Prepayments
This applies to sales and purchases.
I think Xero product ideas has been as effective as screaming into the void ... however that did not work so I will try Xero Product ideas.
- Every time I have seen a Xero company use Prepayments it has been a ... mess.
- Users have prepayments going to various accounts, some with GST and some without and there are transactions in the Prepayments accounts that were not processed as Prepayments.
- You end up with prepayments scattered over the balance sheet, amounts in Prepayments that are not prepayments, and some have GST and some not. Reconciling prepayments reports to the ledger is nigh on impossible.
- My suggestion. One account for customer prepayments and one for supplier prepayments that can only be accessed by the prepayments option in bank reconciliation screen and cannot be posted to any other way. And enforce a GST or no GST in these accounts.
- I am going to scream into the void now.
1
vote
Alex Scobie
shared this idea
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