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On the Payments and Receipts form, you can enter an Advance Payment or Receipt.
On the Financials menu
, under Transactions, click Payments and Receipts.
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Select the Advance check box at the bottom of the form. This means you are now able to create a new Advance record, and a line for the transaction appears.
On the Payments and Receipts form,
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select either Make Payment or Enter Receipt.
Select the payment Mode, Company making or receiving the payment, Vendor/Customer, and Bank Name.
Enter the Amount to Pay and any Bank Charge.
The AP/AR account from the vendor's Address Book entry is used allocating Advance Payments and Receipts. If it is not specified, the AP/AR account from the Accounts Periods form is used.
To allocate Advance Payments or Receipts to outstanding invoices, use the Advance Payment/Receipt Allocations form. Allocating an Advance Payment (but not an Advance Receipt) to an invoice selects the Final check box on this form.
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