Advances

It is possible to set up advance payments for books where cash is registered.

Enabling and Recording Advances

The registration of advance payments can be enabled per book via Application Management / Cash & Cards / Books. Edit the book by clicking on the pencil icon and then view this setting:

It is now possible to record advance payments in this book.

When you add a booking via the entries section, you will notice that alongside a Standard booking, there is now an option to record an Advance Payment or to settle a previously recorded advance payment:

Recorded advance payments are retained. In the Cash & Cards / Advance Payments section, you will find an overview of all advance payments recorded in various books. In the following image, you can see the previously recorded Advance Payment after booking:

When an advance payment is fully settled, it will be removed from this overview. If only a part of the amount is settled (a partial refund), the amount will be adjusted to the remaining Outstanding amount.

Settling an Advance Payment

To settle an advance payment, choose Advance Payment Settlement as the Transaction Type when adding a booking. In the 'Advance Payment' field, you can then select the advance payment you wish to settle. We recommend providing a clear description when recording the advance payment so that it can be easily recognized during the settlement process. As seen in the following image, you have the option to enter an amount during settlement. This can be a portion of the total amount.

There are 2 options for settlement: refund or accountability. In the example, a refund naturally returns the 10 euros that were taken from the cash back to the cash after a deposit. There are situations where (a portion of) the amount is not returned to the cash because it has been spent. In this case, you can choose to account for the advance payment. During this accountability, you can choose which cost category applies to this advance payment. After booking an advance payment, you will see that it is not displayed as Income or Expense:

This is because this transaction does not affect the balance. The amount has already been spent at an earlier moment. This booking merely accounts for (after the fact) what the advance payment was (partly) used for.

Note! To record an advance payment (settlement), it is necessary to have system cost entry created of the type "Advance Payment" and "Advance Payment Refund (Partial)".

An advance payment does not need to be fully refunded or accounted for. For instance, it is also possible to account for a portion of the advance payment and immediately refund the remainder. Consider a scenario where some cash is given, a portion of which is spent, and upon return, the remaining/change is returned to the cash.

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