Standing advance with a Supplier


I am a trader. I usually have to pay a standing advance to a supplier and that advance lies with him till the time I am doing business with him. This advance does not get adjusted in any invoice and only gets settled once I am closing accounts with him.

How do i incorporate this in Manager ?

I am new and learning the nuances of the s/w, so please forgive if it sounds silly.


Try this guide Record supplier deposits and advances

This will offset the advance against any invoices you owe

If this is a permanent advance to a supplier, you prefer to consider the options in this guide
instead Avoid automatic credit allocations with special accounts which will require slightly more work to set up but may be more appropriate to your business

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you can make GL account name is Supplier Deposits under Asset and put special account as control account. then under special account create supplier name the deposit the amount in this account.

once you close the business with him and payment received you can credit Supplier deposit ac. this approach will segregate the deposit from advances to suppliers and invoice payment. it will have separate track .