Cannot pay to customer without any negative outstanding balance

ERPNext Accounting
1

I am trying to reverse an entry in payable that was advance payment and have to be returned back.

I am not able to pass a reverse payment entry back to the customer. What would be the best way? Journal entry of type Payment entry?

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How should we manage security deposits in service industry like gym and property?

2

I am also waiting for this

3

Depends how you entered the Security Deposit in the system.

To remove the cash, which is the same as returning the amount back to the person who have given the deposit. You can pass a journal entry.

4

Any update on this,

5

We used Journal Entry Cash/Bank Entry.

Dr. Bank/Cash
Cr. Security Deposit (Receivable) + Party

When security deposit is returned, then
Dr. Security Deposit (Receivable) + Party
Cr. Bank/Cash

1 Like
6

@aakvatech Thank you,