Refund Deposit Payment - 8.03.409A

Yahoo Archive
1
It might depend on how the Deposit was applied (through AR invoice entry or Cash
Receipt Entry) and what the status of the invoice is. AR invoice entry deposits
will create debits and credits to a liability and ar account, while deposits
entered through cash receipt entry will create the liability and the cash
receipt.

Look at how your GL default accounts are set on your company config. Try posting
the credit memo and then apply the credit memo and see what the transactions
look like. I'm traveling and not looking at the screen right now so going a bit
by memory




________________________________
From: Fay Weis <fweis@...>
To: vantage@yahoogroups.com
Sent: Tue, October 12, 2010 11:57:33 AM
Subject: [Vantage] Re: Refund Deposit Payment - 8.03.409A

Â
Thanks for the suggestion, Mark. I gave it a try, but I can't get the debit to
go to CASH; it's posting to A/R. When I keyed in the order number it created a
line with part #DEPOSIT with no product group. So I assigned a product group to
the part number which would post the invoice to CASH, but that didn't work. In
fact, on the edit list, the product group is still showing as blank. Any other
thoughts?







[Non-text portions of this message have been removed]
2
I need to update a sales order with a deposit payment refund. The order was entered and paid in full in advance, changes were made to the order which decreased the price. The customer was given the refund directly to their credit card account. I've updated the sales order with the changes to reflect the new, lower price, but how do I change the deposit payment to reflect the refund of the difference and update G/L? Any assistance would be appreciated.
TIA,
Fay Weis
KEES, Inc.
3
Fay, I dont remember in Vantage but in E9 you can go to invoice entry and create
a "New Deposit Billing Credit memo". The system should automatically assign a
part line which reads deposit. Go to the deposit tab on the line and enter the
amount over you want to credit. Run the edit list and make sure the GL Accounts
are correct and then post.

Â



________________________________
From: Fay Weis <fweis@...>
To: vantage@yahoogroups.com
Sent: Tue, October 12, 2010 11:01:32 AM
Subject: [Vantage] Refund Deposit Payment - 8.03.409A

Â
I need to update a sales order with a deposit payment refund. The order was
entered and paid in full in advance, changes were made to the order which
decreased the price. The customer was given the refund directly to their credit
card account. I've updated the sales order with the changes to reflect the new,
lower price, but how do I change the deposit payment to reflect the refund of
the difference and update G/L? Any assistance would be appreciated.

TIA,
Fay Weis
KEES, Inc.







[Non-text portions of this message have been removed]
4
Thanks for the suggestion, Mark. I gave it a try, but I can't get the debit to go to CASH; it's posting to A/R. When I keyed in the order number it created a line with part #DEPOSIT with no product group. So I assigned a product group to the part number which would post the invoice to CASH, but that didn't work. In fact, on the edit list, the product group is still showing as blank. Any other thoughts?
5
Someone correct me if I'm wrong, but we do a three step process:



1. Create a deposit billing credit memo. This will credit a/r and
debit the prepayment account (this removes the deposit from the sales
order)

2. Do an a/r adjustment that debits a/r and credits prepayment (it
reverses the previous g/l transaction)

3. Do a bank adjustment to credit cash and debit the prepayment
account.



Regards,

Linda



From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Fay Weis
Sent: Tuesday, October 12, 2010 11:58 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Refund Deposit Payment - 8.03.409A





Thanks for the suggestion, Mark. I gave it a try, but I can't get the
debit to go to CASH; it's posting to A/R. When I keyed in the order
number it created a line with part #DEPOSIT with no product group. So I
assigned a product group to the part number which would post the invoice
to CASH, but that didn't work. In fact, on the edit list, the product
group is still showing as blank. Any other thoughts?





[Non-text portions of this message have been removed]