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My client paid a supplier $1000 to purchase goods, but goods worth $500 were supplied, and later during the year another $200 worth of goods was supplied.
How do I record the purchases and suppliers credit?
Solved! Go to Solution.
Hello Robincoded,
Your client can record their payment as advanced payment and track it under an asset account. Then, just deduct their future bill payments, like the $500 and the $200.
You can share this article with your client for their reference: Record vendor prepayments or deposits for prepaid parts or services.
If you need more help, feel free to go back to this thread.
Hello Robincoded,
Your client can record their payment as advanced payment and track it under an asset account. Then, just deduct their future bill payments, like the $500 and the $200.
You can share this article with your client for their reference: Record vendor prepayments or deposits for prepaid parts or services.
If you need more help, feel free to go back to this thread.
Thanks a bunch, but it implies that I won't be able to view my suppliers balance in real time.
Your answer was really helpful
Thanks a bunch, though I won't be able to view suppliers balance in real time.
Your answer was really helpful, thanks.
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