What is Deposit? A customer deposit Rs.15,000/ and he
ordered the goods of Rs.10,000/ against the deposit. Now he
wants the remaining cash back. how do you do in receivables?
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Answer Posted / cramesh.oracle
raise the invoice in receivables for 10000/- for goods
supplied and apply deposit for 10000/-
raise another invoice in receivables for 5000/- revenue a/c
should be clearing A/c, then apply remaining deposit for 5000/-
raise invoice in payables to smae party for 5000/-
distribution a/c should be clearing A/c, then make the payment.
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