Purchase Orders
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      How to Add Prepayments to the Purchase Orders

      A prepayment is made when a supplier receives payment from a buyer before shipping goods or providing services to the buyer per the sales agreement. In Precoro, you can add prepayments to Purchase Orders.

      TABLE OF CONTENTS

      Prepayment Process Functionality

      • In the Purchase Order, you can select a payment term:

      • After the PO is approved, Precoro will send an automatic notification to the user with the “Payment” role that the PO should be prepaid:
      • In the PO list, you will see an info card with a number of POs that can be prepaid:

      • Once the prepayment is added, the PO payment status will change to Prepaid:

      • The prepayment will be automatically applied to the next approved Invoice: 
      • You can cancel a prepayment at any time at the PO level, and it will be reflected in the related invoice, too:

      Frequently Asked Questions

      • Who can add prepayments?
      Any user with the “Payment” role and access to the PO page.
      • When can we add the prepayment?

      After the PO is approved and before the PO is fully paid.

      • Who can cancel a prepayment?

      Any user with the “Payment” role and access to the PO page.

      • Can we cancel a prepayment on the Invoice level?

      Yes, you can. However, the prepayment will stay in the PO, and you will have to cancel it in the PO manually.

      • Can we add multiple prepayments?

      Yes, you can.

      • Can we add a prepayment even if we selected the “Postpayment” term in the PO?

      Yes, you can.

      • In what currency will the prepayment be made?

      In the PO currency.

      • How do we see the prepaid amount in the reports?

      You can see the prepaid amount in the custom report by PO.