How to transfer prepayment

Sometimes clients want you to transfer prepayments between invoices in Projector. For example, if they have left over money on a PO they want to apply somewhere else. Or, the client may have no idea you need to roll over a prepayment. You may create new projects each year for a client and want to rollover a balance from the old project to the new project.

When you create an invoice, it is associated with a certain scope. Client, PO, Engagement, or Project. The balance is available only for that scope. For example, a project-scoped invoice's prepayment is only available to other invoices for the same project. An engagement-scoped invoice can be used for any engagement-scoped invoice under that engagement.

This help document explains methods to transfer a prepayment.

Solution 1

Use two milestones to transfer the remaining balance. We'll use a PO for the sake of clarity.

Create a new, negative milestone for the prepayment amount against the original PO.
Issue that invoice. Don't send to the client.
Create a new, positive milestone for the prepayment amount against the new PO. In the milestone description list where the balance came from.
Issue that invoice. Don't send to the client.

You now have a new prepayment amount on the new PO.

Solution 2

Temporarily invoice at a higher level to consume the prepayment.

Set the engagement, or engagements, to invoice at a higher level. For example, change it from Project to Engagement. Or PO to Client.
Create a new invoice. The prepayment is available on this new invoice.
Issue invoices until the prepayment is consumed
Change the invoice level back down to the lower level.

Keep in mind that the higher level invoice will get time/cost/milestone from all available items in that category. So if you switched to Client level invoicing you could potentially sweep in time/cost/milestone from all of that client's projects. Make sure you only bill what you are supposed to until the prepayment is consumed.

Solution 3

Void and reissue.

Void the original prepayment invoice
Adjust the milestone amount to reflect the actual prepayment amount that was used
Reissue the original invoice
Make a new milestone for the prepayment balance on a new invoice