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Advance Invoice vs Prepayment Based Invoice

  • 12 March 2023
  • 4 replies
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Userlevel 2
Badge +6
  • Do Gooder (Employee)
  • 10 replies

Hi,

 

At the Company setup, there are two options that I can select, Advance Invoice or Prepayment Based Invoice, does that mean that if I select Prepayment Based Invoice then I cannot create advance invoice? Customer would like to use both solutions.

 

Thank you.

 

Best regards

Rutuja

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Best answer by Kanishka Dilana 12 March 2023, 14:46

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4 replies

Userlevel 6
Badge +15

@runise At the moment, you can’t use both options for a given Company (This is same even in Latest Cloud version 22R2 it seems). See below extract from IFS Help Docs,

  • The value you select in the Method for Invoicing Prepayment field will decide how the invoicing of prepayments will be handled. The available options are: Advance Invoice and Prepayment Based Invoice.
    • If Advance Invoice is selected, advance invoices will be created for requiring prepayments, i.e. before receiving the prepayment. 
      • The base value retrieved on the advance invoice will depend on the value selected in the Base For Advance Invoice list.
    • If Prepayment Based Invoice is selected (typically used in Poland), invoices will be created after the prepayment has arrived. Note that Prepayment Based Invoice can only be created for the company working with single tax code per line items.

I don’t think any (Or not many) of the existing IFS Customers see this (I.e. using both options at the same time) as a valid business requirement, and that may be why the same distinct options were there across all past IFS versions and remained unchanged even in Cloud. So, I suggest you log this as a Support Case/an ‘Idea’ so that your (or your Customer’s) requirement/request is considered when implementing similar functionality in next Core version of IFS Applications.

Userlevel 2
Badge +6

Hi,

 

Thank you very much for the explanation and recommendation, this helps.

Kind regards

Rutuja

Badge +1

Hello,

i like to add that there is some polish customers with similar requirement about using both options at the same time - many companies in Poland using Prepayment Based Invoice and Advance invoice as well at the same time. I asume that we can change this many times without further issues?

Userlevel 5
Badge +11

Hi, 

the only option that you might take into consideration if this is a valid business case is to use Instant Invoices for the advance invoice creation. But there might some additional manual effort and NO connection to the customer order.

Also payments (advance payments) need to be matched manually against customer order invoices.

The advance payments are not shown on the customer order invoices.

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