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ADVANCE FROM CUSTOMER AGING

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Sandeep Sharma

Accounts executive

552 Points Posted on 16 July 2021

For party X we had given an advance of Rs. 50000/- on 1-5-21 and received bill No - 154 of rs. 40000/- on 14-5-21. How to show the details against balance of os advance rs. 10000/- in aging report dated 31.05.21

Do we need to show invoice no and invoice amount???

receipt amount and receipt number??

Replies (2)

Quick Summary

This discussion addresses how to accurately reflect an outstanding customer advance of Rs. 10,000 in an aging report dated 31.05.21. The query seeks clarification on whether to include invoice numbers and amounts, or receipt numbers and amounts, to reconcile the initial Rs. 50,000 advance against a Rs. 40,000 bill. The goal is to ensure the remaining balance is clearly presented in the age-wise report.