Hi Friends
Can you please outline the steps to create partial payments in Payables
Your help will be highly appreciated
Thanks in advance
Sagar
AP - Partial Payments
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- Posts: 147
- Joined: Thu Sep 06, 2007 9:13 am
- Location: India
Hi Vidya,
You have to explain in which scenario i.e Normal Payments or Prepayments.
All the payment dates except prepayments will be deceided basing on the Payment Terms. In your payment terms eg. Rs. 100/- have to pay to supplier in two instalments i.e 60% in First 5 days and remaining 40%after 20 days. In this case payment has divided into 2spells. If u paid First 60% and remaining 40% will be treated as partial payment due or 60% amount has partially paid out of 100/-.
In prepayment concept u have raised prepayment 500/- and paid to supplier. Later on You have received invoice for an amount 400/-. Now u will adjust prepayment against the invoice amount of Rs. 400/-. this adjustment will be called as Prepayment partially applied as still Prepayment 100/- is available.
if i am wrong please correct me.
thanks and regards.
You have to explain in which scenario i.e Normal Payments or Prepayments.
All the payment dates except prepayments will be deceided basing on the Payment Terms. In your payment terms eg. Rs. 100/- have to pay to supplier in two instalments i.e 60% in First 5 days and remaining 40%after 20 days. In this case payment has divided into 2spells. If u paid First 60% and remaining 40% will be treated as partial payment due or 60% amount has partially paid out of 100/-.
In prepayment concept u have raised prepayment 500/- and paid to supplier. Later on You have received invoice for an amount 400/-. Now u will adjust prepayment against the invoice amount of Rs. 400/-. this adjustment will be called as Prepayment partially applied as still Prepayment 100/- is available.
if i am wrong please correct me.
thanks and regards.
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