If you are using the AP to G/L Reconcile report each month and you begin using Business Central’s prepayment functionality, you may have noticed something. Prepayment amounts remaining to be deducted are not included in this report. So, how do you reconcile your Vendor Prepayment G/L account to your Purchase Lines?
Before I share the “report” I recommend, just as for any other control account, or general ledger account assigned to a posting group or setup, the account assigned for vendor prepayments should be disabled from Direct Posting. There should be no reason this account should be selected directly in any transaction. And, if direct posting is disallowed, there should also be no reason the balance in the G/L account would not reconcile to the Prepmt Amt to Deduct amount on the purchase order lines.
However, if you or someone in management still requires you to reconcile your vendor prepayments account to open purchase orders monthly, this is the report for you.
- Start by using Profile Customization to add the fields we need for visibility and reporting. The fields are not available to add using Personalization.
- To the lines on the Purchase Order, add prepayment related fields.
- To the Purchase Lines list page, add prepayment related field. At a minimum add Prepayment Amount, and Prepmt Amt to Deduct Excl. Tax.
- Use Analysis Mode from Purchase Line page to create Prepmt Amt Reconciliation using at a minimum the Columns, Row Groups, Values and Analysis Filters shown in the illustration below.
- The sum of the Prepmt. Amt. to Deduct column should reconcile with the G/L Account assigned to prepayments in posting group setup. Similar to the AP to G/L Reconcile” report, this reporting is based on Purchase Lines and cannot be run retroactively.
In all of my years working with prepayments, I never had a request a report for a report like this until recently. Just because no one asked me, doesn’t mean there aren’t others out there looking for this same information in this same way for whatever the purpose. I think this information is good to know. Maybe you will find this analysis view for reconciling your vendor prepayment G/L account to “unused” prepayments helpful and the report you never knew you needed.
