Only Bank & Current Asset accounts can be deposited to.
Normally, you would be receiving these funds (“Deposit to”) into a “Bank” type account, either:
- Your main bank account (if paid directly into there by the customer via EFT)
- A Clearing bank account (if paid via a 3rd Party Payment App that charges you Fees & deposits the net into your main account eg Square etc) or
- via Cash
Where are your customer’s payments actually being made to?
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
0422 886 003
Thanks for your reply!!
Our Prepaid Sales account is an Accounts Receivables Type so that it why is cannot be selected.
Any thoughts on how I can get around this process??
Currently for a ProForma Invoices:
DR Bank CR Prepaid Sales
When the ProForma gets converted to a Sales Invoice and payment is applied in a different month:
Customer Invoice Received Payment - Deposit to A/R Year End Adj as I cannot select Prepaid Sales
Then I action to DR Prepaid Sales CR A/R Year End Adj which clears these two accounts.
Thanks for your assistance.