Another How to Question - Accounts Payable - Deposits

If the deposit on Line 2 can be used on Line 1 (it is a deposit,
after all), I would recommend that:
1) the 50% in Line 2 is "returned" to the vendor with a debit memo,
2) Line 2 is then closed
3) The additional 20% is received on Line 1 and the credit from
the "return" is applied to the receipt.

This will keep your inventory / job clean. Deducting the price of
Line 1 will ultimately put the money in the same pot, but the
suggested steps will keep the information straight.

Michel Randolph
Infinity Business Consulting
mrandolph@...


--- In vantage@yahoogroups.com, "dhieber" <dhieber@...> wrote:
> Our A/P department had to make a 50% deposit on one of our p.o.'s
> Line 1 7700.00
> Line 2 300.00
> To do this she received 50% in of each line and paid it. Now they
decided
> we are cancelling line two (after deposit was made and posted)
>
> She wants to change the price of line one by deducting $150.00 and
then
> closing line two. I don't think this is the way to go but I also
not sure
> how to fix it.
> Any advise?
> Dina Hieber
>
> Vamco International, Inc.
>
> Phone (412) 963-7100
>
> Fax; (412) 963-7160
>
>
>
> www.vamcointernational.com
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
Can you believe it is August 30th already!!!



Anyways, I need the advise of this group again.



Our A/P department had to make a 50% deposit on one of our p.o.'s



Line 1 7700.00

Line 2 300.00



To do this she received 50% in of each line and paid it. Now they decided
we are cancelling line two (after deposit was made and posted)



She wants to change the price of line one by deducting $150.00 and then
closing line two. I don't think this is the way to go but I also not sure
how to fix it.



Any advise?



Have a Nice Day,



Dina Hieber

Vamco International, Inc.

Phone (412) 963-7100

Fax; (412) 963-7160



www.vamcointernational.com





[Non-text portions of this message have been removed]