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Prepayments

Efficiently create, approve, and apply prepayments to invoices directly within Stampli.

Stampli Prepayments
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How Stampli supports Prepayments

Stampli’s Prepayments feature allows Direct Pay users to easily manage their entire prepayment process directly within our platform. From creating, approving, and paying prepayment requests, to applying them to invoices in the vendor’s currency, Stampli seamlessly syncs real-time prepayment data with your ERP. Along with our existing capabilities for managing credits and discounts, Stampli prepayments enable AP teams to handle all adjustments to vendor payment amounts efficiently and accurately.

Note: This capability is only available for customers using Stampli Direct Pay and is currently exclusive to NetSuite. Expansion to all other ERPs is expected in Q3. Contact your Stampli representative for more details and updates on availability for your ERP.
The problems that AP teams face
Accounts payable teams often struggle with managing prepayments, credits, and discounts accurately when processing vendor payments. The lack of a centralized system makes it especially challenging to maintain real-time visibility into the details they need, requiring them to navigate multiple systems to gather payment information, perform manual calculations, and apply adjustments in their ERP. This fragmented process can lead to payment inaccuracies, overpayments, or even financial losses.
Stampli’s approach
Stampli differentiates itself by providing a user-friendly platform that seamlessly integrates real-time prepayment data with your ERP, eliminating the need to switch between systems, and ensuring data integrity. Our solution enhances payment accuracy by automatically applying available prepayments to linked invoices while simultaneously displaying all other available prepayments, credits, and discounts for each vendor. This streamlined approach provides a complete, real-time view of all amount due adjustments. By centralizing prepayment processes, Stampli increases AP team efficiency, reduces manual errors, and offers unprecedented visibility into payment adjustments and amounts due.

Key features

Create new prepayment requests
Easily initiate prepayment requests directly from the New Invoices tab using the “Prepayment” invoice type.
ERP-focused fields
When creating a prepayment request, only fields relevant to NetSuite prepayments are displayed, streamlining the process.
Flexible process controls
Route prepayment requests through customizable invoice and/or payment approval workflows.
Pay prepayments
Process prepayment transactions like standard invoices using Direct Pay.
Seamless ERP integrations
Automatically sync prepayment data between Stampli and your ERP system for consistent, accurate financial records.
Apply prepayment amounts to invoices
Automatically match and apply available prepayments to invoices for the same company, vendor, and currency.
Flexible adjustments
Easily adjust the specific amount of each prepayment applied to an invoice, up to the total amount due.
Prepayments with POs
Code prepayments to a purchase order during creation, and automatically apply that amount to invoices matched to the same PO.
Unified platform
Manage the entire prepayment process in the same familiar platform for consistent and efficient handling.
Detailed remittance breakdowns
Provide vendors with comprehensive remittance emails, including a complete breakdown of all prepayments, discounts, and/or credits being applied.
Multiple prepayment support

Apply multiple prepayments to a single invoice or partially apply prepayments across multiple invoices for accurate processing and reporting.

Currency management

Handle prepayments and invoices in multiple currencies, with automatic exchange rate application and adjustment capabilities.

Note: Feature availability may vary based on your ERP. Contact your Stampli representative for specific details about Prepayments functionality for your system.

Prepayments FAQ

No, the prepayments feature requires vendor data to be present in your ERP.

Stampli automatically links prepayments to invoices by PO and displays all available prepayments for invoices with the same company, vendor, and currency.

While you cannot change the total amount of a created prepayment, you can adjust the specific amount applied to each invoice as needed.

Prepayment data is synced in real-time between Stampli and NetSuite, ensuring that both systems always have the most up-to-date information.

Currently, the Prepayments feature is only available for Stampli customers using NetSuite as their ERP system, though we expect to support more ERPs soon. Check with your Stampli representative for more details.

Yes, Stampli allows you to apply multiple prepayments to a single invoice, as well as partially apply prepayments across multiple invoices for accurate processing and reporting.

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