Entries for Down payments

[Former Member]

Hi all,

Can anyone throw some light on entries for down payments i,e for advance received from customers and advance paid to vendors.

Thanks

Shravan

[sridevi_p]

Hi,

Step 1: Create GL under Current Liabilities - Down pmt received. select the Line item display; Recon A/c: Customer; Sort Key: 031; FSG: G067

Step 2: IMG-FA-ARAP-Bus Trans-Down Pmt Recd - Define Recon Account for Customer Down payment-

Double click the line D-A-DownPmt-Down Pmt

Enter CoA

Recon A/c: Debtors GL account

Special GL A/c: Down pmt Recd GL acc no

Save

Testing:

1. Tcode: F-29

Customer>>accounbt: Customer GL

Special GL : A

Bank Account: Bank GL

2. Make Sales entry using F-22 (down pmt will be shown in the status)

3. Clearing: F-39; Click the required Down pmt and Save; Even partial is possible

Regards,

Sridevi

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[Former Member]

Hi

Advance paid to Vendors

Vendor Dr

Vendor Down Payment Spl GL Cr

Advance received from Customers

Customer Down Payment Spl GL Dr

Customer Cr

Regards,

K Lakshmanan