Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Is there a better way to control customer advance payment?
02-03-2012, 04:48 PM
Post: #1
Is there a better way to control customer advance payment?
Dear all:

I've received an inquiry about how to deal with customer's advanced payment. I believe the usually way is to post the amount directly to account receivalbe.

But the user hope to seperate it from normal payments.

I think the work around maybe setup a special 'bank' account to post the receipt to it?

Any comments are highly appreciated!

Best regards!

Exson
Find all posts by this user
Quote this message in a reply
02-03-2012, 08:03 PM
Post: #2
RE: Is there a better way to control customer advance payment?
You bank it against the customer so it shows on their account as a prepayment? Obviously you cannot allocate it - but there is certainly nothing to stop you recording the advance payment against the customer's account.

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
Visit this user's website Find all posts by this user
Quote this message in a reply
02-04-2012, 12:13 AM
Post: #3
RE: Is there a better way to control customer advance payment?
Hi, Phil,

Thanks for your prompt reply.

I just think we do the receipt as normal but choose a dedicated bank account to receive those amount. I cannot find any reason that the receipt can not be allocated. Is there any misunderstanding?

BTW, can we adjust the scripts to let the debtorsact selectable then users can choose to post the amount into receivable account or pre-paid account?

Best regards!

Exson

(02-03-2012 08:03 PM)phil Wrote:  You bank it against the customer so it shows on their account as a prepayment? Obviously you cannot allocate it - but there is certainly nothing to stop you recording the advance payment against the customer's account.
Find all posts by this user
Quote this message in a reply
02-04-2012, 06:10 AM
Post: #4
RE: Is there a better way to control customer advance payment?
I was assuming the payment is received from the customer before any invoice has been done. If there is no invoice then the customer receipt should be left unallocated.

I don't advise changing the script to have several debtors control accounts - although it could be done.

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
Visit this user's website Find all posts by this user
Quote this message in a reply
02-10-2012, 03:01 PM
Post: #5
RE: Is there a better way to control customer advance payment?
I think phil is right, just receive the payment and there will be a CR balance on the customer. When the invoice comes in, then allocate it.
Bank accounts I think got nothing to do with the record issue and its up to you depending how the payment was received. If they pass you cash, you post it into the cash account, if they write a cheque, then you post it into your chequeing account.
Did I understand that right?
Find all posts by this user
Quote this message in a reply
Post Reply 


Forum Jump:


User(s) browsing this thread: 1 Guest(s)