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Close Order


Excerpt

When the order is closed, the charges on the order become revenue, and Open-Order Adjustments are posted. If a Payment is collected through a register, it is posted as a cash asset; and, if there is an outstanding balance for the order, it is recorded as an A/R Charge.




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User Interface




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Data Model




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Data Flow




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Reports




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Example T-Accounts

  1. Close an order containing a charge with a volume discount; post a payment amount greater than the order balance.





DebitCredit


+$200.00Payment
Cash (Asset)$200.00

PAYMENT+
-$35.67Volumen Discount
Discount (Expense)$35.67

CHARGE_ADMIN::ADJUSTMENT-
-$141.92Charge
        Sales (Revenue)
$200.00
CHARGE_ADMIN::CHARGE+
+$93.75Client Credit
        Client Credit (Liability)
$93.75
CREDIT_MEMO+

$0.00Balance

$0.00$0.00





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Info
titleDefinitions

Refer to the 'Inventory and Accounting Definitions' wiki page for the definition of inventory and accounting terms, and for details about fields and controls.


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titleContents

Table of Contents