I would like to know about advance payments to creditor & advance received from debtors in Tally ERP 9. For example, what are the ledgers should I create & what are the steps ? And please inform me what vouchers should I use for advances, for example ( payments, receipts and journal). Thank you.

I would like to know about advance payments to creditor & advance received from debtors in Tally..

Answer / unknown friend

1. For Advance payment to creditors - Create group as advance to creditors in Current Assets and create required party name account under this

2. Advance from S. Dr. - Create group as advance from Debtors in Current Liability and create required party name accounts under this

Hope you got your answer.

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