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Gregory West(R)

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Manitoba Canada,
27.06.2015, 13:38
 

Paying an invoice with a credit ballance (General)

How do I pay an invoice with an available credit balance? The invoices are imported from a POS system into SQL Ledger in large quantity so I have a couple accounts that have credit balances and invoices but I can not seem to just apply a credit to a particular invoice. It is not quite as easy as applying the credit to any invoice, as some credits are good for for payment of certain types of purchases. ie: Returned good credit can buy more product, but can not be used for services. (I don't write the rules I just follow them).

Greg

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Gregory A. West
DB&W Systems Limited

DavidJ(R)

23.07.2015, 22:07

@ Gregory West

Paying an invoice with a credit ballance

Actually, you don't really "pay an invoice with a credit balance".

In SQL-L, think of this as applying an actual payment to the net total of some invoice/s and credit note/s.
Cash, Receipt, Select Customer, Update, Tick the Invoices AND Credits being "paid", enter net payment details, Post.

Sometimes, we also enter a "phantom" payment (*) against Invoice/s and Credit/s, just to close them out.
(*) Phantom payment adds to zero, and we use a clearing or suspense account rather than a real bank account for this zero "payment".
IF you use a real bank account, it messes up your bank reconciliation slightly.

HTH and YMMV

BTW, are you same Gregory West who uses FreePBX forum ?

Gregory West(R)

E-mail

Manitoba Canada,
26.07.2015, 14:13

@ DavidJ

Paying an invoice with a credit ballance

Thanks David, sort of figured out that is what had to happen. Created a slush account for the two transactions. That way the slush account should always have a zero balance, if not there has been an error somewhere.

Greg

P.S. Yup, I am the Gregory West on the FreePBX forum also. Glad to make your acquaintance.

Actually, you don't really "pay an invoice with a credit balance".

In SQL-L, think of this as applying an actual payment to the net total of
some invoice/s and credit note/s.
Cash, Receipt, Select Customer, Update, Tick the Invoices AND Credits being
"paid", enter net payment details, Post.

Sometimes, we also enter a "phantom" payment (*) against Invoice/s and
Credit/s, just to close them out.
(*) Phantom payment adds to zero, and we use a clearing or suspense
account rather than a real bank account for this zero "payment".
IF you use a real bank account, it messes up your bank reconciliation
slightly.

HTH and YMMV

BTW, are you same Gregory West who uses FreePBX forum ?

---
Gregory A. West
DB&W Systems Limited

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