Sending a Vendor a Deposit

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vendor deposit button

If a Vendor requires that a deposit be sent with a Purchase or Work Order, you can create a Vendor Deposit for the Purchase/Work Order.  On the Documents and Accounting Window, select the Purchase or Work Order to which you wish to send a Deposit and click the Vendor Deposit button or right-click the Purchase/Work Order and select New è Deposit to Vendor for a PO.  You can do this from either the Project or Vendor Tab.  The Vendor Deposit, Invoice, or Operating Expense Window will open with the Type set to Deposit for a Project PO.


vendor deposit window


The Purchase or Work Order Number will appear at the top of the window with the Vendor Code and Name displayed directly underneath.  The Invoice Date and the Due Date usually remain set to the current date.  The Amount will default to the Total Requested Deposit of the Purchase/Work Order.  The Total Requested Deposit for the Purchase/Work Order is calculated from the Vendor Deposit Percent on the Component Window - Component Tab for each Component included on the Purchase or Work Order.  Insure that the Amount is correct and make changes as needed.  For example, the Vendor can be changed if the Deposit is going to Product Representative.  Choose the proper method to pay the Deposit in the Pay With menu which will default to “A Check”. To choose to pay with a Credit Card, select the desired Credit Card from the Pay With menu.  For more information on using a Credit Card to pay your Vendor, see Paying a Vendor with a Credit Card.  If paying with a hand written check or a wire transfer/debit card, click on the Pay Now: Hand Check / Wire  / ATM / Debit button to enter the payment information on the Invoice Payment Window.  If a Check is going to be physically printed on the printer, do not click the Pay Now button.  Click the OK button to save the new Deposit.  The Deposit will now appear on the Documents and Accounting Window below the Purchase or Work Order, displaying the Invoice Date and Amount of the Deposit.  If you recorded a hand check/electronic payment, you'll notice the payment information as well which shows the Check/Transfer Number, Date, Amount, and Payee for the payment.


For a full explanation of the Vendor Deposit, Invoice, or Operating Expense Window, see the section Entering Payables under Accounting Features.


If you need to print the check through Design Manager, skip to the section on Printing Checks.


Accounting:  Upon creating a Vendor Deposit, Design Manager will credit the Accounts Payable Account and debit the Vendor Deposit Account.  The Vendor Deposit will remain on Accounts Payable until a Check or other form of payment is applied to the Deposit.  If the Pay Now button was used, then Design Manager will further debit the Accounts Payable Account and credit the designated Cash Account.  If the Deposit is being paid with a Credit Card, the Credit Card Liability Account, rather than Accounts Payable, will be credited.