For Prepayment can we create a Debit Memo

[oracleapps1983]

Dear All

I am having small doubt. We made Pre-Payment to Supplier, now i can not carry business with him because some problem. He agreed to refund and also he paid with interest.

Here, can i create Debit memo for refund and for interest what i have to do.

Regards
Oracleapps

[oteixeira]

Hello.
You can enter a Standard invoice and use a dummy account on the distribution. Apply the prepayment to the invoice. Now both Prepayment and Liability account for this operation are balanced.
Now you should enter a Credit Memo using the same dummy account.
Now also the dummy account is balanced. To record the refund from the supplier pay the Credit memo.

Octavio

[niletra]

HI

SUPPOSE 12,000/- PrePayment...........given to Supplier......


10,000/- You Adjusted and 2,000/- given by u from SUPPLIER

IN THIS CASE

12,000/- Pre Payment ............

10,000/- Stan Invoice Apply to Prepyment...........In Distributions Enter Normal Accounts

2,000/- Stand Invoice Apply to PrePayment Ok
In Dis Enter Dummy Account(Contra).......


2,000 Credit Memo Enter Dummy Account(Contra).......


and Take The Refund for that Credit memo


Thanks

Bye
Niletra Desai

[Rizwan.Mumtaz]

Hello Niletra

[Take the refund for that Credit memo]

Can u please tell the steps for that.
thanks

[hiszaki]

Hi Rizwan

Go to payment form, choose the refund type (not manual or quick) then enter the data supplier name, num, date, amount (with negative sign) then chose the credit memo for this supplier then save.

Thanks
Hisham