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Hi Roger
Let us review the process and understand what happens.
Let us say that we take a full down payment of 100 USD from the customer.
You debit bank and credit customer using an alternative
reconciliation and a special G L indicator. (100 USD)
Subsequently you raise an invoice on the customer for 100 USD
You debit Customer and Credit Sales Revenue using the normal
reconciliation account (100 USD)
Then You do a Down payment clearing to transfer the amount in the
alternative reconciliation account to the normal reconciliation account.
As a last step , you do an account clearing to clear all open items in the
customer account.
The process is the same even if the down payment is for a part amount.
Regards
VidhyaDhar
| | | ---------------Original Message---------------
From: Roger Mou
Sent: Sunday, February 20, 2011 9:08 AM
Subject: Advance payment issues
Hi VidhyaDhar,
Is it mean we don't need a closing invoice for down payment?
Thanks & Regards
Roger |
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