FrontAccounting forum — Effect of "Allocate Customer Payments or Credit Notes" on our books

Re: Effect of "Allocate Customer Payments or Credit Notes" on our books

2018-03-12T23:23:28Z

I'm not sure if this is any help, but it will move the amount from an account receivable to a bank account, so your assets would stay the same and it has no effect on revenue, because the sale was recorded when the invoice was created.

Re: Effect of "Allocate Customer Payments or Credit Notes" on our books

2018-03-12T13:50:32Z

The Payment Allocation generates a transaction entry for it in each instance. Hence the Balance Sheet AR/AP part of the Trial balance will only change and not the P&L or it's part of the Trial Balance.

Effect of "Allocate Customer Payments or Credit Notes" on our books

2018-03-12T10:41:04Z

Hi all,

How does "Allocate Customer Payments or Credit Notes" affect our books, more specifically trial balance, P&L, balance sheet?

Also I see "credit this" icon on the transaction page on the right side of invoices. What effect does it have on our books when we credit a sale invoice?

Thanks.