Re: How to handle periodic cash reciepts vs. non-periodic accounts payable?

["Chris Travers" <..hidden..>]

It is a good idea.  Not necessarily strictly required for a small
business like that, but it contributes to clarity, which is a good
thing as far as I can see :-)

I handle things this way:
Prepayments are tracked in a liability account.
Overpayments are tracked in the AR account.

Best Wishes,
Chris Travers

On 9/25/06, David Tangye <..hidden..> wrote:
> On Mon, 2006-09-25 at 18:57 -0700, Chris Travers wrote:
> > It is
> > probably better to create a liability account for tracking this.
> > Check the AR checkbox, so that it appears in the AR dropdown menu.
> > Then you can track the prepayments better.
> Does he need a separate account just for the overpayment component? (I
> hope not.)
>
>
>
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