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Post Info TOPIC: Need advice - returned suplier pre-payment
Ridesy


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Need advice - returned suplier pre-payment
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Hi,

Can anyone offer suggestions on how to post a returned supplier pre-payment?

We sent a Chinese factory a 50% pre-payment deposit for an order in January that was subsequently cancelled before any goods were made.

The supplier agreed to hold the pre-payment and to use against future orders as this just seemed easier, but we have now had no further orders for that product in six months and the supplier has graciously returned the payment to us.

My problem is how to post this, as currently it just shows as a negative balance on that suppliers account with the corresponding credit on current account in January.

Anyone suggest how I can debit current account and somehow credit a supplier account?

Thanks

 

Ridesy



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Ridesy


Veteran Member

Status: Offline
Posts: 79
Date:
Permalink Closed

Hi,

All sorted - simply had to do a journal creditting supplier account and debitting USD bank account.

Couldn't have been easier, just never done a journal involving supplier/customer accounts.

Ridesy



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