Create Vendor Advance
To create an advance payment for a vendor:1
Log in to the RazorpayX Dashboard.
Log in to the RazorpayX Dashboard.
2
Navigate to Vendor Payments → Advances at the top of the...
Navigate to Vendor Payments → Advances at the top of the screen.
3
Click + Advance to make an advance payment to a vendor.
Click + Advance to make an advance payment to a vendor.
4
Search and select from existing contacts or create [**+ NEW CONTACT...
Search and select from existing contacts or create + NEW CONTACT.
5
Select the fund account of the chosen vendor to which you want to m...
Select the fund account of the chosen vendor to which you want to make the payment.
6
In the Advance Details section, enter the Advance Amount.
In the Advance Details section, enter the Advance Amount.
7
You can choose to Attach an existing Purchase Order and enter t...
You can choose to Attach an existing Purchase Order and enter the PO Number, and add + NOTES, as required.
8
Click Next and review the details. You can Schedule Payout or c...
Click Next and review the details. You can Schedule Payout or click Next to pay instantly.
9
Enter the OTP sent to your registered mobile number and email id. C...
Enter the OTP sent to your registered mobile number and email id. Click Pay.
Settling Advance Payments
How it Works:- When you add an invoice for a vendor to whom you have already paid an advance, RazorpayX recognises it and asks you if that particular advance is relevant to the current invoice.
- If it is relevant, select the checkbox against the row and the payable amount reduces as the advance is subtracted from the invoice.
PARTIALLY PAID once you map it to the advance payment.
Advance Payment State
After the advance payment is mapped with the invoice, the status of the advance changes fromPAID to USED.