how do I clean up customer deposits that either will not have an invoice to offset it or will not be refunded back to the customer.
You can do DEBIT MEMOS to clean the customer accounts up. Apply to Sales Adjustments.
You can do a Debit memo to zero out the open deposits. When in Distribution, the system defaults to the Sales Adjustment account (defined by your company in AR, Utilities, Maintain AR Parameters-Posting…
I couldn't have said it better Coleen. Thanks for the details.
You can do a Debit memo to zero out the open deposits. When in Distribution, the system defaults to the Sales Adjustment account (defined by your company in AR, Utilities, Maintain AR Parameters-Posting Accounts)
It is an accounting decision on your part where you want to distribute – it you want Sales adjustment, Bad Debt, or a particular Sales account you have defined. If you are not sure where to distribute for your company, please consult with your accountant.
If you would like additional information on Debit memos or credit memos please go to SageKB.com and search on the following articles.
How to write off open credits or open deposits not used by customers (39650)
How to enter debit memos and credit memos in Accounts Receivable (18245)
Sincerely,
Coleen
I couldn't have said it better Coleen. Thanks for the details.
I couldn't have said it better Coleen. Thanks for the details.
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