Partial Payments to Vendors

Yahoo Archive
1
Thanks, Randy. I didn't realize you could pay a partial payment. That
worked great!



Kathy



________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Randy Lunsford
Sent: Thursday, April 05, 2007 10:56 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Partial Payments to Vendors



Kathy, I'm on 6.0 and would handle your situation in this manner: Pay
the 30% as an advanced payment. Receive the equipment and enter the
payable. The payable entered will be the purchase price, less the 30%
advance payment (Vantage will take care of the advance payment
automatically). Then when you pay the 50%, you will enter a partial
payment of the payable that was entered. Then, when the 20% is due, pay
the remainder. You will have to remember to pay the 20% when it is due
as Vantage will not handle this (at least I don't know how to do it
automatically).


Randall Lunsford
Excel Machinery, Ltd.
e-mail: rlunsf@... <mailto:rlunsf%40excelmach.com>
Phone: (806) 335-4565 ext. 531
Fax: (806) 335-9017

________________________________

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf
Of Kathy Hambleton
Sent: Thursday, April 05, 2007 9:04 AM
To: Vantage@... <mailto:Vantage%40Yahoogroups.com>
Subject: [Vantage] Partial Payments to Vendors

How would you handle this situation?

We purchased a piece of equipment, the terms are 30% with order, 50%
upon arrival to our plant and 20% net 30 days after machine is in
working condition. I did an advanced billing for the 30% down; the
equipment is here and was received into the computer. Do I unreceive
the equipment and do another advance billing for the 50%, and then
receive it in the computer? Or is there another way to only pay a
partial on the received equipment?

Kathy Hambleton

Manager of Accounting

Electron Energy Corporation

717-898-2294 ext 325

kbh@... <mailto:kbh%40electronenergy.com>
<mailto:kbh%40electronenergy.com>

[Non-text portions of this message have been removed]

[Non-text portions of this message have been removed]





[Non-text portions of this message have been removed]
2
How would you handle this situation?



We purchased a piece of equipment, the terms are 30% with order, 50%
upon arrival to our plant and 20% net 30 days after machine is in
working condition. I did an advanced billing for the 30% down; the
equipment is here and was received into the computer. Do I unreceive
the equipment and do another advance billing for the 50%, and then
receive it in the computer? Or is there another way to only pay a
partial on the received equipment?



Kathy Hambleton







Manager of Accounting

Electron Energy Corporation

717-898-2294 ext 325

kbh@...





[Non-text portions of this message have been removed]
3
Kathy, I'm on 6.0 and would handle your situation in this manner: Pay
the 30% as an advanced payment. Receive the equipment and enter the
payable. The payable entered will be the purchase price, less the 30%
advance payment (Vantage will take care of the advance payment
automatically). Then when you pay the 50%, you will enter a partial
payment of the payable that was entered. Then, when the 20% is due, pay
the remainder. You will have to remember to pay the 20% when it is due
as Vantage will not handle this (at least I don't know how to do it
automatically).


Randall Lunsford
Excel Machinery, Ltd.
e-mail: rlunsf@...
Phone: (806) 335-4565 ext. 531
Fax: (806) 335-9017



________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Kathy Hambleton
Sent: Thursday, April 05, 2007 9:04 AM
To: Vantage@...
Subject: [Vantage] Partial Payments to Vendors



How would you handle this situation?

We purchased a piece of equipment, the terms are 30% with order, 50%
upon arrival to our plant and 20% net 30 days after machine is in
working condition. I did an advanced billing for the 30% down; the
equipment is here and was received into the computer. Do I unreceive
the equipment and do another advance billing for the 50%, and then
receive it in the computer? Or is there another way to only pay a
partial on the received equipment?

Kathy Hambleton

Manager of Accounting

Electron Energy Corporation

717-898-2294 ext 325

kbh@... <mailto:kbh%40electronenergy.com>

[Non-text portions of this message have been removed]






[Non-text portions of this message have been removed]