when i enter customers credit entry from jounal vouchers why does it show under “less credit” tab in aging report alsow blance show in negavtie amounts
Welcome to the forum @ali_imran1,
Please share screenshots of what you see.
lmt1=25000 is entry form sales invoice and other are from journal voucher which are showed under less credit
The value under the columns Current through 90+ days are totals from Sales Invoices and any Receipts, Journal Entries or other transactions that are applied against an invoice would be directly deducted from these figures.
Whatever other entries you made to Accounts Receivable that weren’t applied to Sales Invoices will show under Less: Credit column as seen here.
The screenshot you provided says that you have entered negative credit amounts (which makes them debits in effect) that were not applied to any specific Sales Invoice.
Could you please share what you see when you drill down “LMT1”?
it was a simple jv entry we gave an amount to the customer as a credit. from date we made credit it should be under 1-30 slab in aging report.also these entires were Debit (receivable from the coustomres) and it is shwoing here in negative. please do the needful im realy confused how to handle these
It’s clear from the entry that you haven’t credited the customer account. In fact the amount going to Accounts receivable is Debit.
The report is correctly showing this Debit as a negative Credit. This is correct on Manager’s part.
@ali_imran1, the entry you just shared has the exact effect of a Sales Invoice, which begs the question: why not just use Sales Invoices, Credit Notes and Receipts to manage your Accounts receivable? As this would avoid all confusion.
in sales invoices, manager gives only one customer at a time BUT we have to handle mutiple customers and the expenses which has made from this invoice. i show you the example it will c
lear the dought
Unfortunately, there’s a tradeoff to be made here. Either:
-
Make use of Sales Invoices tab and get all related reports
-
Skip invoicing for Journal Entries which may seem quicker but then comoromise your Aging report.
Personally, I’d go with 1 but maybe if you can explain why you can’t use Sales Invoices, maybe I can appreciate your situation a bit more.
How many Sales invoices your issue daily? Also, do you use another system for generating invoices?
Thanks alot Sir!
i am unable to use Sales invoices beacause i have to balance sale inovice of our supplymen at the once. the stock he received he has to give the details how he has sold the stock in the market for instance
he sold stock value of 15000
form which he gave 10000 cash
credit to the party 1= 1500 dr
credi to anohter party2=1000 dr
fuel expense =1500
other expense etc=1000
these all entries should be in one place so whenever i will have to check that sale invoices it will give us the whole detials about that sale invoice . so we use journal voucher bcz sale invoice only gives one customer party at the one time and we can track the whole sale invoice at the once and how will i balance the sale inovoice value if i use single single entry
The problem is that the aging only works for invoices.
Looking back at your example above, I would split the entries like this:
-
Sales invoice of 35000 for LMT1
-
Sales invoice of 5000 for LMT2
-
A receipt for 35000 for all others
This should do the trick
so how can we balance remaining entries is there any way to do in Jv. how to balance sale of 75000 if we make credit entries through sales invoces what about others fuel expense or food expense and most importnat the difference of credit amount which we has made through sales invs what entry we will do for 40000 rupees of that credit
The receipt for the remaining balance goes something like this:
| Account | Amount |
|---|---|
| Sales | 35000 |
| Fuel Expense | -2500 |
| Food Expense | - 1500 |
| Supplyman A/C | - 6000 |
Total received |
25000 |
1 Like