Sage 100 ERP: Customer Deposits and Prepays

Introduction

This tutorial will guide you through the process of handling customer deposits and prepayments in Sage 100 ERP. Understanding these processes is essential for maintaining accurate accounting records and managing cash flow effectively. Whether you are new to Sage 100 or looking to refine your skills, this guide will provide you with clear, actionable steps.

Step 1: Accessing Customer Deposits

1. Navigate to the Module:

   • Open Sage 100 ERP and go to the Accounts Receivable module.
   • Select the Customer Deposits option from the menu.

2. Create a New Deposit:

   • Click on the New button to start a new deposit entry.
   • Fill in the required fields, such as customer name and deposit amount.

3. Select Deposit Type:

   • Choose the type of deposit you are processing (e.g., cash, check, credit card).
   • Ensure that you have a clear understanding of how each deposit type affects your accounting records.

Step 2: Entering Deposit Details

1. Input Deposit Information:

   Enter the relevant details for the deposit, including

   • Deposit Date: The date you received the payment.
   • Amount: The total amount of the deposit.
   • Reference Number: Any check or transaction number for tracking purposes.

2. Link to Customer Invoice:

   • If applicable, link the deposit to an existing customer invoice.
   • This step ensures that the deposit is applied correctly to the customer’s account.

3. Save Your Entry:

   • After entering all necessary information, click Save to record the deposit.
   • Review the entry for accuracy before finalizing.

Step 3: Processing Prepayments

1. Access Prepayments Section:

   • Still within the Accounts Receivable module, locate the Prepayments option.

2. Create a New Prepayment:

   • Click on New to initiate a prepayment entry.
   • Similar to deposits, fill in the customer details and prepayment amount.

3. Specify Prepayment Terms:

   • Indicate any specific terms related to the prepayment, such as expiration dates or conditions for usage.

4. Save the Prepayment:

   • Review the details and click Save to finalize the prepayment entry.

Step 4: Applying Deposits and Prepayments

1. Open Customer Invoice:

   • Navigate to the Invoices section and select the appropriate customer invoice for which you want to apply the deposit or prepayment.

2. Apply Payment:

   • Choose the Apply Payment option and select the deposit or prepayment you want to apply.
   • Enter the amount you wish to apply and confirm the selection.

3. Finalize the Application:

   • Once you’ve applied the payment, review the invoice to ensure the correct amount has been credited.
   • Click Save to update the invoice status.

Common Pitfalls to Avoid

• Inaccurate Entries: Double-check all amounts and customer details to avoid errors in your accounting records.
• Failure to Link Payments: Always link deposits and prepayments to the correct invoices to maintain clear records and avoid confusion.
• Not Saving Changes: Remember to save each entry; unsaved changes can lead to lost information and extra work.

Conclusion

You now have a clear understanding of how to manage customer deposits and prepayments in Sage 100 ERP. By following the steps outlined in this tutorial, you can ensure that your accounting records are accurate and up-to-date. For further assistance or more advanced features, consider reaching out to Sage 100 experts like Sue Deters or Suzanne Watson. Happy accounting!