Making Pre-Payments

I want to make an advance payment on a bill!

Goldenseal accounting software allows you to make payments on account. It will subtract from any future bills that you owe to that vendor.

NOTE-- If you are paying a vendor for expenses, don't use a payment on account. Instead, enter a Material Purchase with Check as the payment method, and Goldenseal will automatically create the bank transaction to pay it.

Follow these steps:

1. Choose Checking Transactions from the Bank menu, and choose an account from the submenu.
2. Click the New button.
3. Enter Material into the Pay To field.
4. Enter the supplier in the Account field.
5. Enter the amount of the pre-payment.
6. Enter Paid On Account in the Transaction Paid field.
7. Press the Enter key to save the transaction.

The next time you use the Pay Bills command, Goldenseal will deduct the prepayment from the amount you owe.

Click here to return to expense accounting topics.

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