Applying payments to an invoice

Yahoo Archive
1
We use advance billing...because for us these are long projects that
take a few months.

Give me a call if you need more info....



M. Manasa Reddy
manasa@...
P: 630-806-2000
F: 630-806-2001


________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of maurojm
Sent: Tuesday, December 11, 2007 12:17 PM
To: vantage@yahoogroups.com
Subject: [Vantage] applying payments to an invoice



We buy conveyor systems for our customers that we bring in to our
building and set up with our packing lines before shipping it all out
to our customer. The conveyors are set up to be paid in installments
of 40\40\20. How are others applying these payments to the purchase
order?

From my accounting dept:

"In order for us to track payments on a purchase order we
must "receive" the purchase order in whole or in part. The only way
to make a payment without adding a dollar amount to the general
ledger is to create 2 purchase order lines, one for no dollar amount
and one for the "real" dollar amount. That way we could receive the
purchase order to pay against and the shipping department could
receive the purchase order when it actually arrived at the plant. Is
there an easier way to do this?"

Thanks in advance.
Jeff






[Non-text portions of this message have been removed]
2
We buy conveyor systems for our customers that we bring in to our
building and set up with our packing lines before shipping it all out
to our customer. The conveyors are set up to be paid in installments
of 40\40\20. How are others applying these payments to the purchase
order?

From my accounting dept:

"In order for us to track payments on a purchase order we
must "receive" the purchase order in whole or in part. The only way
to make a payment without adding a dollar amount to the general
ledger is to create 2 purchase order lines, one for no dollar amount
and one for the "real" dollar amount. That way we could receive the
purchase order to pay against and the shipping department could
receive the purchase order when it actually arrived at the plant. Is
there an easier way to do this?"

Thanks in advance.
Jeff
3
Use the "Advance Payment" feature. The first 2 installments can be entered
into a/p as an advance bill.


Edward F. Fox, Jr., CPA

Controller

Maxson Automatic Machinery Company

Phone 401-596-0162 a Fax 401-596-1050

www.maxsonautomatic.com <http://www.maxsonautomatic.com/>



_____

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
maurojm
Sent: Tuesday, December 11, 2007 1:17 PM
To: vantage@yahoogroups.com
Subject: [Vantage] applying payments to an invoice



We buy conveyor systems for our customers that we bring in to our
building and set up with our packing lines before shipping it all out
to our customer. The conveyors are set up to be paid in installments
of 40\40\20. How are others applying these payments to the purchase
order?

From my accounting dept:

"In order for us to track payments on a purchase order we
must "receive" the purchase order in whole or in part. The only way
to make a payment without adding a dollar amount to the general
ledger is to create 2 purchase order lines, one for no dollar amount
and one for the "real" dollar amount. That way we could receive the
purchase order to pay against and the shipping department could
receive the purchase order when it actually arrived at the plant. Is
there an easier way to do this?"

Thanks in advance.
Jeff






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