A prepaid order is a purchase order for items that you must pay for at the time of order. Some vendors may require you to send prepayment for all or certain types of items.
The steps for creating a prepaid order are the same as those for creating a regular order, except that you must set the Spent Event field on the PO header to “Create Invoice at PO Line Approval (Prepaid).” This setting expends funds for items at the time you approve the proforma statement for the prepaid order. Horizon creates an invoice for the purchase order automatically when you approve the order’s PO lines. (For more information, see Approving PO Lines.) You can also create a voucher for the purchase order after you approve the proforma statement for it.
You should coordinate with your funding office to ensure that payment is sent with the purchase order. You might send the purchase order to your funding office. The funding office can then prepare a check for the prepaid materials and send it to the vendor, along with the purchase order.
Subscriptions require prepayment. If you are creating a purchase order for a new title subscription, you may want to set the Spent Event field to “Create Invoice at PO Line Approval (Prepaid).” This lets you create a voucher for the purchase order without receiving it. To ensure that funds are expended for lines that you add after future renewals, approve the proforma statement. You can then print the voucher.
Effects
If you set the Spent Event field to “Create Invoice at PO Line Approval (Prepaid)” Horizon:
• | Encumbers funds against the budgets on the PO lines at the time you create the PO lines. (Funds are expended at statement approval. For more information, see Approving Statements.) |
• | Automatically generates an invoice statement for the purchase order when you approve the order’s PO lines. |
• | If you are approving a PO line on a PO that already has a prepaid statement number for an approved statement, then Horizon creates a new proforma statement. Horizon replaces the old statement number with the new statement number on the PO. This means that subsequent titles you add to the PO will go on the next proforma statement. If you do not approve the proforma statement, Horizon continues adding lines to the proforma statement. |
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