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Paid Deposit - received invoice for remaining product - how to process

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1 comment

  • David Fournier

    Good afternoon Coleen Burgess,

    Thank you for your query.

    Our recommendation is:

    • Set up a rate that is coded directly to the Deposit account that was used to pay the original deposit (similar to how Use Tax, Prepaid, etc. rates are configured)
    • When receiving, add the rate as a negative value

    This will:

    • reduce the payable owed to the supplier by the amount of the deposit
    • post the full value of the receiving to the expense account
    • balance/offset the original deposit amount on the balance sheet when the A/P export is posted to the finance system

    We have received this query from other customers recently also & will be publishing an article soon-- I will update this post when it is available.

    Please let us know if the above helps or if you have any follow-up questions on this topic.





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