Progress Payments are payments that you make in advance, before taking delivery of goods or receiving services. The goods often have a long lead time, so their progress payments require management through their lifecycle.
Abel’s Supplier Progress Payments are part of the Supplier Purchasing workflow. They are held in the Supplier Prepayments Sub-Ledger (not in the Creditors Ledger).
This diagram shows the Supplier Workflow with progress payments:
Abel’s Supplier Progress Payments workflow works in parallel with the normal Supplier Purchasing workflow:
- Create a Supplier Purchase Order, including progress payments.
- Generate proforma invoices for progress payments that are due.
- Abel records proforma invoices as open items on the supplier prepayments ledger.
- Create a Supplier Payment and select the Proforma Invoice.
- The Supplier Payment closes the proforma invoice open item on the supplier prepayments ledger.
- The final supplier invoice automatically includes and deducts progress payments giving the balance owing.
- You can view the status progress payments in the Supplier Progress Payments screen.
Example: Purchase Order with two progress payments. Color coding shows different stages of the lifecycle:
Abel’s Supplier Progress Payment Enquiry shows a “lifecycle” view of progress payments.
