Advance amount

Hi All ,

I am very clear about the normal vendor & Customer opening balances , but not clear about the advance payments of customer / vendors .

To bring these advance payments as a opening balances , what are all the steps or points to need to consider ?

Is there any standard report available to show those advance payments of customer / Vendor and how to filter those advance payments only in the report ?

Hi Lally,

To see the advance payments of Vendor/Customer use the Vendor posted payment journal/Customer posted payment journal report and add a range criteria of ‘Prepayment journal voucher’ = Yes.

Check this for reference: