Permanent Prepayment - Refund

[amar_babu]

Hi,

I have raised a Permanent Prepayment, validated and accounted it also. As this is not available to adjust against the Standard Invoices, please explain how to record a refund and apply against the prepayment.

Could any one plz help me on the same.

Regards,
Amar

[hbabhu]

Hi,

through action window......

use apply or unapply prepayment check box

then it will adjust u r prepayment

i thing now u clear

[byswamy]

hi

u can not apply directly permanent prepayment against invoice.
u can have option convert in from permanent to temporary prepayment .
then u can apply .
In prepayment invoice, u can change <b>permanent to temporary.</b>
If u have any doubt send me a mail

[vecha_anil]

hi

i think we can't match standard invoice to Perminent Prepayment, we can only adjus to temprory prepayments only.

Anil

[hbabhu]

Hi Anil,

Prepayment is nothing but advance payment to supplier, this type of prepayment we can adjust in the invoice later

There are 2 types are available in AP
Temporary and permanent prepayment

You can change from temporary to permanent and visa versa.

But if u applied some amount in temporary u cannot change to per meant


Hope my reply will help you?

[Upendra]

Dear Friends!

Accounting a refund against permanent prepayment is not an easy task.

Please find the work around for this activity

Step 1 : Change the status of Permanent Prepayment to "Temporary Prepayment"

Step 2: Account a dummy Invoice against the Prepayment.

Step 3: Account a Debit Note against the Dummy Invoice

Step 4: Accept the refund against the "Debit Note"

This is the work around I observed in my part of job. If any knows any other easy work arounds, please post it to ERPSTUFF.

It will be useful to everyone

Thanks

Upendra DOnepudi