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So I see there are Customer Posting Groups, which handle the account code mapping for the AR side of things. For example, a customer purchases an item using an in-store charge account. So the customer owes us the balance. Makes sense. See an example below of something defined this way.
Looking in BC 19 I do not see how we account for customer deposits. For example, a layaway deposit, a special order deposit, or in-store credit. Can anyone speak to how this is handled in BC? Hopefully it's not just lumped into AR as basically a "flipping" of the deposit amount being seen as a positive, whereas the in-store charges would be seen as a negative.
Appreciate both of your feedback! I think we are envisioning the layaway or special order deposits being straightforward as handled through the Prepayments feature. That way we can associate the deposits against both the customer and specific item linked to the sales invoice transactions. As for the "store credit" scenario, rather than muddy the waters by lumping into Receivables, we will plan on just issuing gift cards for the customers to use.
If the deposits are not tied to a sales order, can these be recognised through the account used in the Receivables Account field? e.g. Customer Deposits (liability account). This requires a separate Customer Posting Group.
Payment received and posted in a Cash Receipt journal should be crediting this account.
The downside is that you would need to manually apply/match these customer deposit transactions with the sales invoice transactions that come later.
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