Steps below for the prepayment deposit made to Vendor.
| Step | Stage | Entry | Remarks | ||
|---|---|---|---|---|---|
| 1 | Order Created and made prepayment to vendor | Dr. | 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.) | ||||
| 5 | Un-apply entry for the deposit it applied for settle group shipment invoice (*applied in step 2) | ||||
| 6 | Go to General Leder Entry to find the entries of the Deposit made to vendor to reverse (entries for steps 1) | ||||
| 7 | Create 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. | |||||