Receive advance from customer

SHAHZAD (B.Com) (52 Points)

07 April 2015  

Dear ALL,

 

If we receive advances from our customer then we pass this entry

 

Cash Account (Dr.)

Unearned Income (A/R)  (Cr.)

 

and later we send good to our Customer then we pass

 

A/R  (Dr.)

Sales / Inventory   (Cr.)

 

if we receive Rs. 50,000 in advanced and send goods less amount

for example we send 40,000 its means we pay 10,000 to our customer

 

my question is how to record this transaction in Peachtree

 

Thanks