Hi, Erik,
The credit invoice created a negative entry in AR, not AP. Since there
will be no future transactions with the tenant, I need to write them a
check. The AR want to receive a the check is coming from the tenant in
the amount of -$300. Seems to me that I need to have an entry from the
Security Deposit account to AP, then cut a check from checking to close
the AP entry. I could be wrong, but this seems upside down.
--
Regards,
Bill Ott
Cell: 919-434-7589
Email: Mailto:bill...@theotts.org
Website: http://www.theotts.org
Profile: http://www.linkedin.com/in/wbott
On 08/07/2013 11:05 AM, Erik Huelsmann wrote:
Hi Bill,
On Wed, Aug 7, 2013 at 4:59 PM, Bill Ott <bill...@theotts.org
<mailto:bill...@theotts.org>> wrote:
I am running a small building with 17 tenants. I collect security
deposits at the beginning of the least from each "customer". At
the end
of the least I need to return the deposit. I need the customer to
be a
vendor in order to move the deposit to accounts payable and then pay
them from checking. Is there any way short of duplicating the customer
as a vendor to allow this transaction?
My immediate thought is to use a credit invoice to return the money to
the customer: simply post a credit invoice and either clear that
against other amounts due from the customer, or clear it against an
outgoing payment to the customer.
If you have any issues with that workflow, I'd like to know about it.
--
Bye,
Erik.
http://efficito.com <http://efficito.com/> -- Hosted accounting and ERP.
Robust and Flexible. No vendor lock-in.
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