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prepayment adjustment [message #215726] Tue, 23 January 2007 12:29 Go to next message
mgkgsg
Messages: 31
Registered: December 2006
Location: INDIA
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suppose we have a one time supplier and we had advance payment for rs 1000 and we received an invoice of rs 800.
1. how can we create invoice. made payment and the entries.
2. how we received back balance payment in apps
thanks in advance
Re: prepayment adjustment [message #215961 is a reply to message #215726] Wed, 24 January 2007 07:40 Go to previous messageGo to next message
Arjunn
Messages: 64
Registered: December 2006
Location: Hyderabad/Gurgaon
Member
mgkgsg wrote on Tue, 23 January 2007 23:59

1. how can we create invoice. made payment and the entries.


At the time of creating the invoice a popup window gives the message a prepayment adjustment is available with this supplier.
After validating the invoice, you can adjust this prepayment. Balance amount remained with supplier it can be adjuted with another invoice.


Regsrds,
Arjun

[Updated on: Wed, 24 January 2007 07:42]

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Re: prepayment adjustment [message #216008 is a reply to message #215726] Wed, 24 January 2007 10:55 Go to previous messageGo to next message
mgkgsg
Messages: 31
Registered: December 2006
Location: INDIA
Member
Dear Arjun
As we had already mention that it is a one time supplier so how could it be possible to make another invoice against him
Re: prepayment adjustment [message #216025 is a reply to message #216008] Wed, 24 January 2007 12:57 Go to previous message
Arjunn
Messages: 64
Registered: December 2006
Location: Hyderabad/Gurgaon
Member
hi

I got what u want, but I dnt knw exactly.


Enter standard invoice with the whole amount (i.e. 1000) and apply with the previously entered prepayment.

*Enter ‘Credit Memo’ invoice of negative amount (i.e. -200) and match the invoice with the standard invoice and send the supplier for refund.

*Pay 'Credit Memo' invoice with 'Refund' payment type, which is used to make a negative payment for a credit balance. Refund transactions will appear in the supplier transaction history and will be reflected in the supplier balance.

PREPAYMENT

Prepayment 1000 DR
Bank 1000 CR


STANDARD INVOICE & PREPAYMENT ADJUSTMENT

Charge Acc 1000 DR
Prepayment 1000 CR

CREDIT MEMO

Bank 200 DR
Charge Acc 200 CR


I got this in another forum, if it is wrong plz clarify.

Regards,
Arjun.

[Updated on: Wed, 24 January 2007 23:37]

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