Anyone seen a Deferred Revenue Report

AaronG

I am working with a client in Vancouver, BC, Canada who charges customers prepayments on products ordered. When the customers pay the prepayment invoice, my client ships as much as possible of the sales order quantity. When there is a partial shipment/invoice (less than full quantity) - the amount which has been "paid but not yet shipped" needs to be adjusted at month-end and reclassified for the production of financial statements. Currently this is manually adjusted by journal entry. They've asked me for a report which calculates this value by sales order to automate this tedious process of manually creating the journal entry.

I've designed the appropriate report, but would like to see if anyone else has run into this issue in the past, and possibly is there is an easier method of pulling the data for this report.

Thanks

john_bellinger

AaronG,

Are you using NAV Prepayment process? Why does that not work? When you post the “prepayment invoice” NAV books (assuming the appropriate posting setup);

Dr. A/R
Cr. Customer Deposit

When the shipment/invoice is posted (for partial shipment) NAV books;

Dr. Customer Deposit
Cr. Revenue

Assume a prepayment of $200 and then shipping/invoicing $100 of the order. You’d get these entries;

Prepayment Invoice
Dr. A/R 200
Cr. Customer Deposit 200

Ship/Invoice (partial)
Dr. Customer Deposit 100
Cr. Revenue 100

You’re books would show balance of;
Customer Deposit 100
Revenue of 100

?