Go to the Sales menu, then select the Products and services. You can create a service item, then change the income account to the "PrePayment Account" that you have created. Thanks for following this thread, jsedigo2. For an Accrual Basis entity or a cash basis entity allowed to hold liability, your prepayment other charge or service item is linked to a Liability account. You later make the Real Invoice and for that date of that invoice, you date a Customer Refund/Credit Memo with the same Prepayment Item, so that you can Apply the prepayment to the Actual sale.Īnd for a cash basis entity, the prepayment item is linked to an income account to handle the activities of the coming and going of prepayment, like this. This is why you would use a Prepayment Item you list that on a Sales Receipt when someone Prepays you. The Invoice can be marked Paid, but the Date of the payment being earlier than the Sale is the problem. Until the date of the invoice, then, it is Unapplied and Uncategorized. It is Uncategorized, because you used Receive Payment when no open charge exists. If the Payment is Before the sale, and you are a cash basis entity, you got Income. The payment has to be This same date or Later. It's an issue of the Date On That Invoice. It's not an issue of the Invoice being Made. Just click the " Reply" button or mention my name. Let me know the results, I'm still here to help you more if you have follow-up questions about reports. You should no longer see the Unapplied cash payment income, DG5. After that, pull up the Profit and Loss report once more. Repeat the same steps until there are no payment transactions anymore. Find the unapplied payment and click the date. Enter the same customer, amount and date as the payment. Step 3: The Payment transaction doesn't match an open invoice: 
Under Outstanding Transactions, check the open invoice.Step 2: The Payment transaction matches an open invoice: If the Payment transaction matches on the open invoice, you can proceed to Step 2. Step 1: Let's run the Open invoices report. In the Transaction Type column, locate a transaction listed as a Payment. Aside from that reason, another is that you haven't match the payment to the sales transaction. Yes, you're right that the account is used when payments were received before the invoice was created.
I can share some insights about the Unapplied Cash Payment Income account. Hello there, you for posting here in the Community.
0 kommentar(er)
