Is there a method for recording prepayments without affecting the customer ledger (more than once)? A prepayment to a deposits account (made through Invoice data entry)will (after changing the posting groups on the header): Dr. AR Cr. Deposits (liability account instead of income) The Cash Receipt will: Dr. Cash Cr. AR The customer ledger now has a -0- balance When the services are performed and we invoice (through invoice data entry for that customer) Dr. Deposits Cr. Income Although the GL is correct, the Customer Ledger will show a balance. Is there a “better” method for recording prepayments in which an invoice is required to be issued first, prior to the prepayment and a second invoice after the services are performed ? Thank you
If I understand you correctly, you need a proforma invoice in the first instance - which Attain does not have. Obviously we can’t post two invoices against one receipt, no matter which way you juggle the transactions. Depending on when you wish to delare the income (at time of pre-payment or after delivery), then this will determine how best to deal with it. In the past I have seen a new document added to the workflow that can be printed from the order/invoice but without the order/invoice posting. Something that acts like a test report that is redesigned as a pro-forma invoice.
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I have tried to solve this in the following manner: Since it is a prePayment, enter as a payment in the Cash Receipts Journal. I have set the Customer Posting group for prepayment customers to point to the deposit liability account. So, in the Cash Receipts Journal: Dr. Cash 500 Cr. Customer (deposit liability) 500 Customer now has a credit balance of 500. Then post an invoice. Dr. Customer (relieve liability) 200 Cr. Sales account 200 Customer now has a credit balance of 300. Sales is 200. Deposit liability is 300. I don’t know if there is a way of manipulating the customer posting group on the fly - that would be nice. Does anyone know how?