Share
Report
1,495Hello!
My client entered as retainer invoice for $20,000 and applied a cash receipt for $20,000. The On Account Retainer Amount was $20,000.
My client then mistakenly entered a negative retainer amount in Billings entry. Now, when we go back to apply retainers to bills, there is only $15,000 on account. How do I get the On Account Retainer Amount back to $20,000?
I came across this message:
1. Enter a payment in Receivables Management for the amount that is to be returned.
2.Apply the same to the unapplied retainer billing which will increase the On Account amount.
3.Then enter the negative retainer billing which would decrease the On Account amount.
4.Proceed to enter an invoice directly in Receivables Management for the returned amount
5.Apply the credit created in step 3 to the invoice from step 4.
If this solution does relate to my issue, it is not logical to enter another cash receipt, since my client already received the full retainer amount. Secondly, I don't understand step 2. Where do I apply a cash receipt to an unapplied retainer billing?
Please help. Thanks!
Steve
*This post is locked for comments
All responses (
Answers (
