ManualDoc:TA4A463FA34F946BFA3F687DC8754ED93

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The image below shows the Payment Method window. That is the window where payment methods are configured.

However payment methods are assigned to financial accounts therefore a different configuration of a given payment method can also be defined in the payment method tab of the financial account window.

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As a consequence of that the same method of payment can have different configuration "versions" depending on the financial account it has been assigned to.

It is very important to remark that:

  • the configuration of a payment method created in a financial account overwrites the "generic" configuration of that payment method while managing payments associated to that payment method in that financial account.
  • even more, the payment methods which can be use:
    • while issuing a sales invoice for instance
    • or while assigning a by default payment method to a vendor
are the ones which are already assigned to a financial account.
In other words, it is not possible to use a payment method if it is not assigned to a financial account.

Finally, if it is required to review the payment method assigned to a business partner, the steps to follow for doing that are:

  • navigate to the financial account assigned to that business partner if any
  • and then to the payment method tab of the financial account.

Payment Method configuration includes below features.

  • if it is going to be used for receving payments and/or making payments
  • if it implies a manual execution, for instance "Cash" or an automatic execution, for instance "Check"
  • if it is going to automatically create the registration of the transfer of money before the transaction is confirmed on our bank account or cashbook.
    • that is a "Receipt" in case of receiving a payment
    • that is a "Payment" in case of making a payment
  • if it is going to automatically add the transaction in the financial account related to the movement of the money in or out of our bank account or cashbook.
    • that is a "Deposit" in case of receiving a payment
    • that is a "Withdrawn" in case of making a payment
  • if it allows to receive or make payments in other currencies than the financial account currency
  • and finally how the payment is going to be accounted. To learn more visit the section Accounting Payment Workflow.


Payment Methods can be configured as explained below in detail:

Payment Method configuration

Payment In Configuration:

  • Payment In Allowed: If checked the Payment Method is enabled to receive payments.
  • Automatic Receipt: If checked, on completion of a Sales Invoice the payment is automatically received.
    For getting that working the corresponding customer needs to have a "Financial Account" defined by default in the customer tab of the Business Partner window. The reason why is:
    • this check automatically creates a "Receipt" transaction in the Payment In window. A payment in requires a financial account.
  • Automatic Deposit: If checked, on completion of the Receipt the payment is automatically deposited in the financial account.
    For getting that working the corresponding customer needs to have a "Financial Account" defined by default in the customer tab of the Business Partner window. The reason why is:
    • this check automatically creates a "Deposit" transaction in the transaction tab of the financial account window. A deposit requires a financial account.
  • Receive Payments in Multiple Currencies: If checked, it is possible to receive payments in other currencies than the Financial Account default currency.
    • Above means that a sales invoice in USD can be deposited in a Financial Account configured in EUROS, for instance. For getting that working the corresponding customers needs to have a Sales Price List in USD assigned.
    • It will be possible to enter a given exchange rate while creating the payment in the Sales Invoice window, by using the "Add Payment" button.
    • It will be possible to select both USD currency and a given exchange rate, while "manually" receiving the payment in the Payment In window, or while "manually" creating the deposit of the payment in the transaction tab of the financial account window, by using the "Add Transaction" button and then the "Add Payment In/Out" button.
  • Execution Type. There are payments which might or might not require an additional step to be executed. Therefore there are two execution types:
    • Manual: this is the execution type by default, unless it is changed to "Automatic". This type implies the "Reception" of the payment as a manual event without the need of any additional system step. For example, payment by cash.
    • Automatic: if the execution type is changed to "Automatic" Openbravo allows to choose an "Execution Process, in other words the "Reception" of the payment requires to execute an additional step for instance the recording of a "Check Number".
      There are three execution process available:
      • Simple Execution Process - this process that not require any action as automatically changes the payment status from Awaiting Execution to Payment Received.
      • Print Check simple process - this process shows a window which allows to enter a check number while processing the payment in the Payment In window, and changes the payment status from Awaiting Execution to Payment Made. The check number entered is saved as the "Reference Number" of the Payment.
        • In case there are more than one payment and a given check number is entered, the process automatically saves as much consecutive check numbers as payments. Those numbers are also saved as "Reference Number" of the Payments.
      • Leave as Credit - this process is just use Return Materials functionality as it allows to change a negative payment in/out into a positive credit for the business partner (customer/vendor).
    • Deferred:
      • If not checked the payment once processed is also automatically executed, this applies to "Simple Execution Process" where no additional action is needed.
      • If checked the payment is processed but it is not executed. It has to be manually executed once the payment gets an "Awaiting Execution" Payment Status in the Payment In window by using the button "Execute Payment". That applies to "Print Check simple process" where a check number needs to be entered for instance.
  • Upon Receipt Use: Account to be used to account the payment Receipt.
    • Would normally be either left blank if the financial transaction is going to be created later in the workflow or if it is not required any posting at this stage in the cycle, otherwise the "In Transit Payment Account" can be assigned to get that:
      • the payment Receipt is posted in the "In Transit Payment IN Account" defined in the Accounting Configuration tab of the financial account window.
  • Upon Deposit Use: Account to be used to account the payment Deposit.
    • Would normally be left blank if no financial transaction required for the Deposit event or if it is not required any posting at this stage, otherwise the "Deposited Payment Account" can be assigned to get that:
      • the payment Deposit is posted in the "Deposit Account" defined in the Accounting Configuration tab of the financial account window.
  • Upon Reconciliation Use: Account to be used to account payment Reconciliation.
    • Would normally be set to the "Cleared Payment Account", but could be left blank if the payment Receipt or if the payment Deposit have already been posted earlier in the process. If it is set to "Cleared Payment Account":
      • the payment Reconciliation is posted in the "Cleared Payment Account" defined in the Accounting Configuration tab of the financial account window.

Payment Out Configuration:

  • Payment Out Allowed: If checked the Payment Method is enabled to make payments.
  • Automatic Payment: If checked, on completion of a Purchase Invoice the payment is automatically received.
    For getting that working the corresponding vendor needs to have a "Financial Account" defined by default in the vendor tab of the Business Partner window. The reason why is:
    • this check automatically creates a "Payment" transaction in the Payment Out window. A payment out requires a financial account.
  • Automatic Withdrawn: If checked, on completion of the payment, the payment is automatically withdrawn from the financial account.
    For getting that working the corresponding vendor needs to have a "Financial Account" defined by default in the vendor tab of the Business Partner window. The reason why is:
    • this check automatically creates a "Withdrawal" transaction in the transaction tab of the financial account window. A withdrawn requires a financial account.
  • Make Payments in Multiple Currencies: If checked, it is possible to make payments in other currencies than the Financial Account default currency.
    • Above means that a purchase invoice in USD can be withdrawn in a Financial Account configured in EUROS, for instance. For getting that working the corresponding vendor needs to have a Purchase Price List in USD assigned.
    • It will be possible to enter a given exchange rate while creating the payment out in the Purchase Invoice window, by using the "Add Payment" button.
    • It will be possible to select both USD currency and a given exchange rate, while "manually" making the payment out in the Payment Out window, or while "manually" creating the withdrawn of the payment out in the transaction tab of the financial account window, by using the "Add Transaction" button and then the "Add Payment In/Out" button.
  • Execution Type. Same as above but for the payments made.
  • Upon Payment Use: Account to be used to account the payment.
    • Would normally be either left blank if the financial transaction is going to be created later in the workflow or if it is not required any posting at this stage in the cycle, otherwise the "In Transit Payment Account" can be assigned to get that:
      • the payment is posted in the "In Transit Payment OUT Account" defined in the Accounting Configuration tab of the financial account window.
  • Upon Withdrawal Use: Account to be used to account the payment Withdrawal.
    • Would normally be left blank if no financial transaction required for the Withdrawal event or if it is not required any posting at this stage, otherwise the "Withdrawal Payment Account" can be assigned to get that:
      • the payment Withdrawal is posted in the " Withdrawal Account" defined in the Accounting Configuration tab of the financial account window.
  • Upon Reconciliation Use: Account to be used to account payment Reconciliation.
    • Would normally be set to the "Cleared Payment Account", but could be left blank if the payment or if the withdrawal have already been posted earlier in the process. If it is set to "Cleared Payment Account":
      • the payment Reconciliation is posted in the "Cleared Payment Account" defined in the Accounting Configuration tab of the financial account window.

One of the key features allowed by the payment method configuration is to get that two of the three payment cycle stages can be automated:

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As shown in the image above, if the Automatic Receipt/Payment and Automatic Deposit/Withdrawn are selected, the manual actions to execute are:

  • the creation and booking of the sales/purchase invoice
  • the payment in/out reconciliation in the financial account

because, the Payment In/Out as well as the Deposit/Withdrawn transactions are automatically created.

If the Automatic Receipt/Payment and Automatic Deposit/Withdrawn are NOT selected, the manual actions to execute are:

  • the creation and booking of the sales/purchase invoice
  • the creation of the Payment In/Out
  • and the creation of the Deposit/Withdrawal transaction in the financial account, unless the action "Process Made Payment(s) and Withdrawal" or "Process Received Payment(s) and Deposit" are selected while processing the payment.

Accounting Payment Workflow

Openbravo allows a flexible payment accounting process, that means that a payment associated to a given payment method can be posted or not in any of its Payment Cycle stages.

As already described a payment received from a customer goes through below stages:

  • Step 1 - the "Receipt" of the payment
  • Step 2 - the "Deposit" of the Receipt in the Financial Account
  • Step 3 - and finally the "Reconciliation" of the Deposit once the bank statement has been received.

Analogue situation happens while making a payment to a vendor:

  • Step 1 - the "Payment"
  • Step 2 - the "Withdrawal" of the payment from the Financial Account
  • Step 3 - and finally the "Reconciliation" of the Withdrawal once the bank statement has been received.

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For each step, it is possible to specify the default account for the receivables and payables cycles independently.

Each financial account needs to have at least one default account for both the receivables and payables cycle at either step 1, step 2 or step 3.

Both on the payables and receivables side, the first step containing an account represents the moment in which the supplier liability or customer receivables are cancelled.

For instance, if the Receive Payment Account is empty and you specify a Deposit Account, the customer receivables is cancelled at the moment of the deposit, not at the time of recording of the payment.

Any subsequent step having an account would offset the account in the previous step with the account in that step to represent the diminishing of the risk.

In other words, each of the stages can be posted in the windows/tabs where those ones are created if there is a value defined in the "Upon...Use" fields.

For instance:

  • if for a payment method the value "In Transit Payment Account" is selected in the field "Upon Receipt Use" that means that:
    • the receipt of the payment can be posted in the Payment In window by using the process button "Post".
    • the customer receivable is going to be cancelled by the "In Transit Payment IN Account" defined in the accounting configuration tab of the financial account window.
  • if for a payment method the value "Deposited Payment Account" is selected in the field "Upon Deposit Use" that means that:
    • the deposit of the payment can be posted in the Transaction tab of the financial account window by using the process button "Post".
    • the payment receipt is going to be cancelled by the "Deposit Account" defined in the accounting configuration tab of the financial account window.
  • if for a payment method the value "Cleared Payment Account" is selected in the field "Upon Clearing use"
    • that means that the reconciliation of the deposit can be posted in the Reconciliation tab of the financial account window by using the process button "Post".
    • the deposit of the payment is going to be cancelled by the "Cleared Payment Account" defined in the accounting configuration tab of the financial account window.

It is important to remark that if any account is left empty that would imply that the process button "Post" is shown as "Post:Disable for accounting" in the corresponding window.

Examples

This section shows some "Payment Methods" examples and the flow of events of those payment methods:

Example 1: Payment by Check

The objective of this example is to show how to pay a purchase invoice linked to a "Check" Payment Method configured in such a way that all the payment stages are manual but the "Payment" creation and the "Check Number" registration:

The steps to follow are:

  • the creation and booking of a purchase invoice linked to a "Check" payment method.
  • the registration of the check number after processing the payment created
  • the posting of the payment
  • the addition of the withdrawal transaction in the Financial Account which can then be posted
  • and the import of the bank statement which allows the reconciliation of the withdrawal

To get this example working "Check" Payment Method needs to be assigned to the Financial Account to be used.

Besides "Check" payment method needs to be configured as described below:

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  • Check payment method is allowed to make payments
  • The "Automatic Payment" check box is set to "Yes", therefore the end user can see in the Payment Out window that the payment has been created once the purchase invoice has been booked.
  • The "Execution Type" is "Automatic" as a "Print Check Simple Process" needs to be executed to allow the end user to enter a check number while processing the Payment.
  • "Deferred" check-box is set to "Yes", therefore after processing the payment it changes its status to "Awaiting Execution" and a new button is then show in the Payment Out window, named "Execute Payment". If the user execute the payment the check number can be entered.
  • Finally this payment is going to be accounted first after creating the payment and after creating the withdrawal transaction in the financial account.
    The accounts use will be the "In Transit Payment Account" and the "Withdrawn Payment Account" defined in the Accounting Configuration tab of the financial account used.

The vendor used in the example needs to have a the financial account used and "Check" payment method assigned in the Vendor tab.

And finally, the financial account used in the example needs to have the standard matching algorithm setup.

Let's review how to execute each of the steps listed above:

1. Creation and booking of the purchase invoice.

As already mentioned this action automatically creates the payment in the Payment Out window.
Once reviewed this payment can be processed.
The payment action to take while processing the payment out is "Process Made Payment(s)", therefore the payment is not automatically withdrawn from the Financial Account, first thing is to send a check to the vendor.
Once processed the status of the payment changes to "Awaiting Execution" as the check box "Deferred" is set to Yes.
Overall, this step means the registration of the transfer of money out before it is confirmed on our bank, what is missing now is to register the check number.

2. Registration of the check number after processing the payment created.

Payment Out window shows a process button named "Execute Payment", therefore the execution process can be executed to allow entering a check number.
Once executed the payment status changes to "Payment Made".

3. Posting of the Payment

The payment can be manually posted by the end-user in the Payment Out window or can be automatically posted by the Accounting Sever Process, if that is the case the label of the "Post" button would have automatically changed to "Unpost".
Payment posting looks like:
Account Debit Credit
Vendor Liability 10.000,00 EUR
Upon Payment Use the "In Transit Payment OUT Account" 10.000,00 EUR

4. Addition of the withdrawal transaction in the Financial Account which can the be posted

This step is done in the Financial Account used by using the "Add Transaction" process button.
Once done the payment is shown in the Transactions tab of the financial account window and changes its status to "Withdrawal not Cleared"
Overall, this step means the addition of the payment in the financial account once it is confirmed by our bank account, in our example once the money has been withdrawn from our bank account.
The withdrawal can be manually posted by the end-user in the Transactions tab of the financial account window or can be automatically posted by the Accounting Sever Process, if that is the case the label of the "Post" button would have automatically changed to "Unpost".
Withdrawal posting looks like:
Account Debit Credit
In Transit Payment OUT Account 10.000,00 EUR
Upon Withdrawal Use the "Withdrawal Account" 10.000,00 EUR

5. Import of the bank statement which allows the reconciliation of the withdrawal

The import of a bank statement can be done if the Financial Account has at least the "Standard" Matching Algorithm assigned and whenever a file import module is installed and its dataset applied.
If that is the case the import can be executed in the Financial Account by using the process button "Import Statement".
That import process allows to import bank statements having a "Standard ofx" format.
The bank statement and the bank statement lines can be reviewed once imported in the Imported Bank Statements tab of the financial account.
The financial account has now the deposit and withdrawal transactions as well as the bank statements lines. Those can be matched by using the process button Match Statement.
Once reconciled the payment status changes to "Payment Cleared".

Example 2: Wire Transfer

The objective of this example is to show how to register a customer payment linked to a "Wire Transfer" Payment Method configured in such a way that all the payment stages are manual but the "Deposit" creation in the financial account.

The steps to follow are:

  • the issue of the sales invoice linked to "Wire Transfer" payment method
  • the creation of the customer payment once it is known that the wire transfer has been successfully executed
  • the process of the receipt
  • the posting of the deposit
  • and the import of the the bank statement which allows the reconciliation of the deposit

To get this example working the "Wire Transfer" payment method needs to be assigned to the Financial Account to be used.

Besides "Wire Transfer" configuration needs to be as described below:

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  • Wire Transfer payment method is allowed to receive payments
  • The "Automatic Receipt" check box is set to "No", the creation of the payment out transaction is created manually once it is known that the wire transfer has been successfully executed by the customer.
  • The "Automatic Deposit" check box is set to "Yes", the creation of the deposit financial account transaction is automatic when the payment Out transaction is processed.
  • The "Execution Type" is "Manual" as there is not an automatic process to register that the wire transfer has been successfully executed.
  • Finally this payment is going to be accounted at deposit time using the cleared account.
    The account use will be the "Cleared Payment Account" defined in the Accounting Configuration tab of the financial account used.

Let's review how to execute each of the steps listed above:

1. Issue of the Sales Invoice

As configured in the payment method used while issuing the sales invoice ("Automatic Receipt" check box is set to "No"), no payment transaction document is going to be automatically created upon completion of the invoice.

2. Creation of the customer Payment or Receipt

As explained previously, the creation of the payment transaction is done manually:
In the Sales Invoice window by using the process button "Add Payment".
Or in the Payment In window by using the process button "Add Details"

3. Process of the Receipt

As "Automatic deposit" check box is set to "Yes" when processing the payment only the action "Process Received Payment(s) and Deposit" is enabled, this action automatically creates the deposit transaction in the Financial Account.

4. Posting of the deposit

The wire transfer can be manually posted by the end-user in the Financial Account - Transaction tab or can be automatically posted by the Accounting Sever Process, if that is the case the label of the "Post" button would have automatically changed to "Unpost". Payment posting looks like:
Account Debit Credit
Customer Receivables 10.000,00 EUR
Upon Deposit Use the "Cleared Payment Account" 10.000,00 EUR

5. Import of the the bank statement which allows the reconciliation of the deposit

The import of a bank statement can be done if the Financial Account has at least the "Standard" Matching Algorithm assigned and whenever a file import module is installed and its dataset applied.
If that is the case the import can be executed in the Financial Account by using the process button "Import Statement".
That import process allows to import bank statements having a "Standard ofx" format.
The bank statement and the bank statement lines can be reviewed once imported in the Imported Bank Statements tab of the financial account.
The financial account has now the deposit and withdrawal transactions as well as the bank statements lines. Those can be matched by using the process button Match Statement.
Once reconciled the payment status changes to "Payment Cleared".

Example 3: Payment with Cash

The objective of this example is to show how to register a customer payment by using "Cash" Payment Method configured in such a way that all the payment stages are automatic but the creation of the corresponding sales order.

The organization uses Openbravo to keep track of the sales which are paid in cash by their customers.

The steps to follow are:

  • creation of "POS" sales orders type linked to "Cash" payment method
  • post the "Deposit"
  • manual reconciliation of the deposits.

To get this example working the "Cash" payment method needs to be assigned to the Financial Account to be used.

Besides "Cash" configuration needs to be as described below:

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  • Cash payment method is allowed to receive payments
  • The "Automatic Payment" check box is set to "Yes", therefore the end user can see in the Payment IN window that the receipt of the payment has been created once the sales invoice has been booked.
  • The "Automatic Deposit" check box is set to "Yes", the creation of the deposit financial account transaction is automatic when the payment Out transaction is processed.
  • The "Execution Type" is "Manual" as there is not an automatic process to register the payment by cash.
  • Finally this payment is going to be accounted after the creation of the "Deposit" transaction in the financial account.
    The account use will be the "Deposited Payment Account" defined in the Accounting Configuration tab of the financial account used.

Let’s review how to execute each of the steps listed above:

1. Creation of the sales orders.

As already mentioned upon completion of the order, the corresponding goods shipment and sales invoice are automatically created.
As per the payment method setup, upon completion of the invoice/s the corresponding receipts and deposits are automatically created.
The payment status at this stage is Deposited not cleared.

2. Post the "Deposit

The deposit can be manually posted by the end-user in the Transaction tab of the financial account window or can be automatically posted by the Accounting Sever Process, if that is the case the label of the "Post" button could have automatically changed to "Unpost".

Deposit posting looks like:

Account Debit Credit
Customer Receivables 10.000,00 EUR
Upon Deposit Use the "Deposit Account" 10.000,00 EUR

3. Manual reconciliation of the deposits.

As the financial account does not have a matching algorithm configured, it is not possible to import bank statement lines to be later on matched against the financial account transactions, but to manually reconcile the financial account transactions by using the process button "Reconcile".
This process opens the "Reconciliation" window which shows all the deposits "Received In" and all the withdrawals "Paid Out" to be reconcile.
Once reconcile the payment status changes to "Payment Cleared".

Example 4: Payroll Payment by Wire Transfer

The objective of this example is to show how to register a "Payroll" payment and get it ready until it can be paid at the end of the month.

The steps to follow are:

  • to create a GL Item to properly account the payroll payment.
  • to register and process the payroll payment directly as a Payment Out by using the GL item created.
  • to execute the payment at the end of the month
  • to post the withdrawal
  • and finally to manually reconcile the withdrawal

To get this example working the payment method "Wire Transfer" assigned to the Financial Account to be used needs to have below configuration:

  • Payment Out Allowed = Yes
  • Automatic Payment = No
  • Automatic Withdrawn = Yes
  • Execution Type = Automatic
  • Execution Process = Simple Execution Process
  • Deferred = Yes
  • Upon Payment Use = empty
  • Upon Withdrawal Use = Withdrawal Payment Account
  • Upon Reconciliation Use = empty

Let's review how to execute each of the steps listed above:

1. The first step is to create a GL Item to properly account the payroll payment.

  • The "GLitem debit acct" will be the one used while accounting the payroll payment.

2. The second step is to create the payroll payment in the Payment Out window.

  • It is possible to leave the field "Paying To" empty if the payroll payment is not just the payroll payment of an employee.
  • It is important to properly select the "Financial Account" to use as well as the "Payment Method" assigned to it which is properly configured.
  • Then payroll payment details can be added by using the proccess button "Add Details".
  • Once in that window the value "GL Items" needs to be selected in the field "Transaction Type". After that the "GL Item" previously created needs to be selected and the payroll payment amount needs to be entered in the field "Paid Out".
  • By pressing the button "Add" the payment can be "Processed".
  • The "Action regarding document" shown is just "Process Made Payment(s) and Withdrawal" because the checkbox "Automatic Withdrawal" is configured as "Yes" in the Payment Method.
  • Above action will make that once the payment is executed, the corresponding "Withdrawal" transaction is also be created in the Transaction tab of the financial account, see step 3.

3. The third step is to execute the payment as currently the payment status is "Awaiting Execution" because the check-box "Deferred" is set as "Yes" in the Payment Method.

  • In the Payment Out window a process button named "Execute Payment" is now shown.
  • At the end of the month the payment can be executed.
  • Once done Openbravo informs about the fact that the payment has been created in the financial account and it has been executed.
  • The payment status has changed to to "Withdrawn not Cleared".
  • At this point the payment out window shows "Post" button as "Post:Document Disabled" because the payment method configured has not been configured to allow posting at this stage.

4. The next step is to post the withdrawal in the Transaction tab of the financial account.

  • First thing to do here is to search the payment Nº by typing the payment number in the "Payment Nº" field.
  • If the Accounting Server Process is scheduled the "Post" button would have been turned into "Unpost", which means that the transaction has been posted by the accounting server process.
    The posting will look like:
Account Debit Credit
GL Item Debit 10.000,00 EUR
Upon Withdrawal Use the "Withdrawal Account" 10.000,00 EUR


5. The final step is to reconcile the withdrawal in the financial account.

  • Let's assume that the Financial Account used does not have any "Matching Algorithm" assigned in the field "Matching Algorithm".
    Therefore the reconciliation is a "Manual" process, in the sense of:
    • it is not possible to import and then match a "Bank Statement", therefore the process buttons "Import Statement" and "Match Statement" are not visible.
    • it is just possible to "Reconcile" the transactions which are not already set to "Cleared", by using the process button Reconcile which is then shown.
  • This button opens the "Reconciliation" window. This window allows to:
    • select the transactions to "Clear" or "Reconcile"
    • and then enter the corresponding "Ending Balance"

Example 5: Pre-payment against invoice

The objective of this example is to show how to register a prepayment against purchase invoice or sales invoice.

The steps to follow are:

  • to create an invoice
  • to create a payment against the invoice. The date of the payment must be prior the invoice date
  • to post the payment and the invoice

To get this example working the payment method assigned to the Financial Account to be used needs to have below configuration:

  • Payment IN Allowed/Payment Out Allowed = Yes
  • Automatic Receipt/Automatic Payment = No
  • Automatic Deposit/automatic Withdrawn = Yes
  • Execution Type = Manual
  • Upon Receipt Use = Deposited Payment Account
  • Upon Payment Use = Withdrawn Payment Account
  • Upon Deposit Use/Upon withdrawal Use = empty
  • Upon Reconciliation Use = empty

Let's review how to execute each of the steps listed above:

1. Create an invoice

Create an invoice and complete it.

2. Create a payment against the invoice

The payment date must be prior the accounting date of the invoice. This way, you can generate a pre-payment.

3. Post the payment

You can see that additional entry is generated (from Payable/receivable to Prepayments)
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