Case Scenario
Customer A settled the invoice for Construction Work at Mar 2022 (e.g. Invoice C1001)
Customer A confirmed the final contract for the same project and would like to combine the cost of Construction Work into the new invoice at Apr 2022
How to handle the paid amount and the new outstanding for the Invoice it issued at Apr 2022 (e.g. Invoice D1029)
Noted that the Opening for Bank account have been counted the amount.
Steps for handle the case
Step 1 - Create General Journal for book the Entry for Paid in Advance
(Note: n the case about, the paid amount for invoice C001 is paid in advance for invoice D1929, therefore correct the Opening Balance)
Step 2 - Post the Sales Invoice for D1029
Step 3 - Open the GL Account Card for 21080 and set OTHER in Gen. Prod Posting Group
Step 4 - Create Sales Credit Memo for use for apply the Paid in Advance Amount
1) Please set Work Date to generate the Credit Memo number for the back date transaction
2) Please remember to enter the Project Code
3) Line - Credit Memo line use the Deposit / Received in advance account
4) Post the Credit Memo
Step 5 - Apply the Customer Ledger Entry
1) Go to customer ledger entries select the Credit Memo
2) Select Apply Entries action
3) In Apply Customer Entries page, select Process => Set Applies-to ID
4) Click Post Application. Click OK in Post Application page.
