Difference between revisions of "How do I account for retained deposits?"
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==Summary== | ==Summary== | ||
| − | The following article explains how to deal with any retained deposits for vehicle sales orders that have fallen through and for which you are keeping the deposit. | + | The following article explains how to deal with any retained deposits for vehicle sales orders that have fallen through and for which you are keeping the deposit. Since no taxable sale has taken place and the contract has been broken, you should not need to account for any V.A.T. on this money. |
==More Information== | ==More Information== | ||
| − | {{Note|text=Once you have [[How do I refund a vehicle deposit?|cancelled the sales order and chosen not to refund the deposit]], the amount held on the | + | {{Note|text=Once you have [[How do I refund a vehicle deposit?|cancelled the sales order and chosen not to refund the deposit]], the amount held on the customer's account will need to be paid off to a relevant nominal centre using {{Menu|Sales Ledger|Receipts}}.}} |
Go to {{Menu|Sales Ledger|Receipts}}. | Go to {{Menu|Sales Ledger|Receipts}}. | ||
* At {{DataPrompt|Customer:}} type in the Customer's account code if known, or [[How do I Find a Customer?|search]] for a Customer. | * At {{DataPrompt|Customer:}} type in the Customer's account code if known, or [[How do I Find a Customer?|search]] for a Customer. | ||
| − | * Select the document | + | * Select the document that you wish to clear. |
* Press {{KeyPress|F}} and {{KeyPress|Enter}} to pay the amount in full. | * Press {{KeyPress|F}} and {{KeyPress|Enter}} to pay the amount in full. | ||
* Press {{KeyPress|Escape}} to enter the payment details. | * Press {{KeyPress|Escape}} to enter the payment details. | ||
Revision as of 11:27, 30 April 2010
Summary
The following article explains how to deal with any retained deposits for vehicle sales orders that have fallen through and for which you are keeping the deposit. Since no taxable sale has taken place and the contract has been broken, you should not need to account for any V.A.T. on this money.
More Information
 | Once you have cancelled the sales order and chosen not to refund the deposit, the amount held on the customer's account will need to be paid off to a relevant nominal centre using " Sales Ledger Receipts". |
Go to " Sales Ledger Receipts".
- At "Customer:" type in the Customer's account code if known, or search for a Customer.
- Select the document that you wish to clear.
- Press <F> and <Enter> to pay the amount in full.
- Press <Esc> to enter the payment details.
- Enter an applicable comment e.g. 'Deposit Kept'.
- In the "Centre", enter an appropriate Nominal Centre code, or create one.
- Press <Esc>.
- Choose [Accept] to post the payment.
