While creating a supplier, how can we record an amount that has already been paid in advance? Can someone explain with an example?

EalSuite Platform Purchase
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1

While creating a supplier, how can we record an amount that has already been paid in advance? Can someone explain with an example?

2

Do you mean an advance payment that was made before entering any purchase transactions in the system?

3

Yes :+1: You can record it while creating the supplier itself.

Here’s how:

  1. While creating the Supplier, enter the Opening Balance.

  2. Choose the option Amount Receivable.

  3. Select Advanced Paid.

  4. Enter the advance amount that was already paid.

:pushpin: Example:

Suppose you paid ₹10,000 in advance to a supplier before recording any purchases.

  • While creating the supplier, enter ₹10,000 as Advanced Paid.

Later, when you create a Purchase Bill for ₹25,000:

  • The system will automatically show the Redeem Credit option.

  • The ₹10,000 advance will be adjusted.

  • You will only need to pay the remaining ₹15,000.

This way, the advance is properly recorded and adjusted against future bills.

4

That makes it very clear :blush: Thanks for the example!