Hello all
I’m currently evaluating ERPNext to use in my Import Export company.
I have a certain case I don’t know how to implement
Quotation 1 sent to the customer for 17 Ton of item x for 860$ CFR total 14,620$
Custom asked for extra service (not quantity)
a new quotation 2 sent to 17 ton 1075$ CFR Total 18,275$
the customer issued LC for quotation 1 by mistake for 17x860$ 14620$
and made bank transfer with 3655$
amount arrived 3625$ (30$ bank fees)
Order started and due to some problems with materials suppliers delivered 15 ton with 975$ CFR
Invoice sent with shipping docs 15 x 975 14,625$
LC Released , 14,625$ transferred LC Fees 51$, 75$, 35$, 40$, 115$ and 108$
Customer total payment 18,275$ for goods invoice 14,625$
the customer was refunded 3650$
Bank Fees 35$
If this refund is not against any item or sales invoice (like in the case of sales return) then you should create another Payment Entry itself when Payment will be made to the Customer. Please give it a try.
If it involves return of item qty and reduction in the receivable, then Sales Return entry should be create.
Bank Fee and LC Fees better managed with the Payment Entry itself. If they are added as a line items in the sales invoice, then should be easy to handle in the return invoice itself.
for example
when trying to make manual entry for the customer, I got the following message
Cannot Pay to Customer without any negative outstanding invoice.
journal entry work around is OK
I made Journal Entries - Bank Entries for LC and Bank charges and fees
now I see that Project Cost sees only purchased invoice, no payment of Journal entry.
Profit per project is important for me
is there a possibility to include payment and journal entry in Project COSTING AND BILLING and MARGINS?
To track profitability, you need to tag cost center against Income and Expense Account. That’s sufficient to track project-wise profitability. In the payment entry, you generally how Payable/Receivable account against Bank/Cash account, and both of them happens to be the Balance Sheet account, hence Cost Center is not tagged against them.
Which accounts did you select in the Payment Entry? In the Journal Entry, you can select Cost Center with the P&L account.