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Robincoded
Level 1

Credits and Bills

Hi,

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
Best answer March 15, 2021

Best Answers
JessT
Moderator

Credits and Bills

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.

View solution in original post

3 Comments 3
JessT
Moderator

Credits and Bills

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.

Robincoded
Level 1

Credits and Bills

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 

Robincoded
Level 1

Credits and Bills

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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