💁To Process a Prepayment Order or Transaction, try to Follow these Steps: br ✅(1) Post the Purchase Prepayment Invoice, then...br ✅(2) Post Advance Payment (Receipt), and... br ✅(3) Apply this Posted Payment Entry on the Current Purchase Order, after that Post Regular Purchase Receipts or Invoices (following the standard and old way).br ---br ➡️Hint: Purchase Prepayment Account is treating like, Prepaid Expense, this is covered under the Current Assets (group) in the Balance Sheet (i.e., Financial Statement of every Company).br ----------br 💁Agenda of the Video: If our VendorSupplierService Provider require to Receive Payment before they'll Ship the Order, we can use the Purchase Prepayment process.br ▫️If you require, your Customers, to Pay before you'll Ship their Order to them, you can use the Sales Prepayment process.br We can start the Prepayment process, when we create a Purchase or Sales Order. br ---br ▫️The Default Prepayment tage for an item on the Order, or for the Vendor or Customer, will be included in the Prepayment Invoice. br We can also specify a Prepayment tage to the Entire Document, enabling the "Compress Prepayment" (option).br ---br ▫️After we create a Purchase or Sales Order, we can create a Prepayment Invoice for it. br Either use the Default tage for each Purchase or Sales Line, or Adjust the Amount. br For Example, we specify a Total Amount for the Entire Order.