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How do I set off an advance or debit note against an invoice?

Open Vendor Settlement, pick the vendor and currency, press Auto Settle and save. The invoice and the advance or memo are reduced by the same amount.

Screen
Vendor Settlement (Accounts Payable › Payment)
Who
The payables accountant
Takes effect
On save (always posted)
Needs first
A posted open invoice and a posted open advance or memo, same currency

Before you start​

  • A payment-type journal for settlements.

Steps​

  1. Open Vendor Settlement, set Posting Date, journal, Vendor, Currency. Create.
  2. Press Auto Settle, or type amounts: positive on invoices, negative on memos and advances.
  3. Save.

Check it worked​

  • Vendor Aging shows the reduced balances.

If something looks wrong​

  • "Need at least one Invoice and one Memo/Advance with an available balance to net".