Overview
Often a customer wants to pay for a commodity that is purchased before it is actually delivered. One way to handle this is by entering a Prepaid Booking that creates a Sales Contract in Grain. Following are the steps to do this as well as what to do if the customer does not take delivery of the entire booked amount and a refund needs to be issued.
Setup
Create or edit a Booking for a Commodity in Grain. Click on the P and the Dwn boxes. This will mark the Booking as a Down Payment Prepaid Booking.
Double click in the box. The Calculate Prepay box will open. Since the booking is tied to Grain, a requirement of the booking is that 100% of the total $ must be down paid. The dollars can be calculated by one of three methods. In this example, Percent of Total $ was used and ‘100’ was entered in the Amount box. The Total Down Payment now calculates out to the total amount of the booking. Click Done.
Once the Booking is saved, the Payment on Accounts screen will populate allowing the payment information to be entered. The customer’s account will now show that they have Prepaid Dollars.
In the event the whole booking is not utilized, the prepaid dollars can be refunded using the following steps.
Create an Invoice for the customer. Select the product on the booking twice. The units remaining will be entered in the Quantity column as both a positive and a negative so the quantity will be zeroed out.
On the Positive Quantity line, enter both a positive and a negative amount on each line to consume the booking. This will close the booking and the corresponding sales contract in Grain. The negative quantity line will have the same Unit $ so both lines zero each other out for dollars.
In the end, the prepay will be consumed and a credit invoice will be generated for the customer.
