Vendor Advances and final invoicing

We do give advance to contractors and suppliers against the Purchase Order generated for a Vendor. We would like to keep the advance paid in a separate account of the same vendor and at the time of invoicing this advance paid should be automatically transferred from the advance account of the vendor to the posted invoice account of the vendor and applied to the invoice posted and applied automatically also.

This will help us to get a schedule of advances paid to the vendors and not adjusted for reporting in the final accounts. This may help us to generate the age analysis of the vendor for the advances paid. The LPO reference will be used as the basis for transferring the advance paid to that vendor at the time of posting the LPO in the system for invoicing the vendor and the automatic posting by the system will avoid human intervention interms of transferring the advance or applying the advance paid.

Please enlighten me whether the standard system provide for such a facility or how to customize it if you have a solution.



If you using NAV5.0 or higher version, then use Pre-Payment functionality.