Need a guide line,
1- i generate sales invoice to customer “A”.
2- customer “C” says now my “Bill 1” is liability on customer “A” because i have sold my business to him.
3- i generate the JV as Customer “C” Credit, Customer “A” Debit.
4- Customer “A” return the stock against “Bill 1”, i generate Credit Note, without selecting the Invoice. All OK.
5- Now i make the New Invoice to Customer “A”, that Credit Note Automatically reflect in to new invoice and Less the bottom of it.
Am I Doing something Wrong?
why customer C would say invoice is liability of customer A when you already invoiced it to customer A? if you invoiced customer A then automatically it is the liability of Customer A.
maybe you intended to type you invoiced to Customer C.
everything is correct if Customer A had paid you for the invoice before returning it.
Dear @sharpdrivetek Customer “C” Sold his Running business to Customer “A”, with all his liabilities, the problem why Credit Note is reflecting in New invoice, it has to reflect in Party Ledger Only.
the party ledger is the Accounts receivable account in Manager. all customers are subaccounts of Accounts receivable.
so issuing a credit note for a customer will create a credit balance in the Accounts receivable account of Customer A which will then be utilized for the subsequent debit transactions (Sales Invoice).
If the business is sold with all liabilities, why not just edit the name of the customer?
@Tut, Supplier don’t want to change the name of customer.
Then I do not see why any action is necessary. You issued the sales invoice to a customer—that is, to a business. That customer owes money, regardless of whether ownership changes. Arrangements between former and current owners of the business are not your concern for accounting purposes.