Difference between prepaid and advances

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Daya

Daya (Querist)
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09 June 2022 What are differences between Advances and prepaid.

PARAS CHHAJED

PARAS CHHAJED

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10 June 2022 Advance is some adhoc amount against some payment to be made. Prepaid is the amount paid toward any expenditure for future period beyond the current year.

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Difference between prepaid and advances

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