Incoming payment with customer unknown

[Former Member]

Hi

How do I post incoming payments in AR where customer is unknown? Usually my companywill call the bank to inquire about incoming deposits. Depositor information is usually given after 2-3 days. How do I record the incoming payment if customer is stillo unknown during day1?

Thank you,

[Former Member]

Hi

after to talking to the tax people, apparently it is not advisable for us to use "transit" or clearing accounts for A/R since it has caused some tax issues in the past.

Any other suggestions on how to record an incoming payment, where customer info is unknown on day1?

Thank you.

[dwarakanath_n]

Hi,

First option: Use default customer account and name it as "On account customer"

Second option: Use a balance sheet GL and name it as "On account receipt"

In both the cases, you can select the respective posting key and post to this GL account in F-28 or in any other transaction code like F-02. In case of F-02, enter the doc date, posting date, reference, incoming bank account GL, amount, value date if mandatory and then select posting key for either customer or GL account and then post the transaction. If the on account receipt is a GL account, then ensure to put that GL account as an open item managed GL account and once the customer is known, then you can clear this intermediate On account receipt GL account, thereby the amount will be transferred to the respective customer account and once it is transferred to customer account, it can be cleared with the billing or invoice document.

Hope this helps.

[chandrasekharbadeti_chand]

Hi,

Create Spl GL Transaction Indicator and then post the entry.

Once the whole business trasaction completed then move the amounts to main GL.

As you know spl GL indicators will be created for Sub-GL A/cs. once complted the business tranaction then move to main GL A/c.

For Ex: you have received advance payment from unknown customer then post to spl GL.

once these advance payments cleared then move all the advance payments to respective Customer A/cs.

So, Sub-GL account will become zero.

Thanks

Chandra

Edited by: BCSJVS ChnadraBS on Oct 29, 2009 11:25 AM

[Former Member]

Hi,

For this you might need to create either a dummy customer code or a Offsetting GL account (B/S) during your incoming payment transaction.

If you use F-28, it will ask to choose open items for clearing the payment with them, so please use normal F-02 with a dummy customer code or B/S GL account as a offsetting entry for bank line item

Hope this might help you out.

Thanks,

Srinu

[Former Member]

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