I have a client who has paid me in advance for the work. The invoice will be raised at the end of the project. The project is taking well over 3 -5 months. I have therefore logged these payments under the client and if you go to the client itself you will see their advance payment.
I could also see this advance payment reflected in the Sales control account under the balance sheet.
However, when i looked at the Debtors ageing report, i don’t see this anywhere. I could see the other outstanding invoices but not these advance payment. I think there should be a way for ‘payment on account’ or ‘advance payment’ to be reflected in Debtors ageing report otherwise the Debtors report would not match with the debtors control account (and likewise for creditors report).
Is this something that can be added to the system?
I had a conversion about this back in February with @Piranha. I’m happy to reconsider this… for now I’ve logged it on our planning system to be reviewed. I just don’t understand the scenario of having aged debtor invoices while at the same time having a credit on account?
@Sameera, this has now been implemented. There is an additional column on the far left to display the balances held on account. This is applicable for both debtor and creditor ageing reports.