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2. Process for Vendor deposit.
*All the transaction are required Dimension Value for Invoice No.
| Step | Description |
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| Stage 1 - Payment made to Vendor for Deposit | |
| 1 | Use Payment Journal to book the entry for payment made to Vendor for deposit payment t *tick the "Deposit Entry" for the entry for Vendor. Note: the payment journal for record the payment made to vendor from bank account |
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| 2 | After Post the payment journal => General Ledger Entry
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=> Vendor Ledger Entry
Note: Check box "Deposit Entry" for indicate the Vendor Ledger Entry is for deposit / Check box "Open" for indicate the entry is not applied for related payment yet. |
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| Stage 2 - Use the Deposit for offset the Account Payable it generated from posted purchases invoice | |
| 3 | To offset Vendor invoice with the deposit paid Use General Journal to book the double entry for offset the Vendor invoice by deposit. Entry 1 - Vendor ledger Entry it recorded is "Deposit Entry" and use for offset the Vendor Invoice. - Select Vendor and then click on the field named "Applies-to Doc. No"... |
then enter the offset amount into the field named "Appln./ Amount to Apply" (for example, the deposit 10,000 has paid to the vendor, use 200 to offset the invoice.) **IMPORTANT NOTE - DO NOT manually input amount on the journal line. ALWAYS input on Apply Vendor Entries page and let system carry the amount to journal line for you. |
Entry 2 - Vendor ledger Entry it recorded the AP for the Vendor Invoice - Select Vendor and then click on the field named "Applies-to Doc. No"... - In Apply Vendor Entries page, select the Vendor Invoice (e.g. PV19070001) The double entry sample as below. |
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| 5 | G/L entries after posted General Journal for Deposit Offset ** System will auto create Exchange Difference if the “Deposit” and “Invoice” entry with exchange difference |
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Vendor Ledger Entry after posted General Journal for Deposit Offset **if apply the deposit entry partially, the remaining amount to be shows the balance.
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| Exceptional Case - Unapply the Applied Entry | |
| 1 | 1.1 Go to Vendor Ledger Entries 1.2 select the entry it intended to unapply 1.3 click Unapply Entries button
1.4 System will show all related entries for unapply 1.5 review the entries it expected to unapply 1.6 click Unapply button for confirm unapply
1.7 Click to confirm Reverse and input the reversing entries's posting date
1.8 After unapply, go to general ledger entry to reverse the Entries
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| Exceptional Case -To transfer deposit paid to another vendor | |
| 1 | 1.1 Use General Journal to input double entry Entry 1 - select the Vendor for transfer the deposit from and then select the vendor ledger entry for deposit in Applies-to Doc. no. Enter 2 - select the Vendor for transfer the deposit to and then enter the amount and click Deposit Entry check box
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