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Re: Pre-paid inventor
- Subject: Re: Pre-paid inventor
- From: Iserv-appbox <..hidden..>
- Date: Wed, 10 Mar 2010 10:51:26 +0100
IMHO the common solution for this kind of problems is to use a "internal transfers"
account. (I'm not sure if I use the correct term. In Dutch we call this "kruisposten".)
When paying in advance you book:
checking account: Credit
internal transfers: Debet
If you connect the internal transfers account with AR_paid, AP_paid, you can "pay"
the real invoice using the internal transfers account as a pseudo checking account.
On 03/09/10 14:15, Chris Travers wrote:
On Tue, Mar 9, 2010 at 11:32 AM, Joseph <..hidden..> wrote:
How to handle correclty pre-paid inventory?
Can you be more specific? What do you mean "pre-paid?"
What I mean is you pay for supplies/goods first before you receive them.
Eg. Supplier sends me "proforma invoice" and I pay it but I don't receive the goods till maybe after two months; meantime I have to reconcile the bank