<![CDATA[FrontAccounting forum — Effect of "Allocate Customer Payments or Credit Notes" on our books]]> https://frontaccounting.com/punbb/viewtopic.php?id=7396 Mon, 12 Mar 2018 23:23:28 +0000 PunBB <![CDATA[Re: Effect of "Allocate Customer Payments or Credit Notes" on our books]]> https://frontaccounting.com/punbb/viewtopic.php?pid=31105#p31105 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.

]]> Mon, 12 Mar 2018 23:23:28 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=31105#p31105 <![CDATA[Re: Effect of "Allocate Customer Payments or Credit Notes" on our books]]> https://frontaccounting.com/punbb/viewtopic.php?pid=31100#p31100 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.

]]> Mon, 12 Mar 2018 13:50:32 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=31100#p31100 <![CDATA[Effect of "Allocate Customer Payments or Credit Notes" on our books]]> https://frontaccounting.com/punbb/viewtopic.php?pid=31096#p31096 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.

]]> Mon, 12 Mar 2018 10:41:04 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=31096#p31096