Customer Deposit

Menu: Customer | Customer Deposit...

Introduction

• Deposits are the advance payments made or received for future services and goods to be invoiced. With accrual basis accounting, a prepayment for work that a corporation is obligated to perform becomes a liability.

• Generally, the double entry will be:-

Account Description	DR	CR
Bank Account	500.00
Prepayment from Customers		500.00

• At General Ledger, Maintain GL Account must have a deposit account named "PREPAYMENT FROM CUSTOMERS" under Current Liabilities.

Customer Deposit - Entry

1. Click on New button.

2. Select the Customer Code. You direct key-in and search by either customer code or name.

3. You may select other deposit account to be credited in Deposit Acc.

4. You may select the bank / cash account to be deposit (to be debited) in Received In.

5. Enter the deposit amount into Paid Amount.

6. Below is the example of the entry created:

7. Double entry will be:-

GL Account	Description	DR	CR
310-001	Maybank	6,000.00
PREPAYMENT	Prepayment from Customers		6,000.00

Customer Payment Off Set with Deposit

Menu: Customer | Customer Payment...

1. Create NEW or EDIT the customer payment.

2. Deposit balance (total deposit from each customer) will be displayed after a customer has selected.

3. Click to the arrow key down to select a deposit to offset with customer payment (to knock-off the outstanding invoices).

4. Deposit no (official receipt no) will selected to offset with customer payment. Received in will be auto set.

5. Click SAVE to post. Double entry will be:-

GL Account	Description	DR	CR
PREPAYMENT	Prepayment from Customers	6,000.00
300-A0002	Customer Account		6,000.00

HINTS:
No deposit balance from the customer if the deposit balance shown 0.00 in customer payment. 

Customer Invoice - Attachment

• It is very useful to attach any supporting documents to an invoice.
• In future, you able to retrieve and refer the attachment file easily.

1. You have to point to the attachment section.

2. Click on ( + ) button to insert the filename path.

3. See the sample screenshot below.

File:Customer Invoice-Attachment2.jpg