Purchase Order Deposits

WorkGuru provides a mechanise to record deposits paid to a supplier before you receive either the items or services or an invoice on the purchase order. WorkGuru will send through a purchase order deposit so you can reconcile the payment fully in your integrated accounting platform (Xero, MYOB etc) as you may not have the supplier invoice as yet. When the purchase order is received and costed correctly as per the normal process, WorkGuru will send through to accounting integration the final bill and a credit note to apply the deposit amount(s) to the bill, leaving just the outstanding amount to reconcile. As the actual purchase order/draft bill is sent through at the end of the workflow, it handles any changes that are made to the final purchase order.

Pre Requisites - Accounting

Before setting up deposits in WorkGuru, please make sure you having the following set up in your chart of accounts in the accounting integration:

• A current asset account for purchase deposits.

Pre Requisites - WorkGuru

1. Setup a deposit payment type using the current asset account setup for purchase deposits.
2. An approved purchase order.  Must not have a received or invoice dates or invoice number applied.

Add a Deposit to a Purchase Order

From the approved purchase order's detail page, click Add Payment. Make sure the order has no received or invoice dates applied.

Add the required deposit Amount and select the purchase deposit payment type from the Payment Method.  Click Submit to add the payment.

The deposit will be applied the purchase order, which remains an approved, un-received, un-costed order. Apply additional deposit payments via the same process if required.

The deposit payment is queued to send to your accounting integration. Send the deposit to reconcile your deposit payment by clicking Send Purchase Orders from the accounting integration dashboard (Accounting -> Xero/MYOB/Quickbooks).

A draft bill containing the deposit amount will be sent through to the accounting integration to be approved, and reconciled against your deposit payment to the supplier. Note the bill reference is the workguru order number and the date the deposit has been applied.

When you receive the products ordered and/or the supplier invoice, fully receive and cost the purchase order as per normal.   The final invoiced purchase order will be queued ready to import to accounting integration. Send the order through to reconcile the remaining invoice balance by clicking Send Purchase Orders from the accounting integration's dashboard (Accounting -> Xero/MYOB/Quickbooks).

As WorkGuru knows the finalised purchase order has a deposit payment applied, it will be sent to the accounting integration as an approved bill.    

WorkGuru will automatically create a credit note to journal the deposit value from the asset account and apply it to the bill leaving the correct amount remaining to reconcile.