Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. How can you perform these
steps in AP?
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Answer Posted / conceadow
Create Standard Invoice with Bank Account entered in Distribution and apply prepayment against it.
Bank Account Dr.
Liability Account Cr.
after Application:
Liability Account Dr.
Advance to Employee Account Cr.
No need for Credit Memo and Payment than. Ultimate entry:
Bank Account Dr.
Advance to Employee Account Cr.
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