field, enter Sales prepayments.
In the Income/Balance field, select Balance Sheet.
In the Account Category field, select Liabilities.
In the Account Subcategory field, enter Current Liabilities.
Expand the Posting FastTab.
In the Gen. Posting Type field, select Sale.
In the Gen. Bus. Posting Group field, select DOMESTIC.
In the Gen. Prod. Posting Group field, select RETAIL.
Select OK and make sure that G/L account 10650 is entered as the Sales Prepayment Account.
Select the Search for Page icon in the top-right corner of the page, enter sales & receivables setup, and then select the related link.
On the Numbering FastTab, in the Posted Prepmt. Inv. Nos. field, enter S-INV+.
Press the escape (Esc) button.
Step - Process the prepayment invoice
Select the Search for Page icon in the top-right corner of the page, enter sales orders, and then select the related link.
Select New.
In the Customer field, enter 30000.
In the first line, enter the following information:
In the Type field, enter Item.
In the No. field, enter 1896-S.
In the Quantity field, enter 10.
Move to a new sales order line.
In the Type field, enter Item.
In the No. field, enter 1900-S.
In the Quantity field, enter 10.
Expand the Prepayment FastTab.
In the Prepayment % field, enter 40.
Select Yes to update the lines.
Select Actions > Posting > Prepayment > Post Prepayment Invoice.
Select Yes.
Select Navigate > Prepayment > Prepayment Invoices.
Select the No. field to open the prepayment invoice.