Difference between revisions of "How do I deal with contras?"

From Catalyst
Jump to: navigation, search
Line 16: Line 16:
  
  
{{Note|text=It is advised for the Payment centre that the amounts are paid of to are a form of suspense account as standard this would be '''Z990 - Suspense Account". Try and avoid the Bank Accounts as no money exchanges Hands.}}
+
{{Note|text=It is advised for the Payment centre that the amounts are paid of to are a form of suspense account as standard this would be '''Z990 - Suspense Account.''' Try and avoid the Bank Accounts as no money exchanges Hands.}}
  
 
{{Warning|text='''The Amounts to be paid of and Contra have both got to be the same value for the contra to work.'''}}
 
{{Warning|text='''The Amounts to be paid of and Contra have both got to be the same value for the contra to work.'''}}

Revision as of 16:33, 19 September 2008

Summary

This article will explain what a contra is and how to handle one within the Platinum System.

Additional Information

A Text book definition "In accounting, a contra entry is one which is offset by an opposite entry, either a debit or credit." in Platinum this would be an invoice on a account being paid off by a payment on a different account.

It is possible to Contra between two sales Ledger accounts, two Purchase Ledger accounts or one of each.

Sales Ledger to Sales Ledger

To contra Between two Sales ledger accounts you will need to go to "Sales Ledger" > "Receipts".

  • At the "Account:" enter the first account that has the payment on.
  • Arrow Key down to the Payment. Press <F> for full payment this will move the amount in "Balance Held" and place it in "Payment".


It is advised for the Payment centre that the amounts are paid of to are a form of suspense account as standard this would be Z990 - Suspense Account. Try and avoid the Bank Accounts as no money exchanges Hands.
The Amounts to be paid of and Contra have both got to be the same value for the contra to work.


Feedback
Thank you for using our Knowledge Base, we value your feedback. Did you find this article useful? 'Yes' or 'No'
Keywords AND Misspellings
contra, payments