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QuickBooks Journal Entries

61 bytes added, 17:07, 5 September 2013
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Once the '''Prepayment''' item has been created in Fishbowl, the following process can be used to take prepayment for an order.
# Make note of the original order total and then create a ''new'' sales order with the '''Prepayment''' item. Set the amount to the original order total as a positive number and then receive the payment using the {{Button|'''Quick Ship}}''' button.<br>[[File:Prepayment Step 2.png]]# Once the payment has been received, add the '''Prepayment''' item to the original order with the payment amount as a negative number, making the sales order total zero. If desired, the number of the sales order used to receive the payment can be recorded in the order notes or memos of the original order. Click the '''Save''' button once the changes have been made.<br>[[File:Prepayment Step 3.png]]
When the payment is exported to QuickBooks, it will be exported to the '''Advance Customer Payments''' account, instead of the '''Accounts Receivable''' account.
:[[File:Prepayment in QuickBooks after order is fulfilled.png]]
'''NOTE:''' This process can be modified to meet the needs of each company. For example, both '''Prepayment''' items could be added to the original order, eliminating the need for an additional sales order. Two In this case, two prepayment products could also be grouped in a kit with different names or amounts. The sales order in Fishbowl would reflect the actual order total instead of zero. The process would be similar to that listed above: Issue . First, issue the order, take receive the prepayment with the '''Payment''' button, right-click the positive '''Prepayment''' amount, choose '''Fulfill''', and then click the '''Save''' button. In this alternative process, the The journal entries would be identical to those displayed above except for two additional offsetting entries that will would appear in the '''Accounts Receivable''' account. The sales order in Fishbowl would also reflect the actual order total instead of zero.
== Purchase Order {{top}} ==

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