Customer Deposit: Difference between revisions

From eStream Software
Line 47: Line 47:
::[[File: Customer Deposit-04.jpg |640px]]
::[[File: Customer Deposit-04.jpg |640px]]


:: Double entry will be:-
::{| class="wikitable"
::{| class="wikitable"
|-
|-
! '''Label''' !! '''Types''' !! '''Explanation'''
! style="text-align:left;"| GL Account !! style="text-align:left;"| Description !! style="text-align:right;"| DR !! style="text-align:right;"| CR
|-
|-
| A || Document Project || It represent the project for a document to be debit.
| 310-001 || Maybank || style="text-align:right;"| 6,000.00 || style="text-align:right;"| 
|-
|-
| B || Detail Project || It represent the project for individual GL Account to be credit.
| PREPAYMENT || Prepayment from Customers || style="text-align:right;"| || style="text-align:right;"| 6,000.00
|}
|}<br />
<br />


==Customer Invoice - Attachment==
==Customer Invoice - Attachment==

Revision as of 01:33, 1 November 2018

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-00.jpg


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:
Customer Deposit-01.jpg


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 customer payment.
2. Deposit balance (total deposit from each customer) will be displayed after a customer has selected.
Customer Deposit-02.jpg
3. Click to the arrow key down to select a deposit to offset with customer payment (to knock-off the outstanding invoices).
Customer Deposit-03.jpg
4. Deposit no (official receipt no) will displayed after the deposit has selected. Received in will be auto set to PREPAYMENT FROM CUSTOMERS.
Customer Deposit-04.jpg
Double entry will be:-
GL Account Description DR CR
310-001 Maybank 6,000.00
PREPAYMENT Prepayment from Customers 6,000.00

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.
Customer Invoice-Attachment.jpg


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


Customer Invoice - Note

1. Click on the Note section (on the LEFT side bar).
2. RIGHT click it, you will see the Rich Text Editor pop-up.
3. You can start key-in the note. See the example screenshot below.
4. Click on X button to save and exit the Rich Text Editor.
File:Customer Invoice-Note.jpg


5. You will get prompted the Save changes? message. Click YES to save it.
Customer Invoice-Note2.jpg


Customer Invoice - Invoice Description

1. To show the document description in Customer Statement, eg. Sales-Oct 2012.
File:Customer Invoice-Description.jpg


2. Sample of customer statement screenshot below.
File:Customer Invoice-Description2.jpg