Hi,
When month end, how can we verify which is “Sales Deposit Received” In system?
Once system create invoice, “Account receivable” created an entry , so that we cannot determine the actual sales deposit received amount by account code. And our requirement is need to distinguish “Account Receivable” and “Sales Deposit Received” on the Balance sheet report. Any idea?
Best Regards,
Anson
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As I understood from your message, you want to post sales invoice and this generates Account Receivable amounts. Also, you are receiving deposits (advance payments) from customers and this generates you Sales Deposit Received.
If so, you will just keep both entries unapplied for the same customer if you want to see them on different sides of the balance sheet. You can either register those transactions on different G/L accounts (as in some localizations the matching of advance payments is done automatically when applying entries).
Also, you can build your balance sheet by different types of entries of customer ledger entries: unapplied amounts of payments received will go to one side of the balance sheet, and unapplied amounts of posted invoices will go to the other side.
Can you elaborate the meaning of Sales Deposit in your scenario V/s Account Receivable?
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