Step 1: Select the Excel File

Select the required file from the Purchase Excel Inbox.

Opening the correct file allows you to access imported Purchase transactions and begin the advance payment set-off process for supplier invoice reconciliation.

Step 2: Select the Party Ledger

Choose the appropriate Party Ledger to activate the Set-Off section.

Selecting the supplier ledger enables Accomation.io to display eligible advance payments associated with that party for accurate invoice adjustment.

Step 3: Open the Set-Off Window

Under the Action column, click the Set-Off icon.

This opens the set-off window where you can reconcile supplier advances with the selected Purchase invoice, simplifying outstanding balance management.

Step 4: Choose Against Reference

Click the Against Reference icon within the Set-Off pop-up.

This opens a list of available advance payment references that can be adjusted against the current Purchase invoice.

Step 5: Select the Advance Payment

A list of advance payments created before the invoice date will appear. Select the appropriate advance payment to adjust it against the current Purchase invoice, ensuring accurate supplier reconciliation and payment tracking.

Step 6: Enter the Set-Off Amount

Enter the amount you want to adjust against the selected advance payment.

Any remaining invoice value is automatically recorded as a New Reference, ensuring proper accounting treatment and accurate outstanding balances.

Step 7: Save the Set-Off

Click Save to record the advance payment adjustment.

Saving the reference updates the Purchase transaction and prepares it for further processing, ensuring accurate reconciliation before posting.

Step 8: Complete and Push the Entry

Once the set-off is saved, complete any remaining Purchase transaction details.

You can then Push to Review for verification or Push to Tally to post the finalized transaction directly into your accounting software.

Simplify Advance Payment Reconciliation

The Purchase Excel Set-Off feature automates supplier advance adjustments by linking advance payments to Purchase invoices. This reduces manual reconciliation, improves payment tracking, and ensures accurate financial records with intelligent Tally integration.

How to set off advance payments against invoices in purchase excel module?