I am working on an MIS report in which I have to mention the Original down payment given to the vendor against the current outstanding advance and ageing analysis. As per the current practice in our company while accounting the recoveries against running bills, the entire original/existing advance is being reversed/credited and the balance advance amount is getting debited/posted for the recovering the proportionate amount.
Please advise whether I will be able to extract the Original advance amount and the Original advance payment date of the open items in Vendor Spl GL with my current accounting pattern? If not, going forward how should we account recoveries to meet such requirement.
Thanks for your kind suggestions.
Krishna