Pre-paid

[Adrien Monteleone]

Pre-payments are any associated payments with an account that are not assigned to bills/invoices.

Since you unposted the invoice, the payment got unassigned. GC is usually good about restoring this assignment when you re-post the bill, but sometimes you have to fix things manually. This is particularly the case when you make the type of changes you describe.

At this point, it would probably be easier to delete the payment and then walk through the transactions again.

An important thing to consider is how you applied the discount.

Was it in the form of a credit note or did you add a discount line to the invoice, or did you change the line item price? The latter two will function pretty much the same save how you accounted for the variance, but the credit note method works a bit differently. An important question related to this is how did you book the insurance payment and what did you book it against? Depending on how complicated the insurance payout was, you could simply leave the invoice whole at the original price and record the insurance proceeds as a payment against it. (assuming you didn’t create a vendor bill or receive vendor credit from the insurance company) That would leave the balance the customer owes and then post that.

Issuing a discount or credit would decrease revenue which is maybe what you want to do, but if not, then use the insurance payout as a payment on the invoice as noted.

If going the discount route to decrease revenue, you don’t have to unpost and edit the original invoice. You can simply issue a credit note posted to the proper revenue account. Then when you record payment, select both the invoice and the credit note in the Process Payments window, this will show you the net balance due, record that amount as paid to the proper asset account and you’re done. The credit note will reverse the portion of the revenue account in question and you won’t have issue with unassigned payments.

Think of this in terms of credit notes being ‘correcting entries’ and that you don’t want to edit a posted invoice. (you can unpost any time of course, but as you’ve discovered, doing so after payments are assigned to it can get messy)

Regards,
Adrien

> On Jun 30, 2017, at 11:11 AM, Martijn Heuts <usadutchies at bellsouth.net> wrote:
> 
> Hello,
> I had to unpost an invoice as it was posted as paid in full but it was not (we applied discount instead of having an open balance). Now that I have the discount reduced and the payment posted it shows when I click on 'Pay Invoice':
> 6/14/2017   Invoice              62.006/30/2017   Pre-Payment                   62.00
> The date the invoice was created was 6/14The date the invoice was paid 50% was 6/14The date that I got insurance money for this invoice was 6/22 (this is when the invoice was entered paid in full after discount)On 6/30 it was unposted, discount was reduced to reflect the open balance, and payment for remaining balance was posted again.The post date was set to 6/14 and the due date set to 6/30.
> Can someone tell me why it shows pre-payment and how to fix it?
> Thanks for all your help. Have a blessed weekend and a great 4th of July!!
> Martijn
> 
> 
> 
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