Updating prepayments

At a user-defined time in the cycle, you can post note prepayment amounts to the general ledger. Use this procedure to update general ledger prepayments.

Note: You must create general ledger prepayment records before you can create general ledger entries for accrued estimated sales on Accrual Closing (FR190).
  1. Create and release prepayment records on Note Based Prepayment (FR15.5).
  2. Run Prepayment Update (FR195) to create general ledger transaction records from released prepayment records (note-based charges), to debit the cash account and credit the note asset account.