Convert Cash Receipt to an Order Deposit

Kinetic ERP
1

We had a customer wire a deposit for their order, before the Sales Order was created in Kinetic. Since I had to post the cash in order to reconcile the bank account at year end, I just posted the cash as “On Account”. It shows on the customer’s AR Aging.
Now, the sales order has been entered in Kinetic. How can I convert the “On Account” funds to an actual deposit for the Sales Order? I have thought about simply creating a JE to move the funds from the Accounts Receivable GL account to the Deposit GL account, but that will not connect the deposit to the sales order. If I go the JE route, I will have to JE the funds back to Accounts Receivable GL from the Deposit GL when the resulting invoice is funded, since the final payment will be short.
I really don’t like JE’s into system accounts like Accounts Receivable, so I’m looking for the right way to handle this.

Thanks!

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2

Don’t know which version you’re running, Don, but you should be able to post a deposit invoice for the customer/order and then apply the UR to the open invoice.

3

Thank you Scott. You are one of the reasons I love this group. I am relatively new with Kinetic, and had only applied a deposit to a sales order during Cash Receipts. Never realized you could also create a Deposit invoice, but now I know!

Thank you for taking the time to respond to my newbie question.

Dori

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