Returned Vendor Prepayment Handling
My colleague made a vendor bill payment. the vendor then took took the bill amount via Direct Debit (DD) but bill was already paid.
To rectify my colleague created a vendor prepayment to reflect the DD. Once the vendor paid back the DD, my colleague created a Deposit.
I have two questions from this:
- Considering the vendor prepayment limitations, was this the best way to handle the DD in this scenario?
- How can I clear the vendor prepayment so it doesn't end up being used against a future vendor bill?