A Vendor Deposit is an initial payment required by the Vendor to accompany the Purchase Order in order for the Vendor to begin processing the order. Deposits are normally less than 100% of the cost of the merchandise being ordered. If 100% of the merchandise is being requested, it is suggested that the payable be recorded as a Vendor Invoice on the Project Purchase Order rather than as a Deposit. This process is described under Vendor Invoice for an Inventory Purchase Order.
When adding a Vendor Deposit on an Inventory Purchase Order, the Vendor Deposit, Invoice, or Operating Expense Window has the following fields:
Purchase Order Number (PO#): The Purchase Order Number for which the Deposit is being sent.
Pay With: The Pay With selection allows the user to choose the method of payment for the Vendor Deposit, either by Check/Wire Transfer or a Credit Card. The "A Check" will be the only selection that can be made until a Credit Card Account has been defined in the Accounts Glossary or additional Accounts Payable Payment Type has been created. For more information on defining Credit Cards in Design Manager, see Paying a Vendor with a Credit Card while adding additional A/P Payment Types is described in under Accounts Payable Payment Types and the Company Information Window - A/P Payment Types.
Vendor: The Vendor Code to which the Deposit is being sent. The Vendor Name will be displayed upon entering or selecting a valid Vendor Code.
Invoice Date (Inv. Date): The Invoice Date is used to record the date that the Deposit is being issued and defaults to the Ordered Date of the Inventory Purchase Order.
Due Date: The Due Date is the date by which the Deposit check needs to be sent to the Vendor and is often the same as the Invoice Date. The Due Date defaults to the Ordered Date of the Inventory Purchase Order but can be changed.
Transaction Description (Trans. Desc.): This is an optional field which allows the user to enter a brief description of the Deposit transaction.
Amount: Input the proper amount of the Deposit. The Amount will default to the total Requested Deposit of the Inventory Purchase Order.
Notes: Any internal information regarding the Deposit can be entered in the Notes field. The Notes will be displayed on the Existing Vendor Payables Grid of the Vendor Deposits, Invoices, and Operating Expenses Window - Existing Tab and certain Accounts Payable reports.
Hand Check/Wire Transfer (Hand Chk / Wire Trans): If a hand written check, wire transfer, or debit card is used to pay the Vendor Deposit, click this button to open the Hand Check / Wire Transfer Window. The Hand Check / Wire Transfer Window allows the user to enter a Check Number, or automatically create a Wire Transfer Number, and date to record the payment in the Checkbook.