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
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| 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. Appl.-to Item Entry (Manual) will be auto-filled if Appl.-to Item Entry is entered. NOTE: Only entered Appl.-to Item Entry (Manual) 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)
Select Posting Date & close
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| 6 | Go to General Leder Entry to find the entries of the Deposit made to vendor to reverse (entries for Step 1)
System will show all related entries: G/L Entries booked, Vendor Ledger Entries booked & Bank Account Ledger Entry (if used bank to offset the Invoice No. in Step 2) | ||||
| 7 | For a new set of SO/PO/GS and need reverse, redo the Step 1 & 2 | ||||
Important Note (1) Unapply entry - Users need to refer to the sequence to unapply the entry. (2) Exchange Difference If the reverse case has exchange difference, user need to use General Journal to reverse for the exchange difference. | |||||
