You are viewing an old version of this page. View the current version.

Compare with Current View Page History

Version 1 Next »

Steps below for the prepayment deposit made to Vendor.

StepStageEntryRemarks
1Order Created and made prepayment to vendorDr.Prepayment Account (Mapped)

Dimension Value for Dept, Supp, SO No. and Invoice No.= "PO". 

Deposit Entry = True



Cr.
Bank


2

Group Shipment Invoice Posted

Use deposit to offset AP

Dr.Account Payable

Apply Enty = Group Shipment Invoice

Dimension Value - select the actual invoice no.



Cr.
Prepayment Account (mapped)

Apply Entry = Deposit Entry

Dimension Value - select the actual invoice no.



Cr.
Bank(Used if prepayment is not enough to offset all invoice amount due)

Exceptional Case: Reverse



3

Go to the posted sales invoice, then select "Create Corrective Credit Memo" 

*Select Payment Terms and then Post

4

Create Purchase Credit Memo

Select Vendor, enter line details manually (Item, Qty, Amount, Dimension for Invoice No)

Select the Appl.-To Item Entry - select the ILE it related to the sales credit memo created by step 1

NOTE: Appl.-to Item Entry (Manual) only use if the negative inventory occurred for the item (it may due to the Sales Qty is more then Purchase Qty in the Group Shipment.)

5Un-apply entry for the deposit it applied for settle group shipment invoice (*applied in step 2)
6Go to General Leder Entry to find the entries of the Deposit made to vendor to reverse (entries for steps 1)
7Create new set of SO/PO/GS and redo the step 1 and 2 again

Important Note

(1) Un apply entry - if the entry you need to un apply has new invoice it has applied after the entry, you need to according to the sequence to un apply the entry. 

For example, the invoice have been applied.  If you need to un-apply INV23050023, the INV23060007 and INV23060001 is need to un-apply one by one in descending sequence before un-apply INV23050023.

INV23050020

INV23050023

INV23060001

INV23060007

(2) Exchange Difference

If the reverse case has exchange difference, user need to use general journal to reverse for the exchange difference.



  • No labels