Advance Payments

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Odoo          
v 10.0 Third Party 12

199.99 €

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Technical name account_payment_advance_mac5
LicenseOPL-1
Websitehttps://apps.odoo.com/apps/modules/browse?author=MAC5
Read description for v 12.0 v 11.0 v 9.0
Required Apps Invoicing (account)
Technical name account_payment_advance_mac5
LicenseOPL-1
Websitehttps://apps.odoo.com/apps/modules/browse?author=MAC5
Read description for v 12.0 v 11.0 v 9.0
Required Apps Invoicing (account)

Advance Payments

Way to create advance payments for specific account and apply them later on invoices

Features:

  • Support for Multi Currencies
  • Application of multiple advance payments to multiple invoices

Configurations

Create new Accounts for Advance Payments

Create new accounts to be used for customer and vendor advance payments in Accounting > Adviser > Chart of Accounts. Make sure that the created account is reconcilable. On my example, I created Unearned Revenue which is a liability to be used for customer advance payments.

Create new Journal for Advance Payments

Create new journals to be used for customer and vendor advance payments in Accounting > Configuration > Accounting > Journals. This new journal will be used when advance payment is applied on invoices.

If you want to cancel advance payment applied on an invoice, you need to install account_cancel module and enable Allow Cancelling Entries on the new journal

Set Default Configuration for Advance Payments

Set default configuration for the advance payments in Accounting > Configuration > Settings and set the advance payment account and journal that will likely be used often.

Procedures

Create new Advance Payments

Create new customer advance payments in Accounting > Sales > Customer Advance Payments (or new vendor advance payments in Accounting > Purchases > Vendor Advance Payments).

Select the Customer (or Vendor), Payment Journal and Payment Amount. Set also the Payment Date when the customer (or vendor) has paid. If you set the default configuration for advance payment account, the default will be shown unless you need to change it. Save the advance payment as draft or confirm it so that it will be posted.

Posted advance payment can now be used to apply advance payments on invoices.

Posted advance payment will also create journal entry such that the accounts are based on the selected Payment Journal and Advance Payment Account.

Application of Advance Payments on Invoices

To apply advance payments on customer invoices (or vendor bills), select an Open status invoice on Accounting > Sales > Customer Invoices (or Accounting > Purchases > Vendor Bills).

If the customer (or vendor) has advance payment, there will be a button named Apply Advance Payment on the invoice header. If there is no button shown, it means that customer (or vendor) has no advance payments or advance payments have already been applied.

On the Apply Advance Payments window, specify the Application Journal, the default will be the configured Advance Payment Journal in settings. Select the application date and advance payments to apply. TIP: You can select multiple advance payments and you can also select multiple invoices on the invoice list.

When applied on the invoice, payment will be shown below the invoice Total and in Advance Payments tab. TIP: You can unreconcile the payment by using the icon below the invoice Total but just make sure that the Advance Payment Journal is allowed on cancelling entries.

Application of advance payment on invoices will create a journal entry such that the accounts are based on the invoices account and advance payment account on payments. The amount (debit or credit) is the total of all advance payments applied.

Advance payments applied on the invoice will be printed as well on the invoice printout.

Versions

Version 2.0.3:

  • [FIXED] Setting up advance payment accounts and journal for multi-company

Version 2.0.2:

  • [FIXED] Reconciled advance payments cannot be applied to any invoice

Version 2.0.1:

  • [FIXED] Partial use of advance payments with multi-currency

Version 2.0:

  • [FEATURE] Multi-currency support
  • [FEATURE] Default for incoming and outgoing advance payment accounts

Version 1.1:

  • [FEATURE] Partial use of Advance Payments

Version 1.0.1:

  • [FIXED] Apply Advance Payment button in Vendor Bills

Support

Email: macvillamar@live.com

Keywords: Customer Invoice Advance Payments, Vendor Invoice Advance Payments, Vendor Bill Advance Payments, Supplier Invoice Advance Payments, Odoo Advance Payments, Odoo Advance Deposits
Odoo Proprietary License v1.0

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modified, executed after modifications) if you have purchased a valid license
from the authors, typically via Odoo Apps, or if you have received a written
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Odoo
Unreconcile Account
by on

How About COA with unreconcille status, could it be used as COA for this modules ?