Reconcile Advance Payment to Supplier
While migrating from x application to ERPNext, how to book advance Accounts Payable and reconcile with future invoices?
Booking Advance Accounts Payable:
Create a Journal Entry with type Opening Entry , Debit the Creditor Account choosing the required Supplier and Credit the Temporary Opening Account .
Expand the Creditor's Row and select Yes for Is Advance.
Refer to the GIF illustrating the same:
Submitting the Journal Entry will reflect a negative balance in Accounts Payable Summary : Reconciling it with the Purchase Invoices:
Refer to Accounts Payable report after creating a Purchase Invoice:
Currently, they are not reconciled and are reflected as two separate entries , use the Payment Reconciliation tool to reconcile these both entries, refer to the GIF for the steps:
Refer to Accounts Payable Report after reconciling, it won't reflect the Journal Entry anymore and will reflect the ( Invoiced Amount - Advance Amount) :