All cash flow records (receipts as well as payments) are divided into 5 types: 

  • Direct payment 
  • Advance payment 
  • Invoice payment 
  • Credit note payment 
  • Overpayment 

Invoice payment and Credit note payment, as their title implies, are associated with sales and purchases documents. Every time a document is created and you submit the related cash flow entries, Elorus will automatically associate the transaction type depending on whether the document at hand is a credit one or not.

In case you receive a payment that exceeds the document’s total value, then an Overpayment is automatically created.

Through the cash flow menu, every time you create a new record you have the option of selecting if this is a Direct payment or an Advance payment.

Direct payments are not related to your documents and can be used to describe a cash flow that does not occur from sales or purchases, such as a possible funding.

Advance payments, on the other hand, are used to describe a cash flow associated with a document not yet created or issued.

In case you create a document and wish to submit the related cash flow records, all advance payments and overpayments originating from that particular client (or supplier in case of a purchase) will be available for association. Elorus, via a quite simple environment, will guide you through the association process for pending advance payments/overpayments and help you allocate those amounts at will.

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