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Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. How can you perform these
steps in AP?
- 7 Answers
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Answer / fahd
1-create a prepayment of 1000 and pay in full
2-fill expense report for 800
3-import expense report invoice
4-apply prepayment to the expense report invoice
5-create a standard invoice of 200 and in distribution
selecting a clearing account
6-applying this std invoice with prepayment
7-creating a debit memo of 200 with clearing account in
distribution
8-processing refund against this debit memo
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / subhranshu
Create a Prepayment of 1000. Pay the Prepayment Invoice in
Full. As the expense is incurred, Match the expense report
Invoice with the prepayment. For the Return you have to
create a Refund of 200. For that create a standard Invoice
of 200 and match it with Prepayment invoice. Then create a
Debit memo or 200 and pay it with a refund of 200
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / cramesh.oracle
raise the prepayment for 1000$,then make payment fully,
raise the invoice for expenses 800$,then apply the advance 800$,
raise another standard invoice for 200$, distribution A/c
should be required Bank/Cash A/c,then apply the remaining
advance 200$
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / ramesh addagonta
1.Create Prepayment for 1000 and paid
2.Create standard invoice for expenses for Rs.800 and
adjust with Prepayment
3.Create standard invoice for refund for Rs.200 and adjust
with prepayment
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / conceadow
Create Standard Invoice with Bank Account entered in Distribution and apply prepayment against it.
Bank Account Dr.
Liability Account Cr.
after Application:
Liability Account Dr.
Advance to Employee Account Cr.
No need for Credit Memo and Payment than. Ultimate entry:
Bank Account Dr.
Advance to Employee Account Cr.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / murugan
1 st Creat the Prepayment and Fully Paid
2.Pass the Standred invoice and Adjust the Prepayment
Rs.1000
3.pass one Credit Memo entry and Get the Refund the amount
Rs.200
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / mohammed asim
create a prepayment of 1000 and apply it with the invoice
of 1000 and then create a debit memo of 200 to get the 200
refund.
| Is This Answer Correct ? | 0 Yes | 2 No |
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