Advance payment to supplier

Is it possible to pay supplier in advance and keep track of that payment ? Also use that advance payment to purchase goods in future ?


Yes it is possible.
For Example
-if you create purchase order PO-0001 with 5 qty Rate=1000 and Amount=5000
and submit

  • Now you make new Journal voucher (suppose you want to pay 2000 in Advance)
    First Row= select Account of Supplier ,Debit=2000 , Is Advance= Yes, Against purchase order= PO-0001
    Second Row= Select those account from which amount debited , credit= 2000
    Submit journal voucher.
    -Now go to "Purchase order i.e PO-0001 ,click on “Make Invoice”
    (click on “View Details” button) .There is “Advances” section available.
    -click on "Get Advance Paid"button
    -journal voucher number and Advance Amount will get fetched.
    -just enter Allocate Amount=2000. and submit purchase invoice =PINV-0001
    -check your Outstanding become= 3000 i.e (5000-2000)
    -Next time when you ‘make payment entry’ from purchase invoice(PINV-0001) then you have to pay 3000 only.

Shraddha Ranjane
New Indictrans Technologies Pvt. Ltd.

1 Like

How do you make a new voucher?

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