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

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

Answer / narayana.chinni

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

Trial balance can run which level, legal entity level or operating unit level.

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