Re: voucher

Hi ario,

On Sat, May 18, 2013 at 10:18 AM, ario <..hidden..> wrote:

I tried to enter a prepayment done to somebody for future work, but get
a 'no overpayment account specified' error in 'Cash|Payment'.

Ok, INAA, but I take it an account in the CoA is required with the
'Overpayment' flag set.

Exactly.

Should this be a newly created assett account for this purpose
(prepayments) only, to check later for zero balance?

Well, prepayments for services to be delivered (by you) are debts to the customer, so should be recorded in Liability accounts. However, if you pay someone for services they will deliver to you some day, that's an asset.

This leads to the conclusion that an AR prepayment account should be configured as a liability and an AP prepayment account should be configured as an asset.

Then, in this specific case, should the 'Overpayment' flag be set on the
'Payables', or on the 'Receivables' line in the 'Edit Account' screen?

Well, that depends. If I understand correctly, you paid someone to deliver work to you on a future date. Then, that's an overpayment in the payables side, so you would configure an asset account with the "Overpayment" flag on the Payables line.

I think a separate account per person or group would be appropriate, no?

There's no need for that: the system will track separate balances per counterparty -- using the single account you'll configure.

Thanks for your time

No problem. If you have any more questions, don't hesitate to ask!

Bye,

Erik.Â