- [this section is not visible to the customer]
- previously called partial payments, bill by unreceived
What is Prepayments?
Prepayments allows your finance team to prepare bills for prepayments on items that have not yet been received or fully received. This means that you no longer need to wait for an item to be received within Procurify to start creating a bill for it.
As soon as an item is added to a purchase order, that line item will appear in the Unbilled Items of the Accounts Payable section of Procurify, allowing you to create a bill for the item in advance. This feature facilitates the ability to pay a deposit or a payment on an order that has been received in part.
How does it work?
Once enabled, the POs available in the drop-down when creating a bill will include all POs that have not been closed/fully received.
- The line item now contains a sub-row indicating the quantity of the item received, as well as the amount previously billed.
- The line item edit menu will display drop-down options of billing for Cost or QTY (quantity).
Future bills created for the same PO will automatically pre-fill with the remaining amount to be paid. The same step can be applied to make another partial payment.
What are some important things to know about Prepayments?
- This feature is only recommended for organizations that do not require a strict 3-way match when creating bills.
- This feature is currently not reversible.
- Using this feature requires detailed attention to bill creation as it may result in overpayment.
- Prepayments cannot be applied to recurring spend items.
How can Prepayments be enabled on my domain?
If you want to use this feature, please reach out to your Customer Success Manager or select Contact Us at the top-right of the webpage.