In any case... it should be a liabilty account ("internal transfers" as
mentioned by Marjan is), because they owe you money, until they deliver.
Bert.
On Wed, Mar 10, 2010 at 10:51, Iserv-appbox <[email protected]> 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,
> tux4u.nl
>
>
> Joseph wrote:
> > On 03/09/10 14:15, Chris Travers wrote:
> >> On Tue, Mar 9, 2010 at 11:32 AM, Joseph <[email protected]> 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
> > statement.
> >
>
>
>
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