Prepayments to Creditors

LyndaSurg
LyndaSurg Member Posts: 1 Novice Member Novice Member

We make payments on purchase orders when we order stock, quite often from overseas. I need to be able to have it so a creditor shows a credit balance from a payment made which will then offset with the invoice when the goods are received.

I use bank data so need to be able to process it through there.

Thank you

Comments

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,780 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Not sure about bank data as I don't use that but I would use a "Write Cheque" & post to your Accounts Payable account (no tax code - GST is only applicable upon receipt of the Bill/goods, not on pre-payments) 

    This will create a credit in the A/P for this supplier which can be allocated to the Bill when you receive it.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

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