Hello community,
In terms of items, it's possible to declare that a prepayment was made in return of goods, by setting the In-Transit Stock account from the Advanced GL Account Determination,
and by use the A/P Reserve Invoice it's possible to have the amount of goods represented in the Balance Sheet, then after receiving the ordered goods by {Goods Receipt PO} document,
SAP B1 will convert the goods amount from the In-Transit account to the related inventory account.
How is it possible to implement the Fixed Assets prepayment in the same scenario, which is let us declare there are ordered FA to be represented in the Balance Sheet, as the following JEs:
Prepayment to Vendor: Dr. Vendor Cr. Bank/Cash
Declare the prepayment in the Balance Sheet: Dr. Ordered Fixed Assets Cr. Vendor
Receiving Fixed Assets: Dr. Related Fixed Assets Cr. Ordered Fixed Assets
Thanks and Best Regards,
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.