How to clear advance payment to Supplier?
Scenario:
Advance payment to Supplier dated 4 Sep 2016
Invoice date is 31 Aug 2016
Solution:
Need to create PC using contra account.
-Go to Receivable-> Receivable transaction -> Type select RC.
-Enter the date the same as the invoice date.
-Select a contra account in the line details.
-Enter the amount $1.
-Click Batch Allocation.