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Record vendor prepayments or deposit for prepaid parts or services

Record prepayments for parts or services in QuickBooks Desktop 

Detailed instructions

When you order a part or services from a Vendor, the Vendor may require you to prepay a portion or the entire bill before delivery. You can enter the prepayments, or deposits, in two ways:

  • Write a Check to the Vendor and record the check to your Accounts Payable (A/P) account, decreasing the balance until you are ready to enter the final bill.
  • Write a Check to the Vendor and record the check to an Other Current Asset (OCA) account, increasing the balance until you are ready to pay the final bill.

Consult your accounting professional to verify which is the best option for you.
 

KB ID# HOW13051
2/20/2017 7:29:42 AM
QYPPRDQBKSWS03 9138 Pro 2017 659d1b