Hi,
I have created a Deposit (commitment) Invoice to record a deposit received from a customer. The receipt was also created and applied to the Deposit Invoice.
The entries were:
Receivable Dr. 1000
To Customer Deposita/c 1000
Bank a/c Dr. 1000
To Receivable a/c 1000
Now the customer wants his deposit back. How do we make a refund to the customer?
Refund against a Deposit Invoice
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- Posts: 194
- Joined: Tue May 15, 2007 7:45 am
- Location: United Arab Emirates
Hi
Create the same Customer as Supplier in Payables and Link the Customer Number and Tax Registration Number.
Then create an Invoice Debiting
Customer Deposit A/c Dr
Liability A/c Cr
While making Payment
Liability A/c Dr
Bank A/c Cr
Run the Supplier Customer Netting report to ensure the amounts are cleared in Payables Module
Hope this helps
Regards
Sivakumar
Create the same Customer as Supplier in Payables and Link the Customer Number and Tax Registration Number.
Then create an Invoice Debiting
Customer Deposit A/c Dr
Liability A/c Cr
While making Payment
Liability A/c Dr
Bank A/c Cr
Run the Supplier Customer Netting report to ensure the amounts are cleared in Payables Module
Hope this helps
Regards
Sivakumar
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