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Hi VidhyaDhar,
You are right, if you read my earlier mail, I have suggested a Debit to Bank/Bank clearing account and not a credit, fyi.
39 Vendor with Special GL Indicator(A)
40 Bank A/c
Thanks & regards,
Sekhar
| | | ---------------Original Message---------------
From: VidhyaDhar
Sent: Monday, March 14, 2011 12:07 PM
Subject: Which t-code is better to use to post a credit note on down payment?
Am afraid that is not right...Please correct me if I am wrong.
A down payment to vendor has already been made *crediting* bank
account. *Another
credit to Bank or a Bank clearing account* is against basic the concept of
prudent accounting and must be avoided at any cost . In fact, an incoming
payment from vendor is the best option to resort to ( instead of a credit
note ) and such incoming payment should be* debited* *( not credited )* to
bank account and by crediting the vendor (impacting the normal
reconciliation account for payables). However, an unadjusted initial debit
in the vendor account ( in the alternative reconciliation account for
payables ) needs to be transferred by way of down payment clearing so that
both the credit and debit in the vendor's account happen in the normal
reconciliation account so as to facilitate a subsequent account clearing.
This is the easiest option that I can think of.
If the vendor is regular and the account has other liabilities for
settlement, then a down payment clearing followed by a possible account
clearing against a possible vendor liability could be the next best option
that I can think of.
Regards
VidhyaDhar |
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