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Post Info TOPIC: Investment Return
Rochie


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Investment Return
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Hi guys,

I have a product that gives a return. But when the return is due to be paid to the customer what posting do i do?



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Phoenix Orlando


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On the assumption that all accrued return is transferred to the customer:

Credit Product accrued returns a/c: £10
[Debit Bank: £10]
[Credit Bank: £10]
Debit Customer A: £10

Note that Customer A shouldn't surface on the b/s at year end as a debtor as either:
1. value of product plus notional/expected returns are already credited to the account; or
2. all posted returns are transferred to a global returns account at year end.

In the absence of comprehensive information, the above (perhaps simplistic) approach is all I can come up with....

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Phoenix Debola

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07803 704496
Rochie


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Posts: 34
Date:
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Thanks Phoenix

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