Odoo 10 Implementation Cookbook

Advance payment and invoicing

Sometimes in business, you may receive a payment in advance from a customer, or you may have to pay an advance to your vendors before you place an order. As soon as you receive the payment in the bank, create a bank statement and reconcile it, as it is a payment in advance from the customer; don't select the counterpart at reconciliation.

When you have a partner linked to the entry without a counterpart, you will get the VALIDATE button instead of the RECONCILE button. Click on the VALIDATE button to process those entries; that will be considered as an advance from the customer or to the vendors. Let's take an example where I receive 5000 from China Export as an advance. Now take a look at the following screenshot: ...