Question:
I receive deposit from customer before item is delivered/Invoice is issued, how do I key in the transaction?
Answer:
Cloud Accounting does not have Deposit document.
Below are the steps of using Receipt Voucher to record deposit.
Example:
You are selling an item RM200. First, you received RM100 deposit from customer. After delivered the item, customer pays the remaining RM100.
1) To key in the deposit received RM100, go to Accounting > Cash Book Entry > create New Receipt Voucher of RM 100 by select the Debtor and payment method.
2) You issue an Invoice of RM 200 when item is delivered.
3) When the customer make payment for the balance RM100, you may create another New Receipt Voucher.
4) To knock off the Receipt Voucher and Invoice, go to Accounting > Knock Off Entry. Create New Knock Off Entry, you may knock off the Invoice against the 2 Receipt Vouchers and make sure the Total Applied Amount is zero. After done. Click on Save.
By: Rotcana 211116, Lay Swan 211127, P211129