Special General Ledger

Question

Hi to all,
           My question is that, why we put down payment received and down payment paid in special G.L. though we can direct post it into G.L.
and Second question is that how we process these down payment after settlement of full amount paid or received.
Please give answer as early as possible, i will be thankful to you

Answer 1

Hi
Special G-L Transaction are the transaction in AR & AP. Which are displayed separately in the sub ledger
This may be required for Internal Reason or for Particular Reporting Purpose
It is for down payment made or Down payment received.
We will be using a Spl G-L transaction “: A” while posting.
It will effect the reconciliation account or else it will effect the individual account.
We have received advance from Customer.It is a Liability
Once the goods are supplied to that particular Customer. This advance will be adjusted against the sale amount.
FLOW OF DOWN PAYMENT  Vendors
Down Payment Request :     F-47
Down Payment Posting :     F-48
( Spl G/L = “A”)
Purchase Invoice Posting :             F-43
Transfer of advance payment
from spl ledger to Normal Ledger      F-54
by Clrg Spl Ledger    
Clearing Normal Items                 F-44    
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