prepayment

A prepayment is a payment record that is not yet associated with an invoice. In the Real Property domain, if a business contact sends an overpayment (that is, the Amount Paid is greater than the invoice Amount Balance), you can apply the overpayment to a different invoice, or you can designate the amount overpaid as a prepayment that can be applied to future invoices for that business contact. A prepayment is given a Payment Code to uniquely identify it, a Contact ID to identify the contact or business sending the payment, and an Amount - Income that is the amount overpaid.