Apply a Prepayment to an Invoice in Xero

Поділитися
Вставка
  • Опубліковано 14 січ 2023
  • Learn how to offset a prepaid amount against a new sales invoice, so you and your customer know exactly what's owed.

КОМЕНТАРІ • 10

  • @onnbonna856
    @onnbonna856 10 місяців тому

    This is already cool, man but can you teach us more about how to enter unearned ( something like school payment) how can we enter it in Xero? example: My student paid 1000 dollars for the beginning for the term, so how can I enter it?

    • @xeroguru
      @xeroguru  10 місяців тому

      Thanks for the comment! 🙂
      If you’ve received a payment in advance (or payment upfront), this video explains how to record that in Xero: Record a Prepayment from a Customer in Xero
      ua-cam.com/video/O9yzf9r9ZlE/v-deo.html
      Let me know if that helps, or if you’re looking for something else?

  • @syedakinza2457
    @syedakinza2457 3 місяці тому

    I am confused how did you get $8000, or it was automatic? in my demo company i get 2000 credit only?
    can we reset the demo company bank reconciliation?

    • @xeroguru
      @xeroguru  3 місяці тому

      Hi there 👋
      For the $8,000, that’s what I entered into the invoice. (I just used a fade transition in the video to make it quicker than watching me type out everything).
      The $2,000 credit came from a prepayment transaction I created in a previous video (Add a prepayment).
      So essentially, I create a new invoice for $8,000 and can apply the prepayment I’d created earlier against it.

    • @xeroguru
      @xeroguru  3 місяці тому

      You can reset the xero Demo Company anytime you want.
      This chapter from my bank rec tutorial shows you how:
      ua-cam.com/video/hRtD7xIv_V4/v-deo.html&si=DIVkKbYFs8_M2RzY
      (If that link doesn’t take you straight to that chapter, then the bit about the demo company starts at 39 seconds)

  • @elijahmwale5442
    @elijahmwale5442 8 днів тому

    This feels like a lie, tried it ( didn't work) unless you say i was doing the wrong thing

    • @elijahmwale5442
      @elijahmwale5442 8 днів тому

      your method seems okay in theory but i think it doesn't work for all industries.

    • @elijahmwale5442
      @elijahmwale5442 8 днів тому

      lets say hospitality for example, can it work for that or am I overreaching?

    • @xeroguru
      @xeroguru  8 днів тому

      If you’ve received money in advance of raising a sales invoice (and doing the work), the method is the same irrespective of the industry.

    • @xeroguru
      @xeroguru  8 днів тому

      @elijahmwale5442 industry doesn’t affect this. The accounting principle is the same.