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Re: Pre-paid inventor

I think we would call that a clearing account.


On Wed, 10 Mar 2010, Iserv-appbox wrote:

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.

Marjan Waldorp,

Joseph wrote:
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?"

Best Wishes,
Chris Travers

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

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