What Is an Advanced Balance?

An advanced balance is a type of credit on a customer’s or supplier’s account. This feature in Smart POS allows you to track and manage prepaid amounts, which can then be used for future transactions.

• An advanced balance to a customer is the amount of money your business owes the customer. Think of it as a store credit they can use on a future purchase.
• An advanced balance from a supplier is the amount of money a supplier owes your business. This could be a prepayment for a future order or a credit you’ve received from them.

How to Add an Advanced Balance

Adding an advanced balance is easy.

1. From the dashboard, go to Customers > Customers/Suppliers.
2. Find the customer or supplier you want to add the balance for.
3. Click the Actions button and select Pay.
4. In the “Add Payment” window, enter the amount and click Save. The advanced balance will be added to the customer’s or supplier’s account.

How to Use an Advanced Balance for Sales and Purchases

To use an existing advanced balance for a sale or purchase, you’ll need to select a specific payment method during the transaction.

1. Create a new sale or purchase order.
2. Select the relevant customer or supplier.
3. When you get to the payment section, click on the Payment Method dropdown menu.
4. Select Advanced Payment.
5. Save the transaction.

The amount of the sale or purchase will be deducted from the customer’s or supplier’s advanced balance.

Note: An advanced balance can only be used as a form of payment if you specifically choose the Advanced Payment method during checkout.