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Posted by scfundogs on October 23, 2006, 9:43 pm
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> ok, any way to invoice the full amount, and apply a "loan" from my
> company to pay the full amount of the invoice, and invoice the
> customer 24 month installments to pay off the loan maybe? I would
> prefer the customers balance to reflect the monthly payment, rather
> than the full amount owing.
An option would be to create the invoice for the customer (for the initial
sale) which puts the amount in Accounts Receivable.
Create a new asset account for the customer's balance.
Create a new Other Charge Item called Payment on Account (or whatever you
want). The Account will be the asset account you just created.
Make a journal entry that debits the loan account and credits accounts
receivable. Be sure to enter the customer and full amount owing.
You can now create monthly invoices to the customer, using the Payment on
Account item.
--
Tara
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