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Types of Prepayments? And difference between them?
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Answer / guest
there are two types of prepayments
Permanent
Temporary
If you make permanent prepayment u cant apply it to any
invoice
If you make Temporary prepayment to close the transaction u
have to apply it to an invoice
| Is This Answer Correct ? | 17 Yes | 4 No |
Two types of Prepayment
Permanent Temporary
Cannot adjust to invoice an be adjusted to invoice
Can be converted to Temporary Can be converted to Perm
if no adjustment exists
For a prepayment to be adjusted it has to be fully paid.
Multiple installments are supported
| Is This Answer Correct ? | 16 Yes | 3 No |
Answer / yoga reddy
There are 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.
| Is This Answer Correct ? | 8 Yes | 1 No |
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