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Advance Receive Adjustment — Efficiently Manage Partial Payments in PrismERP

Managing advance payments can often be challenging, especially when it comes to correctly applying them against corresponding invoices or orders. PrismERP’s Advance Receive Adjustment feature streamlines this process by allowing businesses to record, track, and adjust advance payments seamlessly, ensuring accurate financial records and improved cash flow management.

What is Advance Receive Adjustment in PrismERP?​

Advance Receive Adjustment enables you to accept partial payments from customers before the final invoice or order completion. These advances are securely logged in the system and can be automatically or manually adjusted against the related sales invoices or orders. This functionality helps you avoid manual reconciliation errors, maintain clear customer balances, and accelerate the order-to-cash cycle.

Example Scenario:​

A customer places an order worth BDT 1,00,000 but pays BDT 30,000 upfront as a down payment. When the final invoice is generated, PrismERP automatically deducts the advance payment, adjusting the remaining balance to be paid accordingly. This ensures all transactions are correctly reflected in customer ledgers and financial reports.

Key Features​

  • Advance Payment Recording: Capture partial payments at order placement or anytime before invoicing.
  • Auto and Manual Adjustment: Automatically apply advances to invoices or adjust manually when needed.
  • Partial & Full Payment Support: Handle any payment proportion flexibly without losing track of balances.
  • Clear Ledger Integration: Maintain transparent customer account balances with all adjustments logged.
  • Approval Workflows: Control and review advance adjustments through customizable approval processes.
  • Multi-branch & Currency Support: Efficiently manage advances across different branches and currencies.

Integration Points​

  • Sales Orders & Delivery: Link advances directly to sales transactions.
  • Invoice & Payment Modules: Automatic payment adjustments during invoicing.
  • Customer Ledgers & Accounts Receivable: Reflect real-time customer balances.
  • Financial Accounting & Reporting: Ensure transparency and compliance in financial statements.

With PrismERP’s Advance Receive Adjustment, you gain full control over advance payments and their application—making your sales, accounting, and cash flow processes smoother and more reliable.