Add an advance payment

Advance payments are cash receipts that have been received for which no invoice has yet been produced and recorded. In the current version of the application, a "negative" invoice must be created to record the advance payment.

1. Create a negative invoice with the "Advance Payment" product/service; the deposit will appear in the bank reconciliation after importing this invoice.
2. The customer balance is in credit; if a statement of account is printed, the negative balance will be displayed.
3. Create the actual invoice
4. Apply the advance payment to the actual invoice by adding a $0 receipt and selecting both the negative invoice and the actual invoice. No amount will be deposited since the amount received is equal to $0. The customer file will contain the details of the transactions.

To add an "Advance Payment" product/service

You need to add a non-taxable product/service named Advance payment by following these steps:

1. Go to the menu Products and services
2. Click on the button Add
3. Complete the file for this product/service by specifying the code and name
4. Select or Add the Product/service category for Advance payments. It is very important to ensure that the Tax exception is "Exempt supplies"
5. Choose the sales unit: Units

When importing this invoice into SigaFinance EVO, you will need to link the bank account to the new Product/service category so that the amount of the Advance payment appears in the bank reconciliation.

💡Video clip - How to manage advance payments?

The clip is only available in French

Sigabill is an application developed by SIGA Informatique 2000 inc,