Payments and banking · Guide 113 of 624
Keep advances in a separate account
Some businesses prefer customer deposits in their own liability account rather than the receivable account. RockifyERP supports this.
How to do it in RockifyERP
- Create an account such as Customer Advances under Current Liabilities.
- Set it as the advance account in Accounts Settings or on the company.
- New advances now post there, and move to receivables when allocated to an invoice.
Tip: This makes the balance sheet clearer when you hold large deposits.
Need more help with RockifyERP?
Can’t find what you’re looking for? The RockifyERP support team can walk you through it. Contact RockifyERP support.