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Pl. explain the advance payment adjustment process with multiple partial invoices

Feb 18 at 06:59 AM


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Example: We have receive advance payment 10,00,000/- (20%) against P.O. of Rs. 50,00,000/-

We have raised invoice as follows

1st Invoice Rs. 5,00,000-00

2nd Invoice Rs. 8,00,000-00

We need to adjust amount for 1st Invoice 1,00,000/- & 2nd Invoice 1,60,000-00

Then Open transactions like

Advance Received 7,40,000/-

1st Invoice 4,00,000/- Receivable

2nd Invoice 6,40,000/- Receivable

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