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author's profile photo Former Member
Former Member

Tracking Downpayment in Purchase Order

Posted on May 22, 2007 at 12:33 AM 117 Views

Hi,

Are there any ways to track downpayment(via FI) made in advance in the purchase order that raise later?

Thanks,

CW

FIN (Finance)
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    author's profile photo Former Member
    Former Member
    Posted on May 22, 2007 at 03:45 PM

    CW,

    Down payment requests and down payments are special general ledger transactions. These transactions are not posted to the G/L account mentioned in the customer master record but to an alternative G/L account.

    Alternative reconciliation accounts for posting the down payment requests and the down payments.

    The process flow is

    1. Down payment request ( F-37 - not part of double entry book keeping)

    2. Down payment ( F-29 - Dr Bank a/c(customer incoming payments) - Cr Alternative reconciliation account)

    3. Invoice (FB70) - system outputs the message saying a down payment exists

    4. Down payment clearing ( F-39)

    5. Payment and clearing ( F-39)

    However note that unlike partial payments, down payments are reported separately in the balance sheet.

    Hope that helps - Let me know if you need any help.

    Thanks,

    Nandita

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    • Former Member Former Member
      May 22, 2007 at 05:15 PM

      We defined a separate field status group for the downpayment alternative reconciliation account that had the PO fields set to optional (the one we use for normal reconciliation accounts has these fields suppressed).

      By doing this, when you enter the down-payment request in F-47, the PO fields (PO number, item and account assignment) are available for optional input on the item screen.

      When entering the invoice in MIRO, the system issues an information message (M8 318) that the PO has open dopwnpayments. This is in addition to the general message that the vendor has open downpayments (F5 096)

      The other benefit of doing this is that the downpayment documents then appear in the PO history you you can easily see the open downpayment value on the PO item.

      Assign Points if helpful.

      Regards