A payment on account or part payment is a partial or total advance payment from a customer or to the supplier.
The term "a conto" comes from Italian and is translated as "on account". As Payment on account An invoice containing a claim for advance payment is therefore referred to as an invoice on account. In business, an invoice on account refers to a partial service invoiced by a contractor.
the payment on account refers to part of delivery or the services. A payment on account is therefore not an advance payment for a delivery or service that has not yet been received. In contrast, it is an interim invoice for the part of a contractually owed service that has already been provided.
To create a payment on account in SAP Business One, you must first create a an order or pre-order and then trigger a payment for this order. A payment is then triggered for this order. In the payment document, you then activate the "Payment on account" option to indicate that this is an advance payment for the delivery or service. You also enter the amount of the payment on account and the date of payment. When the final invoice is issued, the down payment is automatically offset and the remaining amount is due.
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