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Invoice Type – Specifies whether the invoice follows the Progressive or the Advance invoice type.
The Invoice Type indicates whether the invoice is progressive, milestone-based, standard, or an advance, and this is automatically set according to the contract’s specifications. This linkage ensures that invoicing follows the contract’s terms, including rules around retention, discounts, and advances. When the contract permits advance billing, the invoice can be created as an Advance Invoice to request payment before work starts. In such cases, the system allows generating payment documents like bank receipts, cash receipts, or cheque entries to record the advance payments received. These payments are tied to the contract and reflected in the financial records, facilitating accurate offsetting during later invoicing.
Auto Advance Offset – If enabled, any received advance payments will be automatically applied and deducted from the invoice total, eliminating the need for manual adjustment.
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