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Kathrynm1's avatar
Kathrynm1
Experienced User
2 years ago

Transfer from deposits

We have a new issue that has come up in AccountRite in the last 12-15 months.   We always raise a Purchase Order for our stock from our supplier...this then has a deposit paid and then the balance before the stock is sent.  When the stock arrives (which can be some months later) we convert the order to a bill so that the stock hits our inventory.

 

What should happen is that the payments that have been made against the Order go to a Stock in Transit account....then on the date that the order is turned to an invoice there is a Journal entry "transfer from deposits".  This has worked perfectly for 13+ years.   

 

Now however when we turn the order to an invoice - the transfer from deposit journal is dated the same date as the original order date eg. months prior.   This is putting my Payables account out of balance massively.

 

There is no way of clicking into the PJ transfer from deposits to amend the date either.   How do we resolve this please.

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  • SamaraM's avatar
    SamaraM
    Former Staff
    2 years ago

    Hi Kathrynm1 

     

    Sorry to see that no one has replied to you yet. When a payment is applied to an order, AccountRight treats that payment as a deposit. The software needs to put that payment somewhere, so that is why it has transfer from deposits where it has put the payment into an account temporarily.

     

    The date that this transaction will use is based on the payment date. So if for example you had a bill created a month ago, if you:

    • Created the bill for a month ago, clicked into payments then created a pay bills for today, the Transfer from Deposits transaction will be dated for today
    • Created the bill for a month ago, clicked into payments then created a Pay Bills for a month ago the Transfer from Deposits transaction will be dated for a month ago
    •  Created the bill for a month ago, entered an amount in the Applied to Date it will be dated for a month ago

     

    So to summarise, if you want to have the transfer from deposits for the later date, make sure you leave the Applied to Date field empty and enter the Pay Bills transaction for the later date.

     

    Hope that helps.

     

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