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Qiu's avatar
Qiu
Contributing User
10 months ago
Solved

Customer deposit account

Hi there,

I have a liability account for customer deposit for their orders, so when customers paid their order, it records : DR Bank, CR Customer deposit liability; when order convert to invoice, it records: DR Customer deposit liability CR Sales income.

But when I run the accounts transaction report for the account "customer deposit", it only shows Debit side transaction, not the Credit side. It leads the deposit account balance becomes biger and biger. 

While running General Ledger report for this account, it shows both DR & CR side. 

Is anyone knows what is the issue? 

The balance of "customer deposit"should be only those orders paid but haven't invoiced yet, how can I reconcile it now?

  • Mike_James's avatar
    Mike_James
    10 months ago

    Hi Qiu , regarding the entries made, when the order is converted to an invoice the entry will be DR deposits account, CR Accounts Receivable (which will offset the invoice added to debtors control account).

     

    I think there is a long-standing reporting issue with the Account Transaction report where if only one account is selected, the credit entries will be omitted. So you should rely on the general ledger detail report, and also check the balance of the deposit account to a balance sheet report or the Find transactions (Account) window. 

     

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  • Mike_James's avatar
    Mike_James
    Ultimate Partner
    10 months ago

    Hi Qiu , regarding the entries made, when the order is converted to an invoice the entry will be DR deposits account, CR Accounts Receivable (which will offset the invoice added to debtors control account).

     

    I think there is a long-standing reporting issue with the Account Transaction report where if only one account is selected, the credit entries will be omitted. So you should rely on the general ledger detail report, and also check the balance of the deposit account to a balance sheet report or the Find transactions (Account) window.