Sales Advance Payments

by
Odoo

$ 318.95

v 17.0 Third Party 2
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Odoo Apps Dependencies • Invoicing (account)
• Discuss (mail)
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Lines of code 745
Technical Name account_payment_advance_sale_mac5
LicenseOPL-1
Websitehttps://apps.odoo.com/apps/modules/browse?author=MAC5
Versions 14.0 15.0 17.0 16.0
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Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies • Invoicing (account)
• Discuss (mail)
Community Apps Dependencies
Lines of code 745
Technical Name account_payment_advance_sale_mac5
LicenseOPL-1
Websitehttps://apps.odoo.com/apps/modules/browse?author=MAC5
Versions 14.0 15.0 17.0 16.0

Sales Advance Payments

The True Advance Payments / Deposits / Prepayments in Sales Order

Features:

  • New button in quotation / sales order to register advance payments
  • View registered advance payments in sales order
  • Multiple advance payments can be applied to sales orders
  • Advance payments will automatically applied to customer invoices
  • Includes all the features in the Advance Payments module

Configurations

Create new Accounts for Advance Payments

Create new accounts to be used for customer and vendor advance payments in Accounting > Configuration > Accounting > Chart of Accounts. Make sure that the created account is used for advance payment and 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 journal 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.

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 Advance Payments in Sales Order

First, create or select a quotation / sales order to register advance payments. Then click the Create Advance Payment button. Note that this button will not be shown if the sales order is fully paid or the sales order has invoices already.

Update the details of advance payment, especially the payment method, amount and date. If done, confirm the advance payment. Go back to the sales order

Advance payments added in the sales order will now be shown in the form view. Click on that to view the advance payments or continue to invoice the sales order.

Update the details of the created customer invoice if needed. Note that the invoice date and the advance payment date will determine the application date of advance payment to invoice. If all done, confirm the invoice.

After confirmation, the advance payments from sales order will be applied to the customer invoice. You can check the details in the total or the Advance Payments tab.

The Advance Payments tab will show the advance payments applied for the current invoice.

You can also check the reconciliation details of invoice, advance payment and the application of advance payment to invoice.

Compatibility

This module is compatible with Odoo 17.0 Community and Enterprise Editions

Support

Email: mac5_odoo@outlook.com

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Question / Clarification
by
Yuz
on 2/27/24, 10:56 PM

Does this mean we can have a separate account for deposits / prepaid, for Accounting purposes? This can be tagged as Prepayments and Cash/Bank accounts, not just AR and Cash/Bank accounts?

Re: Question / Clarification
by
Aldrin Villamar
on 2/28/24, 12:47 AM Author

Hi Yuz,

Yes, that is correct. Not only you can change the account but also the date of the transaction. You have dates for the deposit, for the invoice and the application of deposit payment to invoice.


Regards,