The system allows you to apply the prepayment when an invoice has already been posted. This means that prepayment wasn’t settled with the vendor invoice. You might be in a situation when a prepayment wasn’t applied at the time of posting a vendor invoice. For reporting purposes in the vendor prepayments portion of the balance sheet statement, the vendor prepayment carrying amount should be calculated as a net amount of these two accounts. Please note that the vendor balance account specified in the prepayment invoice profile is used as a valuation account for the prepayment account. profile)Ĭr Vendor balance (vendor invoice profile)ĭr Vendor balance (vendor invoice profile) profile)ĭr Vendor balance (prepayment inv. Prepayment invoiceĬr Vendor balance (prepayment inv. The “Cr Vendor balance” entries are recorded as a negative amount, and the “Dr Vendor balance” as a positive amount. The “Vendor balance” entries are recorded in the vendor transaction (also known as module transactions). The summary of the module and ledger entries regarding prepayment invoices are shown in the table below. The “Accounts payable > Setup > Accounts payable parameters” menu item.
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