Advance Received from Customers
When cash is received from the customer in advance prior to sales it is treated as a liability to the company. It is cleared via future sales.
Configuration Settings for Advance Payment to Vendors
1. Creation of General Ledger - Advance from Customers
2. Link between Sundry Debtors and Advance from Customers
End User Area
1. Advance Payment Posting
2. Sales Invoice Posting
3. Transfer of Advance from Special GL to Normal by Clearing Special GL
4. Clearing of Normal Items
When cash is received from the customer in advance prior to sales it is treated as a liability to the company. It is cleared via future sales.
Configuration Settings for Advance Payment to Vendors
1. Creation of General Ledger - Advance from Customers
2. Link between Sundry Debtors and Advance from Customers
End User Area
1. Advance Payment Posting
2. Sales Invoice Posting
3. Transfer of Advance from Special GL to Normal by Clearing Special GL
4. Clearing of Normal Items