As the word, “Advance Payment” suggests, it is nothing but the payment that is made ahead of its scheduled time. Most sellers make advance payment receipt as security, against the non-payments or to cover some cost of sellers.
In our last blog, we have seen the detailed explanation for “Rent Receipt Report”. In this blog, we will learn how we have created “Rent Receipt for Advance Payment” in Sage 300 ERP and its usage. There are many more reasons for which advance payment receipt can be used.
You can print this report from:
Account Receivable A/R Transaction Reports a Receipts
After printing this report it will look like this:
For one of our clients, we have created “Rent Receipt for Advance Payment”. For an example suppose you are owner and your tenant wants to pay the rent in advance. Now in this case the rent receipt for advance payment can be use. The owner will give the above receipt to tenant for his advance payment. Then at the time of monthly payment owner creates the invoice to nock of the same.
This receipt will fetch information from customer Master and AR Receipt screen. You can generate Rent Receipt for Advance Payment for Multiple Customer at a time as per the selection criteria.
This is our customized report format that is design as the client requirement, but we can modified it as per your organization standard format.
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