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Advance payment in SBO

May 01, 2017 at 09:37 AM

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Hi Experts,

I want to create the AR Down payment Invoice for both security deposit and advance payment from customers. Please let me know how can i have a selection of accounts while AR Downpayment Invoice posting.

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1 Answer

Jitin Chawla
May 03, 2017 at 06:10 AM
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Hi,

Have you checked the option of creating a G/L Account for Security Deposit and then creating the AR DownPayment Invoice?

Security Deposit will be kept for a period of time and will not be adjusted against any outstanding balances of the customer, till the time exceptionally required.

If not above, please explain your scenario with a detailed example.

Regards,

Jitin

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Thanks for your reply jitin.

you understood correct.

Security Deposit will be kept for a period of time and will not be adjusted against any outstanding balances of the customer, till the time exceptionally required.

Let me explain my scenario.

My client receives the security deposit from the customer as well as the advance payment. So In CoA, I have two cash accounts called 'Security Deposit' (in liability) and 'Advance payment from customer' (in Asset).

I want to use AR Downpayment Invoice for both advance payment as well as security deposit.

For security deposit because they issue the invoice to the customer for security deposit and reverse it back when the period closed. Security Deposit will not be shown in the aging of the customer when customer pays the deposit amount otherwise it displays.

If you can suggest me the option to maintain the security deposits as Invoiced, received/collected, reverse and balance. Please suggest me the workaround.

If i have to use AR Downpayment invoice for both advance and security deposit, how can i have a selection of accounts (displaying only one account) in the same?

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