Re: [SL] How to account for pre-payments

[Michael H. <mh...@it...>]

Good question!
    And if you search the archives you'll see that while there are  
several ways to handle it there are no "best" or "right" ways to do it.
    Or, to put it more plainly, SL does not really have a "credit"  
account per customer out of the box.  You can do it yourself, (a  
laborious process if you already have a lot of customers in the  
system).  Or you can do an equally laborious negative invoice and  
deletion as you've already described.
    There are some other possible ways but they all pretty much come  
down to the same thing - SL doesn't have a good credit tracking  
mechanism.  (Actually, I should say the tracking is fine, it's the  
application of the credit that's awkward).


Thanks,

Michael

On May 5, 2009, at 2:08 PM, Kevin Bailey wrote:

Hi,

What is a good way to handle pre-payments?  I.e. we make payments to our
accountant to pre-pay towards an invoice which is then raised at the end
of the year.

Currently, I assign them to a suspense account - and then reallocate
them.  But this is a bit of a pain as I have to delete these
transactions later, add as a receipt and then reconsolidate the bank
statements.


I suppose I could prepay to a debtors account - but how would I remember
to pay this against the outstanding to stop our bookkeeper from paying
the invoice twice!

Cheers,

Kevin

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