How to create a deposit for multiple Bills - Foreign Vendor ( Eg : Use one deposit to settle multiple bills related to same PO ( No restrictions in application %)

Here we will be looking the 2nd option on how we can create and allocate a deposit when we have multiple receipts for a PO.
 
We will consider a 30% of deposit to be allocated for multiple bills that we are creating for multiple receipts.    
 * Lets say we have created the PO0120, 
 * We have a deposit of $30,000
 * We are receiving the quantities in 05 different receipts and 05 different bills will be created for each receipt.
 * Each bill will be allocated with 30% of the total deposit. 

01. Lets start with creating a bill for deposit. To do that click  Create Bill, 


02. Next Fill in the details as shown below,
01. Bill Date 
02. Bill Reference
03. Add the label
04. Account -  Deposit Paid Account. (supplier deposit account)   
04. Then click confirm 
 When you have the bank feed you can reconcile this bill with that feed. Here we will be not showing that part.
 
03. Go to the purchase order and create the first receipt by updating the quantity. (200 Units). Then click Quality Checks and click  Pass. 
  
04. Click the Validate and click Create Backorder for the remaining amount.
 
05. Go back to PO,  Create the bill for the receipt
Select the appropriate  Bill date, Bill Team and edit the quantity. (200 units)


Please note you will have to tick Changes verified & confirmed check box before confirming the bill, as there is a different in the PO quantity and bill quantity. (This a customization for 3 way reconciliation).   

06. Now you have to Pay $6,000 which is 30% of the bill amount. To do that, Select the  Register Payment 

 
07. Next Fill in the below details 
01. Select the Journal - It should be selected as Deposit Paid 
02. Payment D ate 
03. Rate - Here the exchange rate which was used for creating the initial supply deposit should be used. 
04. A mount and Currency (foreign currency & foreign currency value) 
05. Click on  Apply while ticking the checkbox if you want to apply this rate for all transactions created on this date (optional). 
06. Select, Keep open the remaining amount. 
07. Now click on  Create Payment


08. Now the bill would be tagged as Partial - First Bill (balance $14,000 can be paid through bank- and reconciled)


 
09. Go back to the PO to create the second receipt, Click on Receipt tab on PO and select the receipt which is under Ready status      
 
10. Enter the quantity (200 units) and click Q uality check and click  Pass 


11. Afterwards click the Validate and click Create Backorder for  remaining quantites


12. Then Go back to the PO and Click Create bill 


13. Tick changes verified and confirmed> Click OK and click Confirm


14. Now, Click   REGISTER PAYMENT and fill the details in the popup to pay the 30% of this bill from the deposit we have paid. 
01. Select the Journal - It should be selected as Deposit Paid 
02. Payment D ate 
03. Rate - Here the exchange rate which was used for creating the initial supply deposit should be used. 
04. A mount and Currency - (foreign currency & foreign currency value) 
05. Click on  Apply while ticking the checkbox if you want to apply this rate for all transactions created on this date (optional). 
06. Select, Keep open the remaining amount. 
07. Now click on  Create Payment

 
15. Now the bill would be tagged as Partial - Second Bill  (balance $14,000 can be paid through bank-  and reconciled)  
 
 
16. Now go back to the PO and follow the same steps as shown above to create the 3rd, 4th and 5th receipt and the bills. Same steps should be followed to create the payments too. 

This process has been explained in detail here in this video