Click on the related link that appears and choose “Edit List” to display the Sales and Purchase Prepayments Account columns.
From each combination of Business Posting Group and General Product Posting Group codes, assign the appropriate prepayment General Ledger accounts that correspond to sales and purchase transactions.
Setting up the prepayment accounts correctly is essential as it ensures that prepayment transactions are accurately recorded, classified, and reflected in your financial statements.
Step 2: Set Up Number Series for Prepayment Documents
To streamline the documentation of prepayment transactions, it is essential to establish number series for prepayment invoices and credit memos. Number series help in organizing and tracking prepayment documents effectively. Here’s how to set up number series for prepayment documents in Business Central:
For sales prepayment documents, select the search icon in Business Central and enter “Sales & Receivables Setup.” Choose the related link that appears.