Contact: Prepayment - Show on statement with negative balance
To show a negative number in customer balance, when customers have a prepayment.
Purpose: To make users easier to see any prepayments that were made by their contact in Xero.
AdminXero Team
(Admin, Xero)
shared this idea
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Katie Abbott-Hadadine
commented
When payments on account are made by a customer and a client is in credit a prepayment has to be posted, however this does not show on the receivables listing or client account as a credit it still shows nil - so unless you are aware of this and run a separate individual report for each customer true balances for customers cannot be tracked easily. Would be not be possible to add a report or additional column for customer balances inclusive of prepayments? The only way to track this is then manually reconcile the debtor prepayments control account which will become more and more time consuming over time as transaction numbers increase.
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Fionnbarr Kennedy
commented
To me this is just BASIC. If you Prepay the account is in Credit. Xero should reflect this - your way is disingenuous and not correct accounting practice (at least not to my "old fashioned" way of thinking. Please change this
Thank you
Fionnbarr