Accountable Advances

Overview

This entity describes the list of accountable advances given by the Organization. It keeps track of the outstanding balance of the advance by tracking all payments (debits) and recoveries (credits).

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General Ledger ► Sub Ledgers ► Accountable Advances► Accountable Advance

Accountable Advances Screen Fields

Fields	Description
Code	Unique identification code. System generated or manually entered by the user depending on the system parameter.
Workflow Status	The Workflow Process Status of the voucher automatically generated and updated.
Currency	Indicates the transaction currency for the Advance.
Exchange Rate	The exchange rate for the chosen currency.
Advance Type	Indicates the Advance Type for the Accountable Advance.
Coding Block	Coding Block for the Accountable Advance.
Accounting Office	Accounting Office Code By default use current employee institution
Purchase Order	Only enabled if Advance Type is linked to Purchase Order and will allow the user to select respective Purchase Order.
PO Advance Limit Percentage	Only enabled if Purchase Order is selected. This field is to define advance limit, means the percentage of the PO Total Amount that can be provided as an Advance to the Supplier.
Advance Status	Indicates if the Advance is Open and transactions can be posted against it, or it is closed and no transactions ca be posted against it.
Holder	Refers to the Vendor to whom the advance will be issued.
Domestic Advance Limit Amount	This is to define the maximum limit of money to be advanced. If the advance is linked to a PO, this amount must be less than the PO amount.
Pay Advance In Single Installement	If Advance Type is True, then this attribute is true and is disabled (user cannot change). If Advance Type is False, then this attribute is enabled (user can change it), default value is False.
Domestic Paid Amount	This is the running total of the amount that has been advance to the holder. System calculated, sum of GL debit entries against the sub-ledger.
Domestic Recovered Amount	This is the running total of the recovered amount of the advance. System calculated, sum of GL credit entries against the sub-ledger.
Domestic OutStanding Balance Amount	Calculated/Updated Display Only Field
Created By	System will automatically populate this attribute.
Creation Date	The Accountable Advance created on. This is auto populated by the system.
Approved By	System will automatically populate this attribute.
Approved Date	Timestamp of approval
Language	The language used to enter the description.
Name	Name of the Advance.
Description	Description for the advance.

Advance Transaction Schedule Tab

Advance Transaction Schedule Tab Screen Fields

Fields	Description
Sequence Number	Sequential number of the Advance Schedule.
Transaction Type	Indicates the type of the transaction. Possible values are Payment and Recovery.
Forecast Transaction Date	Non-mandatory. To define the expected transaction date.
Forecast Transaction Amount Domestic	This is the expected transaction amount in domestic currency.
Forecast Transaction Amount Foreign	This is the expected transaction amount. Enabled if Accountable Advance currency = Foreign.
Actual Transaction Date	Indicates the actual transaction date. This is auto populated by the system from the processes.
Actual Transaction Amount Domestic	Indicates the actual transaction domestic amount. This is auto populated by the system from the processes.
Actual Transaction Amount Foreign	Indicates the actual transaction foreign amount. Applicable when the Accountable Advance is in foreign currency. This is auto populated by the system from the processes.
Is Executed	This is auto populated by the system from the processes.