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Permanent Prepayment - Refund
Posted: Tue Jun 26, 2007 6:32 am
by 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
Posted: Tue Jun 26, 2007 8:03 am
by hbabhu
Hi,
through action window......
use apply or unapply prepayment check box
then it will adjust u r prepayment
i thing now u clear
Posted: Tue Jun 26, 2007 10:37 am
by 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
Posted: Wed Jun 27, 2007 3:03 am
by vecha_anil
hi
i think we can't match standard invoice to Perminent Prepayment, we can only adjus to temprory prepayments only.
Anil
Posted: Wed Jun 27, 2007 5:07 am
by 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?
Posted: Wed Jun 27, 2007 8:29 am
by 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