Forum Discussion

birtheLH's avatar
27 days ago

Prepayments for Sales invoices

Our biggest Customer asked if he could pay a weekly amount to smooth out cashflow.


We have discussed the to receive payments weekly and than apply to Invoices as they occur and send out Statements at the end of the months showing the Account, than have a review of Payments quarterly to ensure neither is going to end up with big monies owed.


How can I record this in MYOB AR, we most likely going to have on Invoice at the end of the month showing labour and Parts used over the months and than be able to apply previously paid amounts to the Invoice.


If I create a liability account i can't use it to "Receive Payments" on Invoices. Would it have to be Journal Entries and than balanced at the end of months?

1 Reply

  • Shella_A's avatar
    MYOB Moderator

    Hi birtheLH


    A prepayment is a payment received from a customer before you've issued an invoice. To handle this in AccountRight, create a credit note for the prepayment amount. You can then create an invoice to reflect what the customer has made the prepayment for. See this helpful article about customer prepayments to assist you with this. Let me know if you need further help!



    Kind regards,