An advance amount will remain on the system until the actual invoice from the vendor has been vouched against it. You must vouch against an advance even if the amount of the advance and the amount of the invoice is exactly the same. Vouching against the advance will remove the advance from the general ledger account, Advance on Purchases.
When you receive the vendor's invoice, it must be vouched as the full invoice amount.
When you receive the vendor's invoice, it must be vouched as the full invoice amount.
- In Vouching/Adjustments/Auto Vouching (use Shift-F9 in ProfitMaker for help in finding this option), enter the vendor number and the invoice number on the vendor's invoice. Click Add.
- Enter in the full amount of the invoice.
- Tab to the Advance # field and either type in the advance invoice number that was assigned in Checkwriting or do a lookup. If the entire amount of the advance is being applied to this invoice, do not change the Adv to apply amount.
- Continue vouching as usual, updating the general ledger accounts for the entire amount of the invoice including the advance payment.
- After printing the Vouching Journal, the open items will reflect the full invoice amount less the amount of the advance showing the balance due. However, if the advance and the invoice are exactly the same, no open item will be created.