Dummy Customer - Cash Sales

ttssiong

I created a dummy customer and set the posting group to the Cash G/L account. Then in the invoice I can do a cash invoice. But the problem is the invoice is open where it supposed to be closed. What I intend to do is doing some of ammendments on coding just to close that particular customer ledger entry.

This solution may not be good ideal. Is there somebody have more better alternative for this purpose. Thanks in advance

horrigan

[replaced by next post]

[This message has been edited by horrigan (edited 27-02-2001).]

horrigan

You might want to look at the Sales Journal. I believe you can use this to balance Sales of an Item (or Resource or G/L Account or Fixed Asset, as the case may be) against something other than a Customer (e.g., a Bank Account or a cash G/L Account.) It's an easy three step process this way: Debit, Credit & Post!

The way you're doing things, you have to post the invoice and apply the payment in more than three steps.

Some of my (former) clients have handled this by setting a Customer card for their own company and selling items to themselves. That isn't any easier than selling to a dummy customer.

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Tim Horrigan, NCSD
<Horrigan@AOL.com>

Currently in search of new employment!

Certified as a Solution Developer and an HR/Payroll Specialist!

Dave_Cox

This is really a training Issue!

Have a look at Navisions Cronus "Payment Method Code" setup

Code = CASH
Description = Cash payment
Bal. Account Type = G/L Account
Bal. Account No. = 2910

If your raise an "Invoice Document" for your "Cash Customer" the entry it is posted paid to the "Cash Account" and closed all at the same time!

No open Customer Entries.

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However if you want to use a Sales Journal it is still standard with a different method.

Create your Invoice line say from Customer to "Software Sales"
Then directly under your "Invoice Line" create a Payment from the Customer to the "Cash acount"

Then simply use the "Applies to Doc. Type" = Invoice and "Applies to doc. no." = the (Invoice)"Document No." from the journal line above this will then close the Invoice by the Payment at the time you post the transaction.

Saving the applying and payment posting later

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Requires No Coding or Modification just User training!

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MindSource (UK) Limited
Navision Service Partner

david@mindsource.co.uk
info@mindsource.co.uk



[This message has been edited by Dave Cox (edited 27-02-2001).]

ttssiong

I got it. I think using the Payment Method Term is good. We can keep the invoice document and the invoice is closed automatically.

But I found that there are five G/L entries created.
Invoice:
Debit Acc Receivable
Credit Sales
Credit VAT
Payment:
Debit Cash
Credit Acc Receivable

It is better if the transaction only creates three G/L entries
Credit Sales
Credit VAT
Debit Cash
--> not necessary to go through account receivable. Cash Sales is not Credit Sales. So it is not necessary to put a entry in Account Receivable and knot off it afterward.


Thanks


[This message has been edited by ttssiong (edited 28-02-2001).]

Dave_Cox

The net effect on the receivables is 0, with a good Audit trail so it should not matter.

If you want to seperate them use a different "Customer Posting Group" Setup for your "Cash Customers" with a different "Receivables Account"



[This message has been edited by Dave Cox (edited 28-02-2001).]

ttssiong

But this won't close the customer ledger entry - Invoice.

Dave_Cox

The Cash "Payment Method Code" fields close the Invoice
Bal. Account Type = G/L Account
Bal. Account No. = 2910

If you want the Receivables to go through a Different Debtors Account use the "Customer Posting Group".

---

MindSource (UK) Limited
Navision Service Partner

david@mindsource.co.uk
info@mindsource.co.uk