How to easily manage advances given to suppliers and DCO's

This article will show you how to account for advances given to suppliers.

There are two ways you can ‘Add Advance’ for your suppliers/dcos.

Method 1 - Purchase Payment level
You can go to Purchase Payments - Add Payment - Check the ‘Is Advance’ Checkbox > Enter the Amount - Select Mode of Payment and click on Save.





Method 2 - Duty level
You can add advance for your suppliers at duty level by going to the small gear icon next to the duty and select ‘Add Advance Purchase Payment’. This will capture the duty ID in the purchase payment section.







How to apply advance payment?

There are two ways you can apply advance payment for your suppliers/ docs.

Method 1 - Before Generating Purchase Invoice
While creating a purchase invoice, when you click on ‘Add Advance’ at the bottom, you would be able to see all the advance payments made for the supplier/ dco. You can directly apply from here.





Method 2 - After Generating Purchase Invoice
If the purchase invoice has already been created, simply click on the invoice and click on ‘Apply Purchase Payment.’




Done!

Updated on: 15/09/2020