Recording an Advance Payment from a customer

If you have received a payment from a customer in advance, even before the invoice is created, you can add it to SlickPie manually. To record this advance payment or prepayment, you have to take the following steps:



Step 1: Create 2 Chart of Accounts, if it's already not there.

  1. Advance from Customer
  2. Income


Advance from Customer under Current Liability to record the advance you have received from the customer.




Income as Revenue to record it as the income for your business.




Step 2: Create an inventory item Prepayment.

Please note When creating the inventory, select chart of account, Advance from Customer, as Sales Account.




Step 3: Create an invoice for the customer for the amount you received using the inventory item and chart of account created as mentioned above.

For instance:




Step 4: Record the payment against this invoice.


Step 5: Later once the service is provided, create a Manual Journal. You have to Debit the Advance from Customer and Credit the Income account.


For instance: for the entry, as shown above, we will create Manual Journal the following way.







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