Before Kevin makes the down payment, he noted what is special about a down payment to be made.
It is important that the down payment executed during the automatic payment run or manual payment does not reduce the payables but increases the receivables. Therefore, the posting is made with the special G/L indicator A and posting key 29.
What is special:
- The system posts to an Alternative Reconciliation Accounts (down payment) instead of a payable.
- Down payments may not be accounted for with payables for goods and services.
- The down payment request is cleared.