Get Started: Step-by-Step Guide to Setting Up a Prepayment
Prepayments are advance payments that can occur in two different situations:
The agency advances money to the owner → that amount is deducted from the total amount owed to them.
The owner advances money to the agency to cover an expense → that amount is added to the balance owed to them.
In both cases, it's essential to include these transactions when preparing the settlement.
Benefits
Allows for clear accounting control, balancing expenses incurred with the owner's advance payments.
How to set up a prepayment
Log in to VRMS and choose one of these paths:
a)Owners → Expense and Prepayment Control → Prepayments → New
b)Bookings → desired booking record → Actions → New prepayment(this option automatically links the payment to the booking)Fill in the "General Information" section:
Owner's name (select from the dropdown list)
Associated property (also from dropdown, automatically assigned if started from the booking)
Description (such as repair, advance, etc.)
Complete the "Charge Details / Amounts" section:
Amount (excluding taxes)
VAT (if applicable, select the appropriate rate)
"Made by": indicate whether the agency is advancing to the owner or vice versa
Charge date: determines in which settlement it will appear
Payment method: select the payment method
"Paid" checkbox (optional): check if the payment has already been made
(Optional) In "Advanced Configuration" you can enable withholding and specify the percentage.
Review the information and click "Save".
Including in the settlement
Prepayments appear in the settlement preview according to the charge date. You can uncheck the box next to each item to exclude it from that settlement; it will remain pending for future settlements.
Helpful tip
Always check the charge date before saving.
Keep a specific record of owner advances.
Use clear and descriptive descriptions to avoid confusion.
Practical examples
Advance made by the agency (company → owner)
If the agency advances €100, that €100 will be deducted from the amount owed to the owner.
Advance made by the owner (owner → company)
If the owner provides €200 for a repair, that €200 will be added to what is settled with them later.
Frequently Asked Questions
What is a prepayment in Avantio and how does it affect the settlement?
What is a prepayment in Avantio and how does it affect the settlement?
It's an advance between the agency and the owner that is either deducted from or added to the final balance in the settlement, depending on who made it.
Where can I create a prepayment in the system?
Where can I create a prepayment in the system?
You can create it from Owners → Prepayment Control or from a booking record (option "New prepayment").
Can a prepayment be excluded from a settlement?
Can a prepayment be excluded from a settlement?
Yes, in the settlement preview you can uncheck the item to move it to the next settlement.
What happens if I enable withholding on a prepayment?
What happens if I enable withholding on a prepayment?
You can specify an additional withholding percentage that will be deducted from the amount of the payment made.