Vendor Pre-Payment Journal (report)
The Vendor Pre-Payment Journal report shows payment discount and tolerance information for payment journals.
Note
The report shows payment discounts incorrectly if multiple credit memos were used in a payment application. In this case, the payment discounts for the extra credit memos show as unapplied amounts.
Use cases
Procurement officers use the report to:
- Review prepayment journals to ensure that all payment information, including discounts and tolerances, is accurate and complete before creating payment files and posting the journal.
- Identify potential issues or discrepancies in the payment process and proactively address them.
- Get data to prepare payment reports or dashboards for internal or external stakeholders.
Accounts payable professionals use the report to:
- Reconcile prepayment journals against vendor subledgers and ensure that all outstanding balances are accurate and complete.
- Identify discrepancies or errors in payment information and investigate them.
- Get data to prepare financial statements such as income statements or balance sheets.
Financial analysts use the report to:
- Analyze payment information, such as discounts and tolerances, to identify areas to save cost or generate revenue.
- Get data to prepare financial reports such as income statements or balance sheets for internal or external stakeholders.
- Monitor payment performance and identify potential risks to financial performance.
Try the report
Try the report here: Vendor Pre-Payment Journal
Tip
If you hold down the CTRL key while you select the report link, the report opens on a new browser tab. In this way, you can stay on the current page while you explore the report on the other browser tab.
See also
Accounts receivable report overview
Key finance report overview
Ad hoc analysis on finance data
Financial analytics overview