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Returned Vendor Prepayment Handling

edited Sep 16, 2021 3:04AM in Ask A Guru 4 comments

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:

  1. Considering the vendor prepayment limitations, was this the best way to handle the DD in this scenario?
  2. How can I clear the vendor prepayment so it doesn't end up being used against a future vendor bill?

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