Prepayments to vendors in AX7

Prepayments are a common business practice, with organizations issuing prepayments to vendors for goods or services before those goods or services are fulfilled. To minimize risk, you can track prepayments by defining the prepayment on a purchase order. Vendors can also create a prepayment invoice that is associated with a purchase order.

New prepayment functionality is available in Microsoft Dynamics AX7, making it easier for organizations to complete, manage and track prepayments to vendors. There are five steps involved with processing a prepayment for a purchase order, which include the following:

1. Create the purchase order.
2. Set up the prepayment.
3. Post the prepayment.
4. Make a payment.
5. Settle the payment against the final invoice.

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