Using Advances

Advances are used to enter payments made to a vendor in advance of completing a Purchase Order or creating a Voucher. The advance will show as a negative amount due to the vendor.

The following field definitions apply for Advances: 

Header Fields:

• Vendor – The vendor ID of the vendor selected for the advance
• Name – The name of the vendor selected for the advance
• Note – Descriptive information for the advance (this information prints on the Advance orders and check stubs)
• Advance – The Advance number (this number is assigned automatically upon updating the advance)
• Date – The date the advance was made
• Buyer – The buyer ID and name of the buyer making the advance
• Invoice – The vendor invoice number to complete the advance (optional, unless mandated in Purchasing Options)
• Account – The general ledger bank account, cost center and name to record the payment of the advance

Advance Line Fields:

• Advance Description – The field will display the word "Advance"
• Amount – The total dollar amount of the advance

Security Required : Payables - Checks