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Prepayment
Posted: Wed Jan 24, 2007 3:37 pm
by Arjunn
suppose we have a one time supplier and we had advance payment for rs 1000 and we received an invoice of rs 800.
1. how can we create invoice. made payment and the entries.
2. how we received back balance payment in apps
Cheers,
Arjun
Posted: Wed Jan 24, 2007 8:23 pm
by muzaffarnaim
<font color="blue">
*Enter standard invoice with the whole amount (i.e. 1000) and apply with the previously entered prepayment.
*Enter ?Credit Memo? invoice of negative amount (i.e. -200) and match the invoice with the standard invoice and send the supplier for refund.
*Pay 'Credit Memo' invoice with 'Refund' payment type, which is used to make a negative payment for a credit balance. Refund transactions will appear in the supplier transaction history and will be reflected in the supplier balance.
<b>PREPAYMENT</b>
Prepayment 1000 DR
Bank 1000 CR
<b>STANDARD INVOICE & PREPAYMENT ADJUSTMENT</b>
Charge Acc 1000 DR
Prepayment 1000 CR
<b>CREDIT MEMO</b>
Bank 200 DR
Charge Acc 200 CR
Regards
Muzaffar Naim
Oracle Consultant </font id="blue">
Posted: Thu Jan 25, 2007 3:28 am
by Arjunn
Thanks for ur reply