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author's profile photo Former Member
Former Member

How to transfer group debtors advances to income

Dear all

I have an issue that we collect advances from customers and after that we deliver the goods. Some times customers may not come forward the finished goods. We have to keep the customer advances with us for certain time there after we can treat it as income. Is there any possibility to transfer at a time transfer all the customer advances to income

Because I have to post individually not possible to check each customer.

Please help

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  • author's profile photo Former Member
    Former Member
    Posted on Aug 15, 2016 at 08:22 AM

    Dear Srinivas,

    I have one possible way to transfer the your customer advance amounts to Revenue account. Please find the below steps.

    1. Create the "Customer Down Payment" through F-29.

    2. Create Invoice against the down payment in FB70 or F-22. with Customer Debit and Revenue account Credit.

    3. Clear the Customer down payment through F-39.

    Please process and do the test cases from your side and let me know.

    Thanks.

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