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Customer Deposit Amount Rec'd on Orders

  • 1.  Customer Deposit Amount Rec'd on Orders

    Posted Jun 27, 2017 02:45 PM
    Our company regularly applies customer deposits to an Order via Sales Payment Entry in the 'Amount Received' field.  One such deposit in a prior period has been refunded to a customer.  I cannot remove the 'Amount Received' because GP is telling me that I need to open the prior period to do so.  I do not want to adjust a prior period.  How do I remove/refund the customer's deposit and void the Order without opening a prior period?


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    Scott Simpson
    Corporate Controller
    TrackingPoint
    Pflugerville TX
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    Academy - Online Interactive Learning from Experts


  • 2.  RE: Customer Deposit Amount Rec'd on Orders

    GPUG ALL STAR
    Posted Jun 27, 2017 08:37 PM

    ​Hi,
    When the deposit was received, I presume the following entry was recorded
    DR Cash
    CR  Customer Deposit liability
    Additionally, it would have increased your checkbook register by depositing the cash.
    Now, you want to leave the above entry in place, but want to refund the customer his deposit and void the order. You tried to remove the deposit using the SOP Payment Entry window, but it would let you because of the closed period.
    Unfortunately, I don't think you can unwind the transaction. What you may need to do is the following:
    1. Transfer the order to an Invoice (Include Totals and Deposits)
    2. Open the invoice and Cancel the quantity (you will first need to zero out the qty to invoice and the qty fulfilled)
    3. Post the entry in the current period. The generated entry will be a DR to Customer Deposits and a CR to Accounts Receivable. The transaction will not change your inventory.
    4. Do a Customer/Vendor Consolidation and transfer the deposit credit to Payables
    5. Pay the resulting payable and send the check to the customer

    The above will not require you to change the previous period.

    Kind regards,
    Leslie



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    Leslie Vail
    Accounting Systems Consulting, Inc.
    Dallas TX
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    Academy - Online Interactive Learning from Experts


  • 3.  RE: Customer Deposit Amount Rec'd on Orders

    Posted Jun 28, 2017 09:10 AM
    When I attempt to process the transfer I receive a Screen Output that shows a transfer hold has been assigned to the order / 1 Error(s) during transfer.

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    Scott Simpson
    Corporate Controller
    TrackingPoint
    Pflugerville TX
    ------------------------------

    Academy - Online Interactive Learning from Experts


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