Payment on account

Question asked by Peter Rigg 8 years ago

Please can you help here...

A payment on account was made on the 4th of october 2013 in respect of an invoice which was subsequently issued on the 31st of October. The payment was for £2,500.00.

I could see no straighforward was of allocating this payment so posted the following journal:

Debtors 7501001 CR £2,500

Revenue 1001001 DR £2,500

This has corrected balance sheet figures by decreasing the debtor balance by £2,500 and increasing revenue by £2,500.

However, on the dashboard it still shows the outstanding invoices to be £2,500.00 more than it should be.

Please can you help!?

1 Reply

Hello Peter,

You need to delete the journal as this does not effect the dashboard on the Clear Books system. The best way to do it is to create an invoice and then allocate them to the unallocated cash. Currently, you have overstated your sales by £2500 by doing the journal and having the sales invoice.



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