...
Step 1: An advanced payment invoice has been created.
Advanced Payment Invoice |
|---|
Account | Debit | Credit |
Accounts Receivable | 10 | |
Other Current Liability | Expand |
|---|
| This is the account selected for the Payment Type item used in the Advanced Payment Invoice. This |
|
account will be the clearing account for the advanced payment recorded and entry will be offsetted by the |
|
advanced payment line in future final A/R of the actual |
|
final Step 2: The payment transaction for the advanced payment invoice has been created
Payment |
|---|
Account | Debit | Credit |
Accounts Receivable | | 10 |
Other Current Liability | Expand |
|---|
| This is the account selected for the Payment Type item used in the Advanced Payment Invoice. This |
|
account be the clearing account for offset the A/R entry from the advanced payment |
|
recorded and will be offsetted by the advanced payment line in the actual final Step 3: The actual invoice for the sales order has been created
Actual Sales Invoice |
|---|
Account | Debit | Credit |
Accounts Receivable | 40 | |
Revenue Account | | 50 |
Other Current Liability | Expand |
|---|
| This is the account selected for the Payment Type item used in the Advanced Payment Invoice. This account will be the clearing account for the advanced payment recorded and will be offsetted by the advanced payment line in the actual final invoice. |
| 10 | |
Step 4: The payment transaction for the actual invoice for the sales order has been created
Payment |
|---|
Account | Debit | Credit |
Accounts Receivable | | 40 |
Other Current Liability | Expand |
|---|
| This is the account selected for the Payment Type item used in the Advanced Payment Invoice. This account will be the clearing account for the advanced payment recorded and will be offsetted by the advanced payment line in the actual final invoice. |
| 40 | |
Conclusion:
At the end of this process:
...