Paid On Account
An account says I have a 'paid on account' amount!
Goldenseal accounting software keeps track of payments made 'on account'. It applies them to future bills. The system is slightly different for customers and vendors.
If you create a bank deposit from a customer and enter On Account into the Transaction Paid field, Goldenseal will add the amount to that customer's 'on account' balance.
Goldenseal will also add to the 'on account' balance when a customer overpays for a sale transaction or project work.
The next time you use the Billing command to view accounts receivable for the customer, Goldenseal will subtract the amount previously paid on account.
HINTS-- If you receive payment from a customer for a sale made before you started with Goldenseal, enter the sale anyhow, and then enter the sale into the Transaction Paid fields in the deposit. That way Goldenseal will not put it 'on account'. If you receive an advance payment for project work, enter it as a payment from the Project account, rather than from the Customer.
If you write a bank check or bank payment to a vendor and enter On Account into the Transaction Paid field, Goldenseal will add the amount to your 'on account' balance with that vendor.
Goldenseal will also add to the 'on account' balance if you pay a vendor more than you owe them.
The next time you use the Pay Bills command to view accounts payable for the vendor, Goldenseal will subtract the amount previously paid on account.
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