Advance payment entry..

Originally posted by : malarvannan
	Dear Friends For example. If i give advance payment to supplier(s1) for particular job. As per my knowledge i update the payment entry in tally -5 lacs. But it will not reflected in accounts receivable in tally Please clarify. Very urgent ---yours  malar.D

To reflect the transaction in accounts receivable.

> Maintain balance bill by bill during ledger creation.

> Select "Advance" under "Method of Adj." for advance payment entry.

> To settle bills/payments against advances, select "Agst Ref" and tag the advance entry.

> Correct net balance (receivable/payable) will be reflected.