In accordance with Russian accounting requirements, advance payments from customers are processed in a particular manner. After you register an advance payment from a customer, the amount is allocated to the Advances received subaccount of Account 62. At the same time, the VAT is allocated from the amount due to be paid into the budget. When the goods are shipped, the VAT accrual and payment from the facture amount are made. After settlement of the advance with the facture, the payment amount is carried over from the Advances received subaccount of Account 62 to the debtor debts subaccount of Account 62. The amount that is accrued from VAT is reversed and the reversed advance is reflected in the purchase book.

  1. Click Accounts receivable> Setup> Posting profilesto create posting profiles for advances in the Customer posting profileform.

  2. Press CTRL+N to create a new line, and enter the required details.

    Note Note

    For more information, see "Customer posting profile (form)" in the Applications and Business Processes Help.

  3. In the Posting profilefield, enter a posting profile code for advance payments.

  4. In the Descriptionfield, enter a brief description of the posting profile.

  5. Click the Setuptab.

  6. In the Summary accountfield, select the ledger account to be used as the summary account for the customer.

    Note Note

    The accounts are posted to the Account 62, Advances received subaccount.

  7. In the Sales tax prepaymentsfield, select the account number for the sales tax portion of the advance payment.

  8. Press CTRL+S or close the form.

See Also