Hoe to refund prepayment amount
- 3 Answers
- 9931 Views
- TCS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ramu
first create mixed invoice remain prepayment amount & then
apply that invoice to prepayment. create debit memo agst
that invoice & make payment ...
accounting entry will be
1)prepayment invoice entry
prepayment 100
to liability 100
2) make payment
liability 100
to cash clearing
3) std invoice
item exp 60
to liability 60
4)Apply the std invoice to prepayment
liability 60
to prepaymnet 60
5)remain prepayment we have to create Mixed invoice
item exp 40
to liability 40
6) apply mixed invoice to prepayment
liability 40
to prepayment 40
7)Crete DM agst mixed invoice
liability 40
to item exp 40
8) make payment
cash clearing 40
to liability 40
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / ramu
first create mixed invoice remain prepayment amount & then
apply that invoice to prepayment. create debit memo agst
that invoice & make payment ...
accounting entry will be
1)prepayment invoice entry
prepayment 100
to liability 100
2) make payment
liability 100
to cash clearing
3) std invoice
item exp 60
to liability 60
4)Apply the std invoice to prepayment
liability 60
to prepaymnet 60
5)remain prepayment we have to create Mixed invoice
item exp 40
to liability 40
6) apply mixed invoice to prepayment
liability 40
to prepayment 40
7)Crete DM agst mixed invoice
liability 40
to item exp 40
8) make payment
cash clearing 40
to liability 40
| Is This Answer Correct ? | 2 Yes | 0 No |
Hi All,
Prepayment refund can be done in the below way
Prepayment: 300000
Invoice: 150000
Refund :150000
Create prepayment of 300000 and apply inoive 150000 to the prepayment
Then the remaining 150000 amount should be refunded, so create a invoice for 15000 by giving refund account in thr disdtribution level and then create Credit memo worth 150000.
Apply credit memo to the invoice, pay both invoice and credit memo. Thus prepayment refund id done
| Is This Answer Correct ? | 0 Yes | 4 No |
Please explain: • Automation of Accounts Payable activities (Evaluated Receipt settlement)
you have received excess money from the customer. now you want to refund the excess money. what is the set up for that?
Can any tell me about R2R FINANCIAL PROCESS?
What is the basic difference between ship to and bill to, can I hv one ship to but nos of bill to or vice versa or in what way these r related ?
whats is the differce between 11i & 10.5.9
What is Profile ?
What is the Process of Reconciliation Between AP to GL
How to refund for a customer who returns goods and wants a refund for $600 in R12 In above scenarios customer does not want Credit Memo or On- Account Credit, he wants refund check . and as we know we do not issue check from AR. How can we issue Check from AP and how offsetting is done for the same in R12
When does the Invoice price variance arise? What is the accounting entry?
How will account an advance of Rs.10000/- which is a permanent prepayment, can I make payment for this?
what is the link between Ar and PO modules? waht is link between ap and po? what is link between gl and po? what is link between gl and ap? what is link between gl and ar? what is link between ap and ar?
what is the use of accounting flexi field in accounting title in key flexifield segments
Oracle Apps Technical 
