Receipt / Deposit Questions

Use a "Contra" transaction to apply the lesser of the amounts owed to you and owed by you to both the Receivables and Payables tab of the Contra.  The Contra must have the same amount entered on both sides in order to Process.

The amount left over will now be available to pay via a Vendor Payment or to receipt via a Customer Payment.

The Deposit must be removed from the stock card before a Non-Delivery can be done.  From the Settle tab of the stock card, edit the Deposit field and use the Cancel Item button at the bottom to remove the Deposit.  You will be prompted whether the deposit has been banked or not.  Answer Yes.  A General Journal is then automatically created to move the deposit money from "Deposits Taken" to "Non-Delivery Refunds".

Firstly you must remove the Deposit from the stock card, and confirm that the deposit has been banked.  (If it has not yet been banked, you must answer Yes anyway, and ensure the deposit does get banked in full.)  To retain the full deposit, create a General Journal entry Debiting the "Non-Delivery Refunds" Liability account for the full value of the deposit (GNA), and Crediting the "Retained Deposits" Other Income account for the same amount (GST).  To retain a partial deposit, create a Cash Payment entry to the Customer with the first line item allocated to the "Non-Delivery Refunds" Liability account for the full value of the deposit (GNA), and the next line allocated to the "Retained Deposits" Other Income account for the amount to be retained expressed as a negative (minus) (GST).  This will leave a net amount payable to the customer.

Open (Edit) the original Customer Payment transaction and using the "Undo Receipt" button, select "Dishonour Payment".  A new Customer Payment transaction window will appear that reverses the original one.   Ensure the bank account selected is the correct one, it should be the normal trading account to which the dishonour has been debited by your bank, and press Process.

Because the amount has been banked and will appear on a Bank statement, the transaction can't be deleted.  Open the payment transaction and use the "Remove" button.  This will retain the transaction but move it from the original stock card and into the "Non-Delivery Refunds" Liability account.  From there you can record a payment back to the customer by allocating a Cash Payment to the "Non-Delivery Refunds" account.  The original Sale will now be showing as outstanding and the stock card can be "Non-Delivered" and moved back to instock status.

This is correct even though it appears unusual.  The first sequential Sale Number created represents the total of extras sold to the purchaser, and is applied to an income account.  This is the money the dealer is keeping from the sale of extras.  The second sequential Sale Number represents the full amount that the purchaser owes including extras, and is directed to the Trust Account via the Consignment Clearing account.  After the customer has paid this invoice, you will then pay the proceeds out of the Consignment Clearing account - part goes to the Vendor, and part goes to your own trading account as income in payment of the first Sale Invoice.

A stock deposit entry can only be deleted from the stock card Settle tab, and not from within the accounting Deposit entry, so this transaction cannot be removed now.  You'll need to create a reversing entry to remove it from your accounts.  Create a Cash Payment to the original customer, dated the same as the deposit, and using the same bank account as the deposit entry.   Allocate the payment to the Liability account Non-Delivery Refunds.   The cash payment transaction can be ticked off in your bank reconciliation along with the deposit entry and both will be cleared out even though neither will appear on a bank statement.