Prepayments
This applies to sales and purchases.
I think Xero product ideas has been as effective as screaming into the void ... however that did not work so I will try Xero Product ideas.
- Every time I have seen a Xero company use Prepayments it has been a ... mess.
- Users have prepayments going to various accounts, some with GST and some without and there are transactions in the Prepayments accounts that were not processed as Prepayments.
- You end up with prepayments scattered over the balance sheet, amounts in Prepayments that are not prepayments, and some have GST and some not. Reconciling prepayments reports to the ledger is nigh on impossible.
- My suggestion. One account for customer prepayments and one for supplier prepayments that can only be accessed by the prepayments option in bank reconciliation screen and cannot be posted to any other way. And enforce a GST or no GST in these accounts.
- I am going to scream into the void now.
Alex Scobie
shared this idea
Hi Alex, appreciate your feedback here and please know this is valued and does get attention from our teams. You'll see from the forums that there are many ideas for improvement that our customers feel could add value so the forums here help us understand and advocate for the idea that our community feels valuable.
I want to make sure I'm interpreting your idea here correctly - Rather than a change to the prepayment transactions it sounds like you'd like to restrict posting to the Account prepayments are posted to in the Chart of Accounts and would like a separate account that purchase v sales prepayment transactions are automatically posted to. Would this be right? Please do let me know if I'm misunderstanding.
