Interested to Buy Any Domain ? << Click Here >> for more details...
one employee went on site , we given to him 1000 through prepayment . but i final spends amount is 800, then what about remaining 200 , how can we refund to organisation. through debit memo or credit memo, or , prepayment or if any, please give me best solution , if any one know this question answer reply me this mail, nmallioracle@gmail.com
- 1 Answers
- 3486 Views
- Polaris, I also Faced
- E-Mail Answers
Answer Posted / govind singh
1.Create a debit memo with a clearing account in distribution and take the refund (do the payment)
2. Create a standard invoice with the same clearing account which we use in debit memo and apply the Prepayment.
Let's see the entire process accounting from payment to employee.
- Prepayment A/c Dr. 1000
To Supplier Liability A/c 1000
- Prepayment Paynent
Supplier Liability A/c Dr. 1000
To Cash Clearing A/c 1000
- Standard Invoice of employee expenses of 800
Item Expense A/c 800
To Supplier Liability 800
- apply the Prepayment
Supplier Liability A/c Dr. 800
To Prepayment A/c 800
- Debit Memo
Supplier Liability A/c Dr. 200
To Clearing A/c.200
- Standard Invoice (with Clearing account offset)
Clearing A/c Dr. 200
To Supplier Liability A/c 200
- Apply the Prepayment (remain amount)
Supplier Liability A/c 200
To Prepayment A/c 200
So all the account is knocked off.
Follow this process
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Can Adjustments be imported?
Write Test Scripts for a telecummunication project on the basis of priority with some examples with regard to AP,GL,FA.
What is the Use of Grouping Rule in Receivables ? is it mandatory field ?
what is the meaning of purchase default and what are the types
How will account an advance of Rs.10000/- which is a permanent prepayment, can I make payment for this?
Re: While you are in implemenation what are u faced the issues ? tell me what some ap & GL issues?
What do you mean by Category Set ? and what is its Relevance ?
Please post the setups required to approve the payable invoice in AP.
how service tax work.
Anyone provide the oracle fin/scm definetions
What is meant RD020
I am created credit memo in at but while trying to complete it showing error message-hz_party_location
difference between 11i&r12
1.what is the name of program to create invoice automatic from po.? 2.How to auto upload the bank statement? 3.PO tax has not flown to invoice . why? Debit memo not generated for return of goods.??
explain your project plan with exam pal? i am preparing inter view .............
