Advance received

All the payments received in advance from customers or clients in lieu of goods and services provided can be recorded in the system using the Advance Received page. Payments can be disbursed against the advance or receipts can be generated. The General Ledger Entry created for a particular advance received can also be viewed herein (see figure 1).

(Figure 1 - Advance received)

To record details of advance received click on the add button on the toolbar of the page. The following pop-up will appear. Enter the information as explained below and click on save once done (see figure 2).

(Figure 2 - Advance received entry)

Different fields in the pop up are:

Account Name : enter the type of account to which the advance received belongs to i.e.if it is an revenue account, asset account etc

Net Receivable : enter the amount received as advance

Reference Date : enter the date on the reference document

Reference No. : enter the document no which can be used as a reference for the advance received. e.g. Invoice

Advance Date : enter the date on which advance has been received

Remarks : enter relevant remarks