openerp-expert-accounting team mailing list archive

[Gustavo Adrian Marino <gamarino@xxxxxxxxx>]

Here in Argentina we use for prepayment invoices a special product, with an
income account that represent the liability

I am not an accounting, I will try my best

When you confirm the prepayment invoice, you will have a movement between
Debtors, received VAT, and the Payment in Advance (a Liability).
After payment of the prepayment invocie, you will end with a debit in cash
or bank and a credit on Payment in Advance, reflecting the fact you have
got money and a debt

When the actual goods are delivered, revert the liability (with a refund of
the prepayment), and thus you have a debit on received VAT, a debit on
Payment in advance (cancelling the debt), and a credit on customer account
(exactly the same situation as a normal payment from the customer).

Then you can proceed to cancel the real final invoice, using the customer
credit plus any additional customer payment

Of course, you have always the posiibility to get a payment WITHOUT invoice
from the customer in advance, that will generate a credit on his account
that can be used at the end to pay the final bill. But, from the legal
point of view, it is not the right way of doing things, allthough is a
common practice

Regards


2013/11/21 Ferdinand <office@xxxxxxxxxx>

>  On 2013-11-21 07:10, Nhomar Hernández wrote:
>
> IMHO all this must be "hidden" from end users.
>
> a possible way is to link a "debtor liabilities" account to every
> receivable account and a creditor receivables to each liabilities account.
>
> rules:
>
>    - if the balance of a receivable account of a partner becomes a
>    liability the amount is automatically transferred to the liabilities
>    account and back if the condition does not exist any more.
>     - for reconciliation the moves of both general accounts must be
>    listed and in case of reconciliation the necessary move lines must be
>    created in the background.
>
> this simple solution worked for us already many years in our previous
> accounting system.
>
> this solution complies with the general rule that receivables and
> liabilities of different partners must not be balanced (as it is now)
>
> hope that helps
> regards
> ferdinand
>
>
> 2013/11/21 Ferdinand <office@xxxxxxxxxx>
>
>> In the USA, money you receive from a customer prior to goods or services
>> being provided is a LIABILITY, not revenue, so it cannot be credited to AR.
>
>
> I am sorry if I make a confusion.
>
>  When I said "Prepaid - Income" It is:
>
>
>  http://accounting-simplified.com/prepaid-income.html
>
>  Sorry for the confusion.
>
>  Regards.
>
>  BTW in OpenERP we are managing with "receivable" account, but it is seen
> ugly by some accountants.
>
>
>
>
>  --
> --------------------
> Saludos Cordiales
>
> Nhomar G. Hernandez M.
> +58-414-4110269
> Skype: nhomar00
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>
>
>
> --
> Ferdinand
>
>
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-- 

Gustavo Adrian Marino

Mobile: +54 911 5498 2515

Email: gamarino@xxxxxxxxx

Skype: gustavo.adrian.marino