How to create advance payment / Prepayment?

Introducing Prepayments / advance payment

• Refer to payments made in advance for goods or services that are to be received in the future. 

1.Create a New Customer Prepayment / advance payment Entry:

• Navigate to Sales, select on Customer 
• How to create a Customer in Biztory 

2.Initially recorded at Receive Payment.

3.Fill In Details :

1. Date : the date when the payment is received.
2. Amount : Input the exact amount received from the customer.
3. Payment Method :  Specify how the payment was made- typically include : Credit card, Cash, or Online transfer.

4.Payment Type :

1. Deposit : When funds are received as prepayment or security deposit.
2. Knock off Invoice : Applying the payment directly to an outstanding invoice to settle it.
3. Withdraw : typically denotes a refund or withdrawal of previously received funds

5.Remark : Optionally. Add any relevant notes or details about the payment.

6.Attachment(if applicable) : Attach supporting documents such as receipts.

7.Save

You are successfully record customer credit balance.

Related Guides on Advance / Credit Balance

• Refer : How to use Credit Balance